Realtors in Canmore, Alberta, say that sales of luxury homes are holding up despite the oil downturn. While Calgary’s high-end home sales have been slowing, Canmore has seen 26 sales of homes priced at least $1 million up to Aug. 16 which is only 2 away from the total for the same period last year. Chezlene Kocian and Kyle Pressman of MaxWell South Star Realty told the Calgary Herald that many of the buyers are locals moving up to more expensive homes: “The purchasers we are seeing are majority Alberta-based, although with the ongoing strengthening of the U.S. dollar, we are hoping to see a resurgence of American buyers as we’d previously experienced when the exchange rates were similar in 2003-2004.”
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