Ellicottville, N.Y. (WBEN) - Tariffs against Canada have caused an impact on the Village of Ellicottville in Cattaraugus County, in particular, Canadians looking to buy properties there.
"It's certainly having an impact," said Melanie Pritchard of ERA Team VP and Holimont Realty. "We are hearing rumblings from our Canadian friends and clients that are contemplating selling or even have put their homes on the market because of it, and they're quite upset but not everybody's giving up."
Nevertheless, Pritchard says it's a shame they are thinking about it.
Pritchard says a large number of Canadians love Ellicottville.
"They love the vibe down here, the skiing, the four seasons, recreational activities that we offer, everything that is Ellicottville. They absolutely love, but they're just upset with how they're being treated," Pritchard said.
Pritchard works with her mother, and explained how she had a deal put on hold because of the tariffs.
"My mom was working with three potential Canadian buyers who were looking at properties to the total of $2 million in sales, who recently put the brakes on buying because they just are concerned," Pritchard noted. "On a flip note, we've had several Canadians call us about either thinking about putting their places on the market, or they have put their places on the market, so it is a concern."
Pritchard also notes there is another factor in play.
"The Canadian dollar value has really plummeted, and that's another big problem for them in wanting to buy because they're going to pay anywhere 25%-to-30% more in their Canadian dollars for a property here," she said.
Pritchard has been advising Canadians thinking about leaving to stick this out and wait for everything to shake out.