Canmore Market Update

Bow River, Banff

The month of October in Canmore, while steady, trailed behind October 2017 real estate sales in terms of volume and had far fewer high end sales. October 2017 was an unusually strong month in terms of both quantity of sales and price point. Sales volume was 22.8% lower this October compared to 2017, and the average sale price this past month was 3.6% lower than in 2017 with the average transaction price at $733,949. There were 5 sales this October over $1M, with the highest sale for the month at $1,420,000 for a single family home on Rundle Crescent. Comparatively, October 2017 saw 12 sales over $1M with the highest sale at $3,076,000 for a single family home in Silvertip.

Year to date numbers for 2018 show a 6.4% lower volume of sales in 2018 from 2017, and a slightly raised average sale price of $710,187, which is 3.3% higher than 2017.

70 new listings came to market in October which is more than we typically see in an average month, however total inventory remains low with 172 active listings, 15 of which are hotel condos.