The local market picked up a little in January from December with a total of 23 sales (plus one fractional), compared to 17 sales in December. The cold weather snap has definitely impacted the number of people out looking for property however, and our January 2019 volume was approximately 20% lower than January 2018, which saw 29 sales.
The majority of the sales activity transpired between $400,000 and $750,000, with 5 sales over $1,000,000. The highest sale in January was a luxury estate property that sold in Cairns on the Bow, our gated community in Three Sisters Mountain Village for $3,900,000 (list price $4,300,000). This 8900 square foot property has been on the market since 2013 when it was originally listed for $6,900,000.
The average sale price for January 2019 was $861,739. This is up considerably from January 2018, largely augmented by the Cairns property sale although interestingly, January 2018 also had a rare plus $3M sale at $3,355,000 but a higher number of transactions last year minimized the impact. There were 41 new listings in Canmore in January. Current listings remain low with 173 properties for sale, including 13 hotel condos.