April 2019 has been the busiest month in Canmore real estate in over a year and a half. April had a total of 77 sales (plus one fractional), compared to 46 sales in March. Incidentally, April of 2018 was the second busiest month for Canmore real estate in all of 2018 with 57 transactions. The perception can often be that the summer market in Canmore is the busiest, but the last 2 years, this has not been the case. July 2018 and August 2018 had 41 and 42 sales respectively. There are definitely more people around town over the summer months, but many of these people are not necessarily real estate purchasers, and some that may be interested in buying, are distracted with family holidays, etc so aren’t necessarily focused in on house hunting.
The majority of the sales activity in April has been below the $800,000 mark with 8 sales over $1,000,000. Two desirable parcels of land situated beside each other on the Bow River, on Van Horne were the top sales for the month. The larger lot at 0.67acres, 14 Van Horne selling for $4,000,000 and the other, 13 Van Horne (0.32 acres) for $2,000,000. 14 Van Horne set a new sales record for Canmore for the highest priced single family residential land sale.
South Canmore has been unusually quiet during this busy time. Although this desirable community had a few recent sales in the first 2 weeks of May of single family homes and lot redevelopments, there were no sales of any listings in South Canmore in April except for at the new, pre-construction development, Surprising, given the bustling marketplace coupled with the current inventory levels in the neighbourhood, 29 active listings, 13 of which are town home style 4-plex properties.
The average sale price for April 2019 was $672,044. There were 105 new listings in April, a high number, and definitely well needed with the volume of transactions that occurred last month. Overall inventory levels remain low with 199 active listings, 13 of which are conditionally sold.