Canmore Market Update

Sales in Canmore in July ramped up considerably compared to June, with a total of 51 sales (plus 5 fractional) in July compared to only 35 sales in June. July 2019 was also considerably busier than 2018, which saw only 39 sales. In the upper end of the market, sales over $1,000,000 lagged last month, with only 4 sales. The smaller number of sales in the upper end of the market, resulted in a drop in average sale price in July to $703,554 down just over $100,000 from June 2019’s average sale price of $809,861.

There were 76 new listings brought to market in July, with our current total inventory being 239 properties, plus an additional 7 fractional property listings. Selection of properties in the upper end of the market, priced from $1,5000,000 and up, is abundant with 42 listings in this price range. With only 4 sales in July over $1,000,000 compared to 9 in July of 2018, and only one sale over $2,000,000, absorption rates for higher end properties have been noticeably slower. The highest sale in July was a Silvertip property which sold for $2,525,000.