The market in December 2019 was slightly stronger than the previous year, both in sales volume and average sale price. This past month saw 20 sales with an average sale price of $657,305 compared to December 2018’s total of 17 sales with an average sale price of $624,712. The upper end of the market was very quiet last month, with only one sale above $1,000,000. This was a tourist zoned (short term rental or full time usage) penthouse property at Spring Creek that sold for $1,120,000. There were only 6 sales in Canmore over $700,000 last month, with the $600,000 – $700,000 sector of the market being a very active range for sales.
There was a total of 29 new listings that came to market in December 2019, which is very close to the previous December’s new listing total of 31 properties.
Our current inventory in Canmore is very low, with only 186 properties properties for sale, 22 of which are fractional ownership or hotel condo properties. Although absorption is a bit slow at the moment, this is a good time to list your property for sale and there is such limited inventory in most sectors of the market.