Newsletter

MARKET UPDATE

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.

MARKET UPDATE

November 2019 was down in volume from last year, with 9 fewer sales for the month than in 2018. There were also far fewer sales in the upper end of the market last month than the year previous, resulting in a substantially lower average sale price. This November, Canmore had only 2 sales above $1,000,000 including one South Canmore home sale over $2,000,000. The average sale price of property in Canmore last month was $664,971. In November 2018, there were 10 sales over $1,000,000, including 2 sales over $2,000,000, which resulted in an unusually high average sale price of $812,086.

New listings for the month of November 2019 were a total of 50, which is on par with the last November’s new listings total of 51.

The current number of listings on the market in Canmore are 201 properties.

CRANBERRY OLD FASHIONED

This Cranberry Old Fashioned is a delicious and beautiful cocktail recipe to celebrate the holiday season.
Servings: 1 cocktail | prep time: 5 mins

INGREDIENTS
3 ounces quality bourbon whiskey
1 ounce cranberry simple syrup*
3 shakes Angostura bitters
Garnish with orange peel, Ocean Spray® Fresh Cranberries, and rosemary

INSTRUCTIONS
In a serving glass with ice, stir together the bourbon, cranberry simple syrup, and bitters.
Garnish with orange peel, fresh cranberries, and rosemary.

RECIPE NOTES
*Cranberry Simple Syrup – In a saucepan, bring 2 cups of water, 1 cup of sugar, and one cup of fresh cranberries to a boil. Once boiling, cook for 4-5 minutes. Strain with a fine mesh sieve. Cool before serving.

Recipe & photo courtesy of: inspiredbycharm.com

Canmore Market Update

The Fall market in Canmore has been quite active with both September and October seeing an above number of transactions for this time of year. September had a total of 47 sales and October 53 sales, pus 4 fractional purchases. The busiest sectors of the market were for properties priced between $350,000 and $850,000. We also saw a decent number of property purchases between $1,000,0000 and $1,350,000. The upper end of the market was quiet with only three sales over $1,500,000, including one sale over $2,000,000, which was a luxury home in Silvertip that sold for $2,450,000.

The average sale price for September 2019 was $690,838, significantly lower than both August and October’s average sale price, in part due to a large number of hotel condo sales that transacted between $350,000 and $500,000. There were 9 sales over $1,000,000 with the highest sale being $1,795,000.

The average sale price for October 2019 was $799,332 with 11 sales over $1,000,000, including the sale in Silvertip for $2,450,000.

There were 64 new listings in September and 58 in October. Our current total inventory is 215 properties, with a large supply in the upper end of the market – 38 listings priced over $1,500,000.

MARKET WATCH

SEPTEMBER 2019

Changes are calculated comparing September 2019 to September 2018

Sales over $1M: 9
Highest sale in June: $1,795,000

SEPTEMBER 2018

OCTOBER 2019

Changes are calculated comparing September 2019 to September 2018

Sales over $1M: 11
Sales over $2M: 1
Highest sale $2,450,000 (next highest sale was $1,402,400)

OCTOBER 2018