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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

Sales in Canmore in August were on par with 2018 sales, with a total of 41 sales (plus 2 fractional) in August keeping with August 2018’s total of 41 sales (plus 1 fractional). There was much more activity in the upper end of the market this August however, which bolstered the average sale price to $812,395 compared to August 2018’s average sale price of $626,648 (highest sale price last August was $1,325,000 so resulted in a particularly low average sale price), and July 2019’s average sale price of $703,554.

There were 9 sales over $1,000,000 in August, more than double the number of sales in July which saw only 4 sales over $1,000.000. Of these 9 sales, 2 properties were sales over $2,000,000. A new record was set in August for the highest sale of a redevelopment 4-plex lot in South Canmore, selling for $1,351,000. A new record was also set in South Canmore this past month for the highest sale of a duplex property which sold for $1,670,000. This 4 bedroom property is 2468 square feet which results in a sale price breakdown of $676.66/SF.

Current listing inventory in Canmore is 237 listings, plus an additional 7 fractional property listings. 65 new listings were brought to market in August. There are 162 active listings priced up to $1,000,000, 69 listings priced between $1,000,000 and $2,000,000, and 14 listings for sale over $2,000,000.