Newsletter

Canmore Market Update

The June market was a quieter month than the earlier Spring months, with a total of 35 sales (plus 3 fractional). June did experience a bit more activity in the $800,000 to a $1,000,000 range than we’ve been seeing in past months and had seven sales over $1,000,000. Four of the seven sales were between $1,100,000 and $1,3000,000. The other three sales were between $1,510,000 and $1,640,000 which was the highest sale in June.

The average sale price for June 2019 was $809,861, up approximately $30,000 from last month’s average sale price of $778,795. There were 81 new listings in June and our current total inventory is 244 properties, plus an additional 10 fractional ownership listings. There is quite a bit of selection in properties over $2,000,000 in Canmore at present, with 16 properties listed for sale over this price point.

Year to date in 2019 has been quite similar to total sales number for 2018 over the same time period, with 2019 having slightly more sales with 264 (plus 7 fractional). The first two quarters of 2018 saw 248 sales (plus 5 fractional). There have been stronger sales numbers over $1,000,000 this year with 48 transactions, compared to 37 in 2018. This has contributed to a higher average sale price in 2019 of $737,867, compared to $696,601 in 2018.

CANMORE MARKET UPDATE

May 2019 was another strong month for Canmore real estate. There were a total of 54 sales (plus two fractional). Similar to last month, the majority of the sales activity has been below the $800,000 mark but May also had 14 sales over $1,000,000 compared to 8 sales in April over $1,000,000. 12 of the 14 sales over $1,000,000 sold between $1,000,000 and $1,400,0000, with one sale at $1,580,000 in Larch and one sale at $2,685,000 in Silvertip.

The average sale price for May 2019 was $778,795. This number was boosted from the larger number of sales over $1,000,000 than we typically average in a month. There were 89 new listings in May, with the majority of the new listings located in Three Sisters. Current inventory levels overall remain low at 232 listings, however this is the first time we’ve had numbers over 200 in many months, so it’s nice to see a little more selection for home hunters.

CANMORE MOUNTAIN MARKET

One of the many great things about Summer in Canmore is the Mountain Market, which runs every Thursday until October 3, 2019 from 10am to 6pm. This market has been operating for over twenty years and is open rain or shine (or snow!).

Fresh produce, meats, honey, baked goods & ice cream are all available as well as artisanal products including jewellery, crafts, & clothing.

Downtown Canmore – 7th Avenue
Every Thursday to October 3rd
10am to 6pm

CANMORE MARKET UPDATE

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.

CANMORE MARKET UPDATE

Once again in February, the market continued to pick up a little over the previous month, and was also slightly stronger than total sales volume for the month of February 2018. There were 30 total sales transactions in Canmore in February 2019.

The majority of the sales activity transpired below $650,000, with zero sales between $651,000 and $829,000, and only 4 sales over $650,000 and under $1,000,000. There were 5 transactions over $1,000,000 with the highest priced sale in February 2019 at $1,475,000 which was a near-new town home property in Spring Creek.

The average sale price for February 2019 was $687,875. This is down from February 2018’s average sale price which was $793,848. In 2018 however, there were 9 sales over $1,000,000, as compared to the 5 in 2019. This combined with some higher priced sales over the $1,000,000 mark, resulted in pushing the average sale price for the month of February 2018 considerably higher than this year.

There were 47 new listings that came to market in Canmore in February. Our active listing inventory continues to be low with only 173 properties for sale, including 11 hotel condos.

Canmore Market Update

The local market picked up a little in January from December with a total of 23 sales (plus one fractional), compared to 17 sales in December. The cold weather snap has definitely impacted the number of people out looking for property however, and our January 2019 volume was approximately 20% lower than January 2018, which saw 29 sales.

The majority of the sales activity transpired between $400,000 and $750,000, with 5 sales over $1,000,000. The highest sale in January was a luxury estate property that sold in Cairns on the Bow, our gated community in Three Sisters Mountain Village for $3,900,000 (list price $4,300,000). This 8900 square foot property has been on the market since 2013 when it was originally listed for $6,900,000.

The average sale price for January 2019 was $861,739. This is up considerably from January 2018, largely augmented by the Cairns property sale although interestingly, January 2018 also had a rare plus $3M sale at $3,355,000 but a higher number of transactions last year minimized the impact. There were 41 new listings in Canmore in January. Current listings remain low with 173 properties for sale, including 13 hotel condos.