Canmore Real Estate continues to have a healthy market with appreciating prices. However, we have the lowest inventory seen in Canmore for many years.
There is still strong buyers demand, which is expected to continue to increase with active baby boomers buying their mountain home now for their pending retirement in the next few years.
Prices and Stats for the past several years:
Avg $ All Residential properties $607,000
Avg $ Single Family $859,000
Avg $ All Residential properties $616,000
Avg $ Single Family $926,000
Avg $ All Residential properties $661,000
Avg $ Single Family $947,000
Avg $ All Residential properties $663,000
Avg $ Single Family $1,012,000
Avg $ All Residential properties $760,000
Avg $ Single Family $1,195,000
Number of sales in 2017 is down from 2016 due to lack of inventory. Price increases are likley to be partially the result of the low inventory as well.
There is some new construction, though they sell quickly as pre-sales and there is not enough to fulfill the demand for housing.
Canmore has a finite footprint and there is limited land for future development.