Full Year- 2018
Click Here for Canmore Investment Profile 2017
Information on Population, Economic Factors, Growing Tourism, Income Means etc.
Healthy and strong describes the Canmore real estate market in the first quarter of 2017. We have seen solid appreciation since the same time last year, and continued buyers interest. There is somewhat low inventory right now, and desirable properties sell quickly.
We are not seeing a “Hot” market, as there is still some balance. Multiple offers do take place, though the are not the norm and properties may sell above asking price, though only in some instances of multiple offers.
Future retirees are the main buyers market. They are coming mostly from Alberta though we see buyers from Ontario, BC other parts of Canada and some from the US as well, though not as many as one would expect given our low dollar and solid economy in Western Canada.
First time home buyers are buying as well, sometimes with help from parents, which seems an unfortunate necessity, due to the higher entry level pricing in the area.
Tourism has increased significantly in the past few years, creating a higher demand in jobs and a strong Canmore economy. This is expected to continue to increase with targeted efforts from our new Canmore Chamber of Commerce and the newly reformed Canmore Tourism advocacy group.
There is some new development taking place, though on a small scale and will be unlikely to meet the current and future demand for this area with a finite growth foot print.
Contact Jessica Stoner with questions or for more information.
Wishing everyone a happy and prosperous 2017.
Just a reminder that I now have a real estate partner, Nathan Weima, to ensure my clients always get prompt and reliable response. Maintaining excellent realty service is my top priority.
If you are looking for a home, condo or vacation property or future retirement residence in Canmore…
2016 Year in Review Report
If you are looking for a home, condo or vacation property or future retirement residence in Canmore, here’s how to get expert advice by getting in touch with Jessica…
Our market has been quite different from Calgary’s so far. We do have a slight decline in sales, but prices are still appreciating in a healthy way.
For all residential property sales in Canmore:
Jan-Dec 2013 Jan -Dec, 2014 Jan -Nov5, 2015
Sales 418 403 304 (Year-to-Date)
Average Sale$ $607,000 $616,000 $668,000
Days OM 99 74 74
Lower sales in 2015 but increase in price. Inventory and the market in the area is balanced with neither the buyers or sellers being particularly favored.
I receive inquiries every day from buyers looking for a home in Canmore and unknowingly request information on properties that they are not allowed to live in. It is frustrating and confusing for buyers and here, I will shed some light on what a hotel condo is, what the different zonings are in Canmore, and what type of property you might want to be looking for.
All you need to know in less than 3 minutes!