the low side, though there is a healthy amount of sales taking place. Desirable and
appropriately priced properties tend to sell in the first week on the market, sometimes with
multiple offers, which is not uncommon.
market pricing when considering a purchase. Over priced properties can still remain on the
market for some time, even in this active market with strong buyers demand.
1. We have a lot of future retirees buying now. They do not want to wait the 5-7 or so years
to retirement, as they know prices in Canmore are going up and there is a very limited
amount of development in the area.
2. We have increasing tourism, so the tourism and hospitality businesses are growing and
there is an escalating requirement for housing for their staff and employees. (Both to buy
3. Increased demand in rentals is encouraging investor buyers.
4. Two new taxes in BC that target both out-of-country buyers, and out-of-province buyers,
as well as new laws that remove some landlord protections, have encouraged investors and
recreational buyers to purchase in Alberta instead of BC. As Canmore is a desirable location
for both recreation and investors, we are seeing an increase in buyers that would otherwise
have purchased in BC.
5. The possibility of hosting the Olympics is attracting a small contingent of speculators, that
think Canmore’s values will increase, if we get the Olympics, or even if we just bid, due
increased international exposure of our stunning scenery.
helps satisfy some of the increase in buyers demand, though is not enough to create a
balanced market inventory.
The woes in the oil and gas industry that has affected other real estate markets in Alberta for
the past few years, has not affected the Canmore market. The activity here remains buoyant