October 2026 Canmore Market Recap

• ↓ Average Sale Price Year-to-Date  
• ↓ New Listings                                 
• ↑ Number of Sales 
• ↑ Average Days on Market
• =Balanced Market Conditions Continue

Are Prices Going Up or Down in 2026?

Lower Average Sale Price in 2026

• 2025: $1,380,975
• 2026: $1,335,812
• ↓ 3.27%

The year-to-date average sale price is currently about 3% lower than it was at this point last year. This is a relatively modest change, but notable as the Canmore market has historically experienced price appreciation in most years.

Lower Average List Price in 2026

• 2025: $1,430,175
• 2026: $1,376,814
• ↓ 3.73%

The lower average list price indicates that many sellers have noted the shift in market conditions and adjusted their pricing accordingly. Sellers still priced in line with previous market values, tend to experience multiple price adjustments throughout the listing period. 

Higher Number of Sales

• 2025: 254
• 2026: 274
• ↑ 7.87%

Lower prices are likely a factor in the higher number of transactions in 2026 compared to this time last year.

Higher Number of Days on Market

• 2025: 55.69 days
• 2026: 59.85 days
• ↑ 7.46%

Properties are taking somewhat longer to sell than they did last year. This suggests that buyers are being more selective and are generally taking more time before making a purchase.

Lower Inventory

• September 2025: 146 properties
• September 2026: 119 properties
• ↓ 18.49%

With fewer properties available and more sales occurring year-to-date, the overall supply-demand balance has tightened compared with this time last year

Interest Rates

While interest rates remain reasonably low by historical standards, they are currently higher than the rates buyers have experienced in recent years. In 2026, there has been a noticeable increase in conditionally sold properties not proceeding to firm sales and returning to the market, frequently due to financing challenges of buyers. It may take time for the buyers market to adjust to the new interest rate norms at this time.  

Livability Tax Update

In 2026, the Town of Canmore introduced a higher municipal property-tax rate on residential properties that are not used as a primary residence. Prior to it being implemented, the Province of Alberta made legislative changes.  These changes exempted properties owned wholly or partly by Alberta residents from higher municipal property tax rates applied to non-primary residences. This higher tax rate sub-class has been applied for the first time in 2026 to properties owned by individuals who do not live full time in Canmore, and do not have an Alberta resident on title. 

There are still questions regarding how and when the higher tax sub-class applies to corporate ownership.  

For Sellers

• The current market provides a reasonable opportunity for sellers.
• There are fewer listings on the market than a year ago, with a higher number of sales than in 2025.
• However, the buyers still seem comfortable taking their time to make decisions.
• Accurate pricing is particularly important.
• In the market in 2026, properties priced accurately have generally seen faster sales with less negotiation.

For Buyers

• For buyers, the current market offers the rare opportunity to leverage lower pricing.
• Buyers should also keep in mind that inventory seems to be trending downwards, which can reverse the trajectory of the price correction. 

Last Thoughts Heading Into the Fall 

Overall, this continues to look like a balanced and reasonably healthy market.

The direction of the Canmore market for the remainder of 2026 and heading into 2027 is likely to remain active, balanced and relatively stable. 

A balanced market is a healthy market. At this time, Canmore continues to offer opportunities for both buyers and sellers.