Canmore Market Update January 2026

Overview of 2025 Market

2024 →2025 (Residential – Canmore)

• Balanced Market in 2025
• Lower Number of Sales
• Longer # of Days on Market
• Average Residential Sale Price Increased 9%
• Average Hotel Condo Sale Price Increased 5%
• Currently -Inventory Balanced

Interest rates 

• Interest Rates remain generally low resulting in buyer’s activity despite economic and global uncertainty.

Are Prices Going Up or Down?

• Residential Average Sale Price Increased 9% 2024→2025 (Canmore-residential)
• 2024 $1,255,000 → 2025 $1,366,000

• Average Price Per Sq Ft Increased 5%
• 2024 $706 → 2025 $740

• Hotel Condos Average Sale Increased 5% 2024→2025
• 2024 $897,000 → 2025 $940,000

• Average # Days on Market increased 17% 
• 2024 – 51 Days → 2025 – 60 Days

Balanced Market

Buyers and sellers activity is balanced at this time, and activity is reasonably buoyant. January 2026 has seen and uptick in buyers inquiries and showings.

For Sellers – Inventory is lower than average at this time and a good time for Owners wishing to sell. It is important to keep in mind that approximately 20% of listings in 2025 sold within the first 27 days, and only 3 of those required a price adjustment. Notably, 96% of all price reductions happened after properties had been on the market longer than 27 days. Accuracy in pricing seems to be key in today’s market.

For Buyers – There is somewhat lower inventory at this time though we may see an increase in listings in the spring. As current global events creates an uncertain market, it may be prudent to purchase as soon as you find the right home. Waiting could potentially result in higher interest rates, higher prices or more competition.

Unknowns

The Livability Tax the Town of Canmore is in the process of implementing (a higher tax rates for non-permanent residents) has come up against several challenges. There is currently an active law suit challenging it, widespread and vocal public resistance and the Province has indicated they will step in should changes not be made. The week of Jan 6, 2026 the Town has indicated a proposal to apply the non-permanent resident tax only to non-Albertans.

We don’t know at this time: if such a compromise would be approved by council, if the Province would find this option acceptable or if the tax would be financially effective in this case.

Last Thoughts

A balanced market is a healthy market. At this time, conditions are favourable for both Sellers to sell and Buyer’s to buy. In typical market conditions, we can expect to see an increase in activity in the spring and, as there tends to be more buyers than sellers, it can create an unbalanced market quickly.

The market trajectory of the market in 2026 is unpredictable, though the industry generally anticipates reasonable, healthy and balanced activity with both buyers and sellers.

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