Canmore, A Story Of Two Markets
Canmore has seen a shift recently. It has been related to so few houses coming to the marketplace. In addition, few homes are selling over the 2 million dollar price range. Does this signal a shift in buyers’ expectations of price or the effect of the increased lending rates? It’s frankly hard to say as the sub-2 million dollar housing and strata market is doing well. The lack of inventory has assured that this Bow Valley real estate market has kept competition higher for buyers, helping sellers sell the homes more quickly for more money.
If you have any questions about Canmore’s real estate, please don’t hesitate to contact us here.
Canmore Detached / Townhomes / Duplexes Values
The average detached home sold for $1,790,500, down 3% from April 2022. Townhomes had some upward movement in value: $1,032,200, 10% higher than in April 2022. No duplexes were sold in April of 2023.
➤ For more information on Canmore real estate, check out:
- Canmore Neighbourhood Guide
- Best Vacation Homes Within Driving Distance of Calgary & Edmonton
- Why Now Is A Great Time To Sell In Canmore
- Investing In Canmore Real Estate
- Looking To Buy In Canmore?
- Why People In Toronto Are Buying In Canmore
Canmore Condo Apartment / Hotel Condos / Tourist Home Values
The Canmore condo apartments sold for $663,600, 10% down from April 2022. hotel condos sold for $525,400, down 44% from year to year. Tourist homes sold for an average of $826,600, up 9% from April 2022.
Canmore Sales & Days On Market
We saw an uptick in available homes for sale in Canmore. Four listings sold with an average of 37 days on the market (Up 61% from April of 2022.) Note that the number of sales was down 43% from April 2022. with the increase in listings, There remains a slight advantage to sellers – in other words, Canmore’s real estate market is in a seller’s market.
