Canmore Sales In August Were Strong (Which Is Rare!)
Canmore saw a solid end to the summer. This is rare, as most people are too busy getting after it in the mountains and getting their last vacation moments before school begins again. However, sales volume is down over the year by nearly 19%. Days on market are slower this year than last year.
Canmore continues to build more hotel condo properties. We are looking at over 500 more units coming to market. These are pre-sold. Note that resale hotel condos are proving to be much cheaper than the pre-construction. Once these hotel condos are built in the coming years, it will be interesting to see how well their values are maintained. There is an opportunity to buy discounted resale units today. We are curious to know how this flushes out in the years to come.
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 $1,600,500, up 38%% from August 2022. Townhomes sold for $1,060,900, up 11%. Duplexes sold for $1,590,000 in July of 2023, up 95% from August 2022.
➤ 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 $630,000, down 4% from August 2022. Hotel condos sold for $884,400, up 33% from year to year. Tourist homes sold for an average of $1,005,100, down 18% from August 2022.
Canmore Sales & Days On Market
Relatively stable number of sales since a year ago this time. 39 listings sold with an average of 34 days on the market (down 3% from July 2022.) Note that the number of sales was down 6% from July 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.
