In Canmore’s real estate market, June 2022 was another Seller’s market month, with 2.8 months’ worth of inventory. The market softening has continued in specific segments, but not like we see in Canadian cities.
The demand remains strong in Canmore, just not the same demand that we saw earlier in the spring. We have seen a recent uptick in sales thanks to international buyers looking to purchase before the rule changes are expected to come into effect at the end of 2022. We see more listings and more price changes, and we have seen a levelling off in specific marketplace segments.
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 $1,866,800, a solid 22% higher than in June of 2021. Note this is due to a lack of higher-end transactions and very few detached homes on the market. Townhomes give us a much better sense of the significant gains in Canmore real estate values: $1,112,000, which is 46% higher than June 2021. Duplexes sold for $1,635,000 were 24% higher than in June of 2021.
➤ For more information on Canmore real estate, check out:
- Canmore Neighbourhood Guide
- Why Now Is A Great Time To Sell In Canmore
- Investing In Canmore Real Estate
- Looking To Buy In Canmore?
Canmore Condo Apartment / Hotel Condos / Tourist Home Values
The Canmore condo real estate segment is where we are seeing a little bit more of the market shift. It’s not a large shift but you can see the entry-level market slowing down – note that entry condos are what drive real estate values up into homes – it’s a key indicator. Condo apartments sold for $664,000, 26% lower than June 2021. (a great time to purchase an apartment condo in Canmore!) Hotel condos sold for $735,000, up 14% year t0 year. Tourist homes sold for an average of $604,000, up by 3%.
Canmore Sales & Days On Market
We saw an uptick in available homes for sale in Canmore. 47 listings sold with an average of 31 days on the market (which is slightly faster sales than last month.) Note that the number of sales was down 28% from June of 2021, this is a Seller’s market and will remain so for some time to come due to the number of Canmore Buyers.
