Sky-high Buyer Demand – Record Low Listings
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 $2,063,800, Up 2% from May 2022. Townhomes had no chance in value, $907,000. Duplexes sold for $1,554,000 in May of 2023 with no changes from May of 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 $730,750, up 34% from May 2022. Hotel condos sold for $922,200, up 7% from year to year. Tourist homes sold for an average of $630,000, down 24% from May 2022.
Canmore Sales & Days On Market
We saw an uptick in available homes for sale in Canmore. 43 listings sold with an average of 52 days on the market (Up 41% from May of 2022.) Note that the number of sales was up 26% from May 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.
