More recreational buyers are driving up the demand for Canmore property. Sales in the mountain town are up 32% so far this year. There are currently only 229 properties for sale in Canmore which is very low inventory and a drastic change from the depths of the recession felt in Canmore, when there were 400-500 listings on the market at any given time.
Canmore realtor Jessica Stoner reports:
“The Canmore real estate market is strong and very active. It is not what many expected. It was assumed the market sales volume would slow down as we recovered from the flood. It was also assumed that buyers would be shy about buying after such a powerful and damaging display by mother nature, knowing she can get out of our control at times.
However, the buyer’s market has made its intentions clear. Canmore is an ever popular destination and buyers are buying.”
Prices are very similar to last year’s, but as Stoner says, “Should these higher sales volumes continue, it is likely we will start to see price appreciation across the board in Canmore in the remainder of 2013.”
Canmore average prices Jan – Aug 2013:
Single family homes $781,000
Hotel condo $167,000