REAL ESTATE MARKET UPDATE
Canmore’s housing market was consistently active last year with an increase in the number of properties sold as compared to 2018. Although upper end and older single family home sales and prices showed a slight decrease, the number of full time living condominium sales increased significantly, accounting for the spike in number of overall sales last year. One reason for the large surge in condominium sales, was the price increase of entry level townhomes resulting in buyers seeking lower priced, resale condominiums as well as attractively priced, brand new, presale condominiums. Hotel condos continued to be popular with a consistent demand and price increase year over year. Land continues to be scarce and prices are expected to be on the rise this year. Overall, we saw stability in our market last year and although Canmore experienced about a 2% decrease in average sale prices, the contributing factor was mainly the number of sales of lower priced product. It is customary for the market to remain quiet until February with the majority of new listings coming to market throughout the spring. Overall, tourism looks to remains strong, the Canmore market has been thriving and the desire for people to own their dream home in Canmore endures.