Canmore Real Estate Newsletter October 2018

Our Food Drive is December 6th, Can You Help?

What a glorious fall we have had for the last few weeks. The Canmore Real Estate market continues to stay strong as we move into the 4th quarter. Our market has been incredibly stable over the last six years. With just 2015 as an outlier, the remaining 5 years have seen total sales in the first three quarters within 5% of the average.

The statistics fluctuate a lot more within our market because of the smaller sample size. For Single Family Homes it is interesting as we saw the median sale prices dip from the 3rd quarter in 2016 by 2.7% to 2017 but saw a subsequent rise in the third quarter of 2018 of 15.5% over 2017 and 12.5% over 2016.

For the apartment style condos as we have seen an influx of new product and new unit sales we saw increases in the median prices of 18% from 2016 to 2017 and another increase of 9.3% from 2017 to 2018. The townhome condos have increased over the 2 year period by 5.6% however it saw a huge increase from 2016 to 2017 and then came back down to a more normal number in 2018.

Lastly for hotel condos we continue to see a high level of interest this year and it is reflected in a small increase in median sales prices from 2016 to 2017 of 3.2% but this year we saw an increase of 16.2% over last year.

We are continuing to see stability of our listing inventory hovering between 182 and 201 since May of this year.

We are proud to once again be a part of the Christmas Spirit campaign and doing our 27th Annual Royal LePage Food Bank Drive again on December 6th and could use your help. Please give us a call if you can help out that night or with a donation of non-perishable food or a monetary donation.