Canmore Real Estate Newsletter August 2019

Year to Date Sales Numbers up 14%

We hope that you have been enjoying your summer. After a tough start weather wise Canmore and Banff are enjoying long warm days perfect for all your mountain adventures. 2019 has continued to be very strong with year to date sales number 14% higher than last year and 9% higher than 2017.

The monthly sales data saw some lower average and median sale prices through many of the different types of properties, however, that can be directly attributed to a stronger market and activity level in the entry level of each of the markets. Our listing inventory is rising which can be typical for this time of year, but we are seeing the majority of this increase in the Single Family home segment along with the Townhome segment. Apartment style condos and Hotel condos are staying quite stable.

The reports are coming in for the Hotel condo market and it looks like this summer is going to be very strong again. While it is hard to view these properties through the summer it can be a good time to get your groundwork done so you can act when the time is right.

The local market is continuing to be very completive with some multiple offer situations occurring for the most coveted options. Typically, the local market also picks up in Fall as many local Bow Valley Residents along with Albertans can take their eyes off of their work a little to make some permanent or recreational plans before Winter.