January 2026 reflects a balanced market with a softer edge, and no dramatic shifts.
A quieter sales month as expected.
January 2026 Market Snapshot
There were 22 residential sales in January, down 15% year over year. That sounds significant until you remember that January is traditionally one of the quieter months in Canmore. Many buyers are waiting for the Spring market to arrive with more inventory, and sellers are holding off for longer days and better weather to list.What’s notable is where activity continues to occur. Most sales were above $1M, reinforcing that Canmore continues to be driven by higher-value, rather than entry-level turnover.
The average sale price was $1,214,924, down 29% year over year. This decline reflects a change in the mix of homes sold (fewer ultra high-end sales), rather than a broad drop in property values.
Benchmark Prices: Stable, With a Slight Downward Drift
Benchmark pricing provides a clearer picture than averages alone. Overall, prices are trending slightly downward, but not significantly, suggesting a pause after several strong years rather than a correction.
* Overall residential benchmark: $1,056,900 (flat year over year)
* Detached homes: $1,603,800 (down 2.2% y/y)
* Townhouses: $1,017,300 (down 3.2% y/y)
* Apartments: $824,800 (down just 0.7% y/y)
Apartments continue to show the most price stability, supported by steady demand and limited entry level options.
Days on Market & Inventory
The average days on market increased to 67, and upward trend, which is typical for this time of year. Winter listings often take longer with buyers planning rather than acting immediately. Well-priced, well-presented homes are still selling, just with a longer runway. This is normal January behaviour, not a sign of stalled demand.
* Detached homes: $1,603,800 (down 2.2% y/y)
* Townhouses: $1,017,300 (down 3.2% y/y)
* Apartments: $824,800 (down just 0.7% y/y)
Apartments continue to show the most price stability, supported by steady demand and limited entry level options.
Days on Market & Inventory
The average days on market increased to 67, and upward trend, which is typical for this time of year. Winter listings often take longer with buyers planning rather than acting immediately. Well-priced, well-presented homes are still selling, just with a longer runway. This is normal January behaviour, not a sign of stalled demand.
Inventory remains limited. There were 58 new listings, up 29% year over year, while active inventory sits at 122, down just 2% from last year. Sellers are beginning to test the market ahead of spring, but overall inventory remains relatively flat.
More apartment-style properties are available, while detached home inventory remains tight.
Months of Supply
Months of supply currently sits at 5.55, up 15% year over year. This places Canmore squarely in balanced market territory, with conditions similar to what we saw in 2018, enough inventory to give buyers options, but not enough to create widespread downward pressure on prices.
What This Means for Buyers
* More time to make decisions, especially compared to recent years
* Increased opportunity for thoughtful negotiation
* Best value still found in well-priced homes that have been sitting longer
However, desirable properties in strong locations continue to attract attention and move quickly.
What This Means for Sellers
This is a market that rewards realism.
Pricing close to market value matters more now than it did during peak years. Buyers are informed, selective, and patient, but they are still buying, particularly in the $1M+ range.
Homes that are prepared, priced strategically, and launched with intention continue to perform well.
The Big Picture
January 2026 doesn’t tell a story of decline. It tells a story of normalization.
As always, these are broad market numbers. How they apply to a specific neighbourhood, building, or property type can vary widely — and that’s where the real conversation begins.
