As we move through 2024, the Canmore real estate market continues to show significant growth, reflecting both strong demand and rising property values. Here’s a breakdown of the latest stats for the year, along with some key insights on the trends shaping the market.
Market Overview
From Q1 - Q3, Canmore saw 377 total sales with an average sale price of $1,165,000. Homes are spending an average of 53 days on the market. When comparing Q3 2023 to Q3 2024, the average square foot price has increased 17% from $732 to $888.
Sales Breakdown by Price Range
Of the 377 sales this year, the majority fell in the sub-$1 million category, but a significant number of higher-end homes also changed hands, indicating strong activity across multiple price brackets:
Under $999K: 209 sales
$1M - $1.5M: 83 sales
$1.5M - $2.0M: 45 sales
$2.0M - $2.5M: 22 sales
$2.5M - $3.0M: 10 sales
$3M+: 8 sales
Average Sale Prices by Property Type
Different property types are performing differently in Canmore, with single-family homes leading the way in terms of average sale price:
Single-Family Homes: $2,045,000
Half-Duplex: $1,617,000
Tourist Homes: $1,302,000
Townhomes: $1,044,000
Hotel Condos: $782,000
Apartments: $771,000
These figures reflect the broad spectrum of available properties in Canmore, catering to various buyers—from those looking for a second home in the mountains to investors seeking rental income from tourist homes or hotel condos.
What’s Driving the Market?
The consistent price growth and demand can be attributed to Canmore’s unique position as a gateway to the Rockies, offering an unmatched mountain lifestyle while still being close to major urban centers. The combination of natural beauty, recreational opportunities, and a growing real estate market makes Canmore a highly desirable location for both full-time residents and second-home buyers.
Ready to Buy or Sell in Canmore?
The Canmore market is dynamic, but navigating it can be challenging without the right guidance. Whether you’re looking to purchase your mountain getaway or sell to capitalize on this thriving market, I’m here to help.
With 18 years of experience and a track record of 500+ successful transactions in Canmore & The Bow Valley, I have the local expertise and proven results to make your next move seamless.
🔑 Let’s make your real estate goals a reality!📅 Book your free consultation today—whether you're buying or selling, I’ll guide you every step of the way!
📞 Richard Greaves🏡 RE/MAX Alpine Realty
📱 403-688-7629 | 📧 support@richardgreaves.ca
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