Banff Real Estate
Thinking of buying a home in Banff, Alberta? As it is located in Banff National Park, residents must meet the eligibility requirements set out by Canada's national park system - primarily the "Need to Reside" clause which, states that: Residency is restricted to occupants whose primary employment is within the grounds of the national park OR an individual who owns a business in the Park and whose presence is required for its day to day operations. Residents who are retired must have lived and worked in Banff for a period of 5 years prior to their retirement. Click here for the official residency requirements page from Parks Canada.
Banff MLS® Listings:
The Banff Real Estate Market
Since 1996 over 4 million visitors have flocked to Banff each and every year, and with 2017 marking Canada's 150th birthday the numbers were record setting. The Town keeps track of vehicle entry in to the park and considers 24,000 vehicles per day to be over-congested. This year, Canada Day weekend saw over 30,000 vehicles per day into the park and Sunday, July 2 set the all-time record at 34,275. The most recent statistics report a population of 7851 permanent residents living in 2729 private residences.
Historical sales statistics in Banff are somewhat unreliable due to the very small amount of properties that trade on the market each year. Determining market value is complicated because there are few examples to refer to and oftentimes sellers tend to value their properties more sentimentally and subjectively. In 2016 only 15 properties changed owners on the Banff real estate market. Below is a list of each property that sold in 2016:
TYPE |
ADDRESS |
LIST PRICE |
|
|
MLS |
BUILT |
Beds |
Baths |
SALE PRICE |
Condo |
$359,000 |
01 Banff |
Sold |
34438 |
2004 |
$359,000 |
|||
Condo |
$365,000 |
01 Banff |
Sold |
34309 |
2005 |
1 |
1 |
$350,000 |
|
Condo |
$379,000 |
01 Banff |
Sold |
34617 |
2009 |
2 |
1 |
$382,000 |
|
Condo |
$385,000 |
01 Banff |
Sold |
34833 |
1982 |
1 |
1 |
$379,000 |
|
Condo |
$410,000 |
01 Banff |
Sold |
34665 |
1980 |
2 |
1 |
$408,000 |
|
Condo |
$449,000 |
01 Banff |
Sold |
34223 |
$440,000 |
||||
House |
$529,000 |
01 Banff |
Sold |
33816 |
1940 |
3 |
2 |
$500,000 |
|
Town |
$575,000 |
01 Banff |
Sold |
34572 |
1996 |
2 |
2 |
$560,000 |
|
House |
$799,000 |
01 Banff |
Sold |
34399 |
1950 |
3 |
$772,500 |
||
Town |
$885,000 |
01 Banff |
Sold |
34023 |
1995 |
3 |
4 |
$870,000 |
|
House |
$930,000 |
01 Banff |
Sold |
34696 |
3 |
3 |
$915,000 |
||
House |
$950,000 |
01 Banff |
Sold |
34331 |
1960 |
6 |
2 |
$947,000 |
|
House |
$995,000 |
01 Banff |
Sold |
34748 |
1964 |
5 |
2 |
$995,000 |
|
Duplex |
$1,250,000 |
01 Banff |
Sold |
34123 |
1972 |
11 |
8 |
$1,175,000 |
|
Duplex |
A-228 MUSKRAT STREET |
$1,295,000 |
01 Banff |
Sold |
34128 |
2012 |
3 |
5 |
$1,250,000 |
Condos for sale in Banff represent the largest segment of the market in town with 6 sales of properties and an average sale price of $386,300. Not surprisingly, with so few properties trading on the market the Average Days on Market for these condos that sold was 26 days.