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:

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$8,200,000

127 Banff Avenue, Banff

0 Beds 0 Baths 0 SqFt Commercial MLS® # A1156607

RE/MAX Cascade Realty

$6,825,000

425 Muskrat Street, Banff

0 Beds 0 Baths 0 SqFt Commercial MLS® # A1066123

RE/MAX Cascade Realty

$5,550,000

301 Buffalo Street, Banff

7 Beds 7 Baths 4,906 SqFt Residential MLS® # A1159262

SOTHEBY'S INTERNATIONAL REALTY CANADA

$4,999,999

451 Banff Avenue, Banff

0 Beds 0 Baths 0 SqFt Commercial MLS® # A1080256

RE/MAX Cascade Realty

$3,290,000

136 Otter Street, Banff

9 Beds 9 Baths 4,367 SqFt Residential MLS® # A1131955

RE/MAX Cascade Realty

$2,850,000

137 Muskrat Street, Banff

0 Beds 0 Baths 0 SqFt Commercial MLS® # A1161359

RE/MAX Cascade Realty

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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	208-343 MARTEN STREET	$359,000	01 Banff	Sold	34438	2004			$359,000
Condo	204-113 CAVE AVENUE	$365,000	01 Banff	Sold	34309	2005	1	1	$350,000
Condo	205-201 MUSKRAT STREET	$379,000	01 Banff	Sold	34617	2009	2	1	$382,000
Condo	13-404 SQUIRREL STREET	$385,000	01 Banff	Sold	34833	1982	1	1	$379,000
Condo	9-401 MARTEN STREET	$410,000	01 Banff	Sold	34665	1980	2	1	$408,000
Condo	402-436 BANFF AVENUE	$449,000	01 Banff	Sold	34223				$440,000
House	439 MUSKRAT STREET	$529,000	01 Banff	Sold	33816	1940	3	2	$500,000
Town	2A-409 MARTEN STREET	$575,000	01 Banff	Sold	34572	1996	2	2	$560,000
House	606 CARIBOU STREET	$799,000	01 Banff	Sold	34399	1950	3		$772,500
Town	6 ANTELOPE LANE	$885,000	01 Banff	Sold	34023	1995	3	4	$870,000
House	126 MUSKRAT STREET	$930,000	01 Banff	Sold	34696		3	3	$915,000
House	410 COUGAR STREET	$950,000	01 Banff	Sold	34331	1960	6	2	$947,000
House	228 MUSKRAT STREET	$995,000	01 Banff	Sold	34748	1964	5	2	$995,000
Duplex	128 MUSKRAT STREET	$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.