One of the most frequent questions we get asked by prospective buyers in Canmore is: when is it a good time to buy? The truth is that there is no easy answer to this, and it often comes down to the needs and motives of each buyer. The market does fluctuate and there are some more favourable times. Canmore’s real estate market does not follow the typical seasonal trends of most areas, and as such it can be hard to predict for those coming into town and wanting to buy a property but avoid certain aspects of a seller’s market. Using an experienced Canmore real estate agent can help buyers navigate supply and demand.
Buying to live in Canmore
If you’re looking to make the Bow Valley your permanent home, there
Home sales in Canmore got off to a slow start in 2019 with a 25% reduction in the number of residential real estate transactions*. The Canadian Real Estate Association released a report in March explaining that nearly 75% of local markets nationwide are experiencing similar numbers. Month-over-month decline is the largest since the federal government introduced the new
A total of 80 Hotel Condos changed hands on MLS in 2018 accounting for 18.4% of the total resale real estate market which, is an amazing feat given that traditional financing does not apply on these types of properties. With that in mind, buyers have few options other than using entirely their own funds or a combination of cash plus a line-of-credit. Very few of these condos are kept as primary
The summer of 2018 was marked by above average temperatures and a persistent shroud of smoke from the BC wildfires, but that did not deter outdoor enthusiasts and tourists from making the most of all that Canmore has to offer. In real estate, it was particularly difficult to schedule showings of hotel-condo type properties because of near 100% occupancy all of the time. Many would-be buyers were frustrated by both the lack of available inventory and the inability to view the few options that were available. For those with an interest in the long-term viability of Canmore's tourism industry and its ability to sustain real estate prices, it was rock-solid evidence that despite uncontrollable
Perhaps the most interesting storyline to happen in real estate for July, 2018 was the rare sale of a home over $4 million. 18 Van Horne was originally listed back in October of 2017 for a staggering $5,759,900 but after 253 days with no sale, the quintessential luxury mountain cabin sold at a nearly 30% discounted price of $4,139,000. The sellers shouldn't be too upset however as there has never actually been a home sell on the Canmore real estate market for more than $5,000,000. In fact, there has only been 1 other sale (also this year) of a home over $4,000,000. While the sellers may not have cracked the 5 million mark, they have still earned themselves the honour of selling the most expensive home