Luxury Sales Dominate in December

It must have been a happy holiday season for several lucky home buyers in Canmore after the sale of 3 homes this past month valued at over $2,000,000 which, includes the sale of #6-226 Benchlands Trail at $3,825,000.  3 sales may not seem all that significant but if you take a look at the luxury market as a whole in 2017, there were only 11 sales in total above the $2M mark for the year and only 2 properties traded on the Canmore real estate market for more than $3,000,000 in 2017.  Also noteworthy is the fact that all 3 of the luxury property sales in December sold well below the average days on market for single family properties in town.  In a typical month, detached homes spend roughly 42 days on the market whereas the 3 luxury home sales in December spent only 13, 15 and 19 days on the market.

6-226 Benchlands Trail Canmore

6-226 Benchlands Trail | List Price: $3,995,000 | Sale Price:  $3,825,000 | Days on Market:  19


Statistics

  • Breakdown of the 25 property sales in December:
    • 5 Condos
    • 9 Townhouses
    • 0 Half-Duplexes
    • 7 Single Family Homes
    • 4 Recreational Condos
  • Average Sale Price Per Property Type:
    • Condo  |  $570,060 avg.  |  $225,000 low  |  $1,171,800 high
    • Townhouse  |  $610,900 avg.  |  $300,000 low  |  $1,020,000 high
    • Single Family Home  |  $1,756,050 avg.  |  $713,000 low  |  $3,825,000 high
    • Recreational Condo  |  $392,625 avg.  |  $300,000 low  |  $550,000 high
  • Average Days on Market Per Property Type:
    • Condo  |  80 average days on market
    • Hotel-Condo  |  50.5 average days on market
    • Townhouse  |  64.2 average days on market
    • Single Family  |  24.71 average days on market
    • Average Days on Market: 54.8

Hottest 'Hoods

  1. Bow Valley Trail - 5 sales
  2. Three Sister's Mountain Village - 4 sales
  3. South Canmore - 3 sales

List Price to Sale Price Ratio 

One question that I frequently get asked is how much properties are selling for in relation to their list price.  This ratio of sale price to list price can be useful during a negation as a general guideline when trying to determine what price the sellers are hoping to get for their property.  Of the 25 sales in Canmore for the month of December, here are the statistics pertaining to this ratio:

  • Average List Price to Sale Price Ratio:  97.8%
  • Properties that sold for 100% or more of list price:  6
  • Lowest sale price to list price:  2 Properties traded at 92% of list price

*Please note that this number is to be used as a general guideline only - individual property owners are entitled to list their homes for whatever amount they choose and ultimately each seller has their own wants and needs with regards to the sale of their home.


Active MLS Listings

As of December 30th there were 130 active listings on the Canmore real estate market with only 9 new listings hitting the market in December. 

 

 

 

 

 

 

 

 

Posted by Ben Maize on
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