What happened in the Canmore real estate market in October 2017?

As is normally the case, real estate sales stayed strong into the fall season and October marks the first month this year where the number of properties sold exceeds the number sold in 2016.  Every other month so far this year has produced fewer sales than the previous year but 58 homes sold this past month which, represents roughly 9% more than the 53 properties that traded in October 2016.  Sales of luxury properties continued to gain momentum this month with 2 sales of properties valued at more than $2 million. 

529 Silvertip Pointe Canmore

529 Silvertip Pointe was on the market for well over 2 years and was originally listed at $3,590,000 in June of 2015.  This stately mountain abode measures an impressive 5400 square feet and backs on to the pristine 15th hole of the Silvertip golf course.  After several price reductions the property eventually settled at a list price of $3,100,000 and sold for $2,825,000.

297 Miskow Close Canmore

297 Miskow Close on the other hand spent considerably less time on the market.  This property was listed for $2,248,000 in July of this year and saw no price reductions - eventually selling above asking price for $2,250,000. 


Statistics

  • Breakdown of the 58 sales in October:
    • 16 Condos
    • 14 Townhouses
    • 5 Half-Duplexes
    • 10 Single Family Homes
    • 10 Recreational Condos
  • Average Sale Price Per Property Type:
    • Condo  |  $442,090 avg.  |  $240,000 low  |  $713,000 high
    • Townhouse  |  $636,715 avg.  |  $416,500 low  |  $1,125,000 high
    • Half-Duplex  |  $979,610 avg.  |  $729,900 low  |  $1,303,150 high
    • Single Family Home  |  $1,230,483 avg.  |  $734,000 low  |  $2,825,000 high
    • Recreational Condo  |  $398,945 avg.  |  $290,000 low  |  $618,450 high
  • Average Days on Market Per Property Type:
    • Condo  |  39.5 average days on market*
    • Townhouse  |  45.5 average days on market
    • Half-Duplex  |  44.8 average days on market
    • Single Family  |  41.2 average days on market
    • Average Days on Market: 42.75 days 

*One property across all property types sold on its first day on the market:  110-170 Crossbow Place, a 2 bedroom 1300 sqft fully furnished condo listed by Century 21 Nordic Realty for $469,000 and sold for $460,000.


Hottest 'Hoods

  1. Bow Valley Trail (15 sales)
  2. Three Sister's Mountain Village (14 sales)
  3. Spring Creek Mountain Village (5 Sales)

For the third month in a row, Bow Valley Trail was the most popular community in town, driven by sales of Canmore Condos on Kananaskis Way.


Year to Date

At the end of October 2016 there had been a total of 435 firm and unconditional sales.  This year, the total number of sales sits at 420 for the same period representing roughly a 3.5% decrease in the number of properties trading on the market annually.   

 

 

 

 

 

 

Posted by Ben Maize on

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