In Canmore’s real estate market, May 2022 was another Seller’s market month, with very few options to purchase and thus few sales. There is a market softening but not like we are seeing in Canadian cities, the demand remains strong in Canmore, just not the same demand that we saw earlier in the spring. We are seeing more listings and more price changes, and we have seen a levelling off in certain marketplace segments. There were 104 listings – up about 20%.
If you have any questions about Canmore’s real estate, please don’t hesitate to contact us here.
Canmore Detached / Townhomes / Duplexes Values
The average detached home sold for $2,030,800, only 19% higher than in May of 2021. Note this is due to a lack of higher-end transactions and very few detached homes on the market. Townhomes give us a much better sense of the significant gains in Canmore real estate values: $905,300, which is 8% higher than May 2021. Duplexes sold for $1,679,200 were 41% higher than in May of 2021.
➤ For more information on Canmore real estate, check out:
- Canmore Neighbourhood Guide
- Why Now Is A Great Time To Sell In Canmore
- Investing In Canmore Real Estate
- Looking To Buy In Canmore?
Canmore Condo Apartment / Hotel Condos / Tourist Home Values
The Canmore condo real estate segment is where we are seeing a little bit more of the market shift. It’s not a large shift but you can see the entry-level market slowing down – note that entry condos are what drive real estate values up into homes – it’s a key indicator. Condo apartments sold for $545,000, 7% lower than May 2021. Hotel condos sold for $859,500, up 31% over the year. Tourist homes sold for an average of $824,600, flat at 0%.
Canmore Sales & Days On Market
We saw an uptick in available homes for sale in Canmore. 66 listings sold with an average of 37 days on the market (which is a slight uptick in DOM.) Note that the number of sales was down 37% from May of 2021, this is a Seller’s market and will remain so for some time to come due to the number of Canmore Buyers.
