What is the market trends for homes in Canmore?

Canmore's housing market has been on an upward trajectory, with the average home price reaching approximately $1.25 million as of April 2025. This marks a significant increase from the previous year, reflecting the town's growing appeal. The market has seen a 15.8% monthly and 11.3% annual rise in average sold prices, indicating robust demand. However, the number of new listings has also increased https://canmorehomesforsale.ukit.me/, suggesting a shift towards a more balanced market. ​

Detached and Semi-Detached Homes: Leading the Charge

Detached and semi-detached homes have been at the forefront of Canmore's real estate surge. In Q3 2024, the average sale price for these properties exceeded $2 million for the first time, driven by strong sales in the luxury segment. This trend underscores the high demand for spacious, standalone homes offering privacy and panoramic mountain views. Click here now https://www.zupyak.com/p/4549793/t/what-is-price-of-houses-in-canmore

Condos and Townhouses: Attractive Alternatives

For those seeking more affordable options, condos and townhouses have become increasingly popular. In 2024, the average price for condos and townhouses was around $927,834, with properties typically selling within 48 days. These housing types cater to a diverse range of buyers, including first-time homeowners and those looking for low-maintenance living. 

Short-Term Rentals: Investment Opportunities Abound

Canmore's status as a year-round tourist destination has bolstered the short-term rental market. In 2024, 77 short-term rental properties were sold at an average price of $971,877, often selling faster than other property types. This segment presents lucrative opportunities for investors aiming to capitalize on the town's tourism-driven economy.

Looking Ahead: Market Outlook for 2025

As we progress through 2025, several factors are poised to influence Canmore's real estate landscape. The introduction of the Livability Tax, targeting non-primary residences, aims to encourage full-time residency and may impact investment strategies. Additionally, upcoming developments like the Three Sisters Village are expected to increase housing supply, potentially easing market pressures. However, with Alberta's economy projected to grow by 2.8% in 2025, demand for Canmore properties is likely to remain strong.