As we enter the month of July, it's the perfect time to take a comprehensive look back at the second quarter of 2023 and analyze the market conditions. Whether you're a prospective buyer or seller in Canmore, this video has valuable insights into market conditions, sales, prices, and days on the market. By staying informed about the trends and developments, you'll be equipped with all the information you need to make an informed decision when it comes to buying or selling in Canmore.
MARKET UPDATE VIDEO
JUNE OVERVIEW
In the month of June, Canmore saw 39 sales, with an average price point of $1,112,000, an average square footage price of $737, and the average days on the market was 36.
Year over year, for the month of June - the average square footage price has increased by $66 per square foot.
INDIVIDUAL HOME TYPE BREAKDOWN
SINGLE FAMILY HOMES - In this category, we sale a total of 9 Sales, with an average price point of $1,731,000, an average square foot price of $798, and average days on the market of 20.
HALF DUPLEX - This category saw two sales, with an average price point of $1,868,000, an average square footage of $805, and an average days on the market of 11 days.
TOWNHOMES - In the townhome category there was a total of 9 sales, an average price point of $1,024,000, an average square footage price of $659, and total average days on the market of 31.
APARTMENTS - In this category, we saw 5 sales, with an average price point of $722,000, an average square foot price of $558, and average days on the market of 50.
HOTEL CONDOS - This category had the most sales for the month, with a total of 12 sales, an average price point of $693,000, an average square foot price of $798, and average days on the market of 41.
TOURIST HOME - With just one sale in this category, an average price point of $1,570,000, a square footage price of $915, and average days on the market of 183. This sale was a brand-new construction, tourist homes typically have a higher square footage price due to their flexibility compared to hotel condos.
LAND - We had one piece of land sell in the month of June, with a price point of $1,339,000, and days on the market being just 21.
APRIL TO JUNE
Comparing Q2 April-June, year over year, there has been a decrease in sales by 33%, but the price point is up by 14%.
In the first 6 months of Q2 Canmore home prices have increased by 32% since 2019. The average price and square foot price are at the highest with a price point of $1,057,000 and an average square foot price of $733. A lack of inventory in Canmore is still driving prices in the market right now.
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RICHARD GREAVES BROKER/OWNER | RE/MAX ALPINE REALTY
Questions on the Canmore real estate market? Thinking about buying or selling? Please contact me at support@richardgreaves.ca, or at 403-688-7629