What Are Canmore Homes Selling For? | Housing Market Update | Latest Trends And Insights
Whether you're a first-time home buyer, an investor eyeing Canmore vacation properties, or contemplating a change in your current residence, we're here to provide you with a comprehensive analysis of Canmore's July real estate sales, to help you make a more informed decision when buying and selling in Canmore.
During July, Canmore witnessed 39 property transactions, boasting an average price of $979,000 and a square foot cost averaging $683. To offer a more detailed perspective, let's delve into the specific property categories.
In the single-family home category, Canmore saw 5 properties sell, with an average price point of $1,586,000, an average square foot price of $545, and average days on the market of 34.
Duplex sales were 2, with an average price point of $1,650,000, and an average square foot price of $709, and they were sitting on the market the longest of the individual categories, with an average of 90 days.
In the townhome category, Canmore saw 11 properties sell, with an average price point of $1,030,000, an average square foot price of $636 and they were selling on average in 35 days.
8 Apartments sold for the month of July, with an average price point of $529,000, an average square foot price of $690, and an average days on market of 24.
The hotel-condo category saw 8 properties sell for the month of July, with an average price point of $715,000, an average square foot price of $753, and average days on the market of 47.
Tourist homes had a total of 5 sales, with an average price point of $872,000, an average square foot price of $832, and average days on the market of 18.
HOW DID THE AVERAGE SQFT PRICES COMPARE?
When comparing the average square foot price side by side, Tourist homes came out on top with an average square foot price of $832, closely followed by Hotel Condos ($753). Tourist homes typically have a higher sqft price when compared to hotel condos as they have more flexibility, as you can rent them out or live in them full time.
At the lower end of the spectrum, single-family homes got the cheaper average square foot price ($545), followed by townhomes ($636)
WHAT PROPERTY TYPE WAS MOST EXPENSIVE?
When comparing the average square foot price to the average price point for July, the rankings change. The most expensive property type for July was Half Duplexes with an average price of $1,630,000, followed by Single Family Homes of $1,586,000. At the lower end, the cheapest residential option was an apartment with an average price point of $529,000.
HOW QUICK ARE PROPERTIES SELLING?
For average days on the market, the fastest-selling type of property was tourist homes, selling on average in 18 days. The slowest-selling property type was Half Duplexes, selling on average in 90 days.
Are you looking at buying or selling in Canmore?
BUYERS - If you're looking to buy in Canmore, set up your complimentary email search today! It's a great way to keep up with the Canmore market and see what's selling and how much for. It's also great to be the first to know when a new property comes to market, so you can schedule viewings or ask questions about the property. It is free and easy to set up, follow the link here.
SELLERS - If, for your personal financial planning, you would like an updated evaluation of your Canmore home - with no obligations, complete the 2-minute form below to start your complimentary home evaluation.
Your Canmore July market update, brought to you by Richard Greaves, RE/MAX Alpine Realty. Keep informed - watch my full market update video here!
Richard Greaves Broker/Owner
RE/MAX Alpine Realty