As Spring Break and Q1 is behind us, how did the Canmore Real Estate market shape up for the month of March?
In March 2024, the Canmore market saw a total of 44 transactions, with an average sale price of $1,121,000, an average price per square foot of $743, and an average time on the market of 65 days.
Heres how each category broke down:
Single Family Homes
10 sales
Average Price $1,852,000
Average Sqft Price $837
73 days on market
Half Duplexes
3 sales
Average Price $1,553,000
Average Sqft Price $645
59 days on market
Townhomes
11 sales
Average Price $975,000
Average Sqft Price $663
51 days on market
Apartments
11 Sales
Average Price $749,000
Average Sqft Price $661
90 days on market
Land
1 Sale
Sale Price $1,500,000
Hotel Condos
6 Sales
Average Price $659,000
Average Sqft Price $727
49 days on market
Tourist Homes
2 Sales
Average Price $890,000
Average Sqft Price $998
17 days on market
Watch my Q1 market update here
Q1 2023 vs 2024 what were the trends?
Despite the challenges posed by high interest rates and the ongoing struggle with limited inventory in Canmore, there has been a notable 21% increase in sales year over year. Home prices have seen a 7% rise, accompanied by a 10% reduction in the average time it takes for homes to sell.
Let's compare the first quarters of 2023 and 2024:
Q1 2023:
Total Sales: 101
Average Price: $963,000
Average Price per Square Foot: $699
Average Days on Market: 56
Q1 2024:
Total Sales: 128
Average Price: $1,033,000
Average Price per Square Foot: $737
Average Days on Market: 62
Are you exploring the idea of buying or selling in Canmore? Feel free to schedule a complimentary appointment, either in person at our RE/MAX office in Canmore or over the phone. I'm here to address any inquiries you might have about Canmore Real Estate!
Here are some complimentary resources to aid you in your Canmore Real Estate journey:
For Buyers: Customize your complimentary property search - this feature will notify you via email when properties matching your criteria hit the market, ensuring you stay informed.
For Sellers: Utilize our complimentary Canmore home value calculator - Receive a complimentary home evaluation report, providing insights into your home's current market value! https://rem.ax/CanmoreHomeEvaluationReport
RE/MAX Alpine Realty
Richard Greaves Broker/Owner
Canmore Real Estate Questions? Contact me today!
403-688-7629
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