Your 2024 Canmore Real Estate Market Review
It's time to reflect on the exciting trends and achievements in Canmore's real estate market. Whether you're a longtime local, a first-time buyer, or someone looking for an investment property, this year offered plenty of insights and opportunities.
Let’s dive into the numbers and see what made 2024 a year to remember for real estate in Canmore!
Single Family Homes & Duplexes
The epitome of mountain living, single-family homes and duplexes are always a hot ticket in Canmore. This year, 91 properties were sold in this category, with an impressive average price of $1,892,071. These homes spent an average of 55 days on the market, reflecting a steady demand for these larger, more private spaces.
The market for single-family homes shows that buyers are willing to invest in Canmore’s lifestyle—where spacious living, stunning views, and access to nature are unmatched. Whether you’re seeking a family home or a peaceful retreat, these properties remain a top choice.
Condos & Townhouses
For those seeking convenience and community, condos and townhouses offered plenty of opportunities in 2024. This segment saw 170 sales, with an average price of $927,834. These properties typically sold faster than single-family homes, with an average of just 48 days on the market.
Condos and townhouses are ideal for first-time buyers, seasonal residents, and those looking for a more maintenance-free lifestyle. Their popularity shows no signs of slowing down, making them a fantastic option for those ready to call Canmore home.
Short-Term Rentals
The short-term rental market remained robust in 2024, thanks to Canmore's appeal as a year-round destination. With 77 properties sold at an average price of $971,877, this segment offered strong investment opportunities. These properties were snatched up quickly, spending an average of just 41 days on the market.
Canmore continues to be a hotspot for vacation rentals, with buyers capitalizing on the demand for unique stays in the Rockies. If you’ve been thinking about investing in a short-term rental, it’s clear that this market remains lucrative.
Looking Ahead: The Future of Real Estate in Canmore
What does 2025 have in store for Canmore's real estate market? While the crystal ball isn’t perfect, a few trends are already emerging. The Bank of Canada’s interest rates will undoubtedly play a key role in shaping buyer behavior. With rates expected to remain stable or potentially adjust slightly, this could influence affordability and overall market activity.
Canmore’s allure as a destination for work, play, and relaxation will only continue to grow. Whether you’re eyeing a family home, a cozy condo, or an income-generating property, the market in 2025 is shaping up to be just as exciting as this year.
Let’s Work Together in 2025!
At Coldwell Banker Lifestyle, we’re proud to have been a part of your real estate journey in 2024. Whether you bought, sold, or just started exploring, we’re here to help you every step of the way.
Our team of knowledgeable REALTORS® knows the Canmore market inside and out. If you have questions about the numbers, trends, or how to plan your next move, don’t hesitate to reach out. From personalized advice to in-depth market insights, we’re committed to helping you achieve your real estate goals.
Thank You, Canmore!
A heartfelt thank you to everyone who made 2024 a remarkable year. We’re grateful to serve this incredible community and look forward to working with you in the year ahead. Here’s to new beginnings, fresh opportunities, and all the adventures 2025 will bring.
Happy New Year from all of us at Coldwell Banker Lifestyle!
Posted by Ryan Lefebvre on
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