Author: Jason

We are excited to announce the sale of this beautiful Downtown Condominium!!!💯

Visualize this spacious and upgraded 901 sq ft 3rd floor open plan 2 bedroom executive condo has panoramic south mountain views from East to West overlooking tranquil Policeman’s Creek. This well taken care of unit boasts many upgrades including cedarstone countertops with large eating bar, stainless steel appliances and oak flooring along with stunning furniture to make this completely turnkey. The open floorplan connects the kitchen through the living room and out to the view deck. The master bedroom has double closets and ensuite bath while a second bedroom, full bath and laundry room complete the package. Other features include toe warming in floor heating throughout, 1 heated underground parking stall and additional storage. Great full time or part time residence this condo can be rented out short term as a tourist home. The building has secure elevator access and is a stone’s throw from all the services of downtown Canmore with immediate access to walking, running and biking trails.

We appreciate everyone who contributed to the success of this sale.

Are you still seeking for the perfect mountain town home? Check out canmorerealestate.com

As we pass through the first month of the year, the market continues to struggle with a significant deficiency in the number of listings. As of early February 2023, we have 81 active listings in all market segments.  In 2022 we saw record lows for listing inventory and only January and February of 2022 were lower than January and February of 2023.  To put this into perspective, if we look at the last 20 years of our market the average listing active inventory sits at 238 listings and the highest active listing inventory was 524 listings.

The media continues to talk about the real estate markets across Canada but this is a good example of how both Alberta and more specifically Canmore is quite insulated.  We have seen the rising interest rates affect first-time buyers and move-up buyers in the market. However, the second-home buyer, work-from-home buyer, and the retirement buyer tends not to be as affected by rate increases as many of them are not wanting financing. With the amount of buyers that continue to see all the benefits of Canmore as a recreational escape, retirement home, or a combination of the two continues to drive increased demand which is proving challenging with this low listing inventory. The number of sales is less than half of the record-breaking 2022 but very consistent with January sales pre-pandemic.  This continues to support our opinion that the market is moving back to the pre-pandemic sales volume with the added aspect of a lack of inventory. Currently, the market has 19 Single Family homes ranging in price from $1,319,000 to $8,717,800, 43 condos ranging from $419,000 to $1,575,000, and 8 full-ownership hotel condos ranging from $549,000 to $829,900.

With the lack of inventory if you are considering selling, now may just be the right time.  Please reach out to us so we can help you with more detailed and specific information.

We were excited to welcome close to two hundred and fifty Royal LePage Brokers, Agents, and staff from across Canada in January for a great networking opportunity.  We were able to plan an adventure day to show off our backyard and make connections while learning about different markets and expanding our skills. We also raised around $5,000 for the Royal LePage Women’s Shelter Foundation. Opportunities like this reinforce how blessed we all are to call Canmore and Banff home.

To read the full newsletter click this link; February 2023, Newsletter