Author: Katie OSullivan

What’s happening in Canmore?- November 2024

Posted on by Katie OSullivan

2024 Canmore Christmas Artisans’ Market

November 16 & 17, 2024- 10am to 4pm

Looking for the perfect one of a kind gift? Pop down tot he Canmore Rec. Center on November 16th and17th to scout out stalls from 75 artisans and makers of hand crafted items. $5 admission. Children under 12 are free. All proceeds going to the Canmore Preschool Society.

More info HERE

The Most Beautiful Whisky Festival On Earth

November 29th and 30th – Multiple location in Banff

In a mountain paradise, where your senses are heightened and honed, the Banff Whisky Experience celebrates the craftsmanship of the finest whisky distilleries in the world. This is no ordinary festival. In one of the world’s most picturesque settings, over seventy distilleries from around the globe will be pouring hundreds of different whiskies for you to taste, talk about and experience. We know you crave unique & exclusive experiences — and this fall that is exactly what we will deliver in Canada’s exquisite Rocky Mountain setting.

More info HERE

Banff Christmas Market

Multiple dates – Banff Train Station

With over 150 artisanal vendors, 13 days of magic, live music, an outdoor fire lounge, Santa’s House & Workshop, Christmas treats & warm drinks there is something for the whole family! Christmas comes but once a year, so make the most of it and join us at the Banff Heritage Train Station for what will quickly become a family tradition.

More info and tickets HERE

The 32nd Royal LePage Solutions Annual Food Drive

December 4th- 5:30pm- Canmore Chrysler

Join us for our 32nd Annual Food Drive in support of the Bow Valley Food Bank. This year more than ever the food bank is in need. On the evening of December 4th we aim to knock on every door in Canmore and ask for donations of non- perishable food items. In order to achieve our goal we need help from volunteers.

Do you want to give back to our community? Do you and your friends want to have a great night while also helping an extremely important cause? Are you and your colleagues looking for a way to support the community this Christmas? Come help us out on the evening of December 4th. You can opt to help pack, weigh or walk. All help is greatly appreciated. After the food drive we will host a lite bites and drinks reception at our brokerage (101, 710 10th Street, Canmore) for all the volunteers.

To volunteer or learn more click HERE

Want to learn more about the current real estate market in Canmore. Check out our monthly Newsletter

November Newsletter 2024

Posted on by Katie OSullivan

November, Winter Fun and Food Drive Preparations!

As we step into November, the Bow Valley is buzzing with excitement! We’re thrilled to announce that the 32nd Annual Food Bank Drive is just around the corner. It’s heartwarming to remember that Brad was one of the original organizers of this incredible event. Since Drew joined the team in 1998, he’s seen firsthand just how vital this event is for our community. We are absolutely delighted to be a part of it once again! Check out the details and volunteer sign-up sheet below in the newsletter. Your help makes all the difference!

Ski hill updates

With Frozen Thunder now open at the Canmore Nordic Centre and our beloved local ski hills—Lake Louise, Sunshine, and Mount Norquay—all set to open this week, the air is electric! We’re seeing so many people getting their skis and snowboards tuned up and proudly strolling down the street with brand-new gear. The anticipation is contagious!

Real Estate Market

In the real estate market, October 2024 was a standout month with a 23% increase in sales compared to October 2023. While this jump is impressive, 2024 has been more stable overall, without the dramatic peaks and valleys of the previous year. Year-to-date figures are steady, with just a 1.4% variation year over year. The close list-to-sale ratio highlights the consistency we’ve enjoyed, something we have not seen in many years.

Notable changes

The only notable change is a 10% increase in the average days on the market (around 5 extra days per sold property on average). This is likely due to a 25% rise in our listing inventory for 2024 compared to 2023. Despite this, our market is still in need of more inventory, as we are 32% below the five-year pre-COVID average.

Food Drive

As mentioned above, and with more details below, the Royal LePage Food Bank Drive is happening on Wednesday, December 4th. This is our biggest request of the year, and we need your help for just a few hours in the evening. We are happy to pick up any donations, whether non-perishable food or monetary contributions. Let’s come together and make this year’s drive the best one yet!

Volunteer and learn more about our food drive HERE

Canmore Housing Action 2025

Posted on by Katie OSullivan

The livability Tax Program

A new tax rate has been introduced for Canmore properties in 2025. The goal is to incentivize the full time/long term occupancy of homes. The town of Canmore has sent letters out to all homeowners on October 30th, 2024 to inform them of this change. More details can be found at https://www.canmore.ca/your-government/projects/housing-action

A summary of the program is below:

Any owner of a residential property, or their authorized agent, will be required to annually declare if their property qualifies for the primary residential subclass by December 31 of each year.

How do I know if my property qualifies as a primary residence?

  1. To qualify as a primary residence:
    1. the property cannot be a tourist home,
    2. an owner or renter must live in a dwelling unit on the property for at least 183 cumulative days in a calendar year,
    3. 60 of the days must be continuous. This does not mean the owner or renter can’t go away for the weekend or on vacation, it means the property is your primary residence you return to. This provision is meant to preclude properties being rented out short-term from qualifying.

How do I declare my properties status?

Residential property owners in Canmore will need to declare whether it was occupied full-time during the past year. Failure to declare will automatically assign your property to the higher tax rate. Only one declaration per tax roll is accepted.  Declarations are due by December 31, 2024. To declare your property go to canmore.ca/HousingDeclaration. You will need your tax roll number and access code to complete the declaration.

  • The letter mailed out to residential properties on October 30, 2024 contains the tax roll number and access code for you to complete this declaration.  
  • If you have not received your letter by November 8, email taxes@canmore.ca for assistance. 

Declarations will be required by December 31st of each year for the purposes of assessing taxes owing in the following calendar year. For example, a declaration attesting to the property’s qualification as a primary residence in 2024 will be due by December 31, 2024, for the purpose of assessing the 2025 property taxes. Print and/or retain a copy of your declaration for your records.

Additional Program Details

  1. Apartment buildings and employee housing as defined in the bylaw, and individually titled residential parking stalls and storage units will be automatically placed in the primary residential subclass, no declaration will be required.
  2. There will be a number of exemptions that preclude owners from occupying or renting out their properties in a year. In order to have an exemption recognized, a declaration will still need to be made. The exemptions include:
    1. the owner is hospitalized, or placed in a long term or supportive care facility,
    2. the owner passed away,
    3. a dwelling unit on the property was impacted by a catastrophic event that precluded occupancy,
    4. a dwelling unit on the property was undergoing permitted repairs or renovations that precluded occupancy, or
    5.  written order was in force that prohibited occupancy,
    6. the property was sold to an arm’s length party.

How much will the taxes be?

This will come about from future decisions. As part of the regular budget process, Council will determine how much livability initiative funding revenue to collect each year, then in the spring, using the property tax mechanisms, be asked to set the tax rates needed to collect the budgeted amount.

A range of values was presented to Council at the August 20, 2024 meeting, for informational purposes. You can take a look at the table presented under Council Meetings 2024/August 20 agenda package (item # G-1 which starts on page 46) on this link.

For the median assessed residential condo ($761,000), for the range of values presented to Council, at 0.10% of assessed value, the increase in municipal taxes would be $761, and at 0.40%, it would be $3,044. For the median residential property ($1,043,000), at 0.10% it would be a $1,043 increase in municipal taxes and at 0.4%, it would be $4,172.  Please note they have not decided on the rate and in the spring will announce the rate for that year.

Go to the Town of Canmore website for more information and to submit your declaration.

Where will these increased taxes fund

The town of Canmore has stated these funds will “go towards funding affordability initiatives in Canmore. This could be used for a variety of community assets from land purchase for affordable housing, to paying for infrastructure that supports housing development.”

October 2024 Newsletter

Posted on by Katie OSullivan

Canmore Real Estate Market Update: Fall 2024

As we move through October, we are reminded why fall is one of the best times of year to enjoy the Bow Valley. With the larch trees going vibrant yellow it gives (or makes) going out for a walk/hike or bike ride a special event. The real estate market continues to be quite steady with a gentle rise in the number of listings on the market while sales are staying quite steady.

Market Overview

Listing Inventory

To expand on the comments above we have seen the listing inventory rise each month starting in March with an average increase of 7% per month. Our inventory on October 1st this year is 21% higher than October 2023 yet 22% lower than the average listing inventory in October over the last 10 years. What does this mean? It looks like our market is very slowly moving closer to a balanced market but expectations are that we will move back to a sellers market before we reach what we would call a balanced market.

Sales And Pricing

We prefer to comment on the quarterly sales numbers as they historically give us more accurate data with a larger sample size.(Even better than quarterly is the yearly review which we will send out in January 2025) For average sales prices we have seen each market segment rise throughout 2024 to date with the exception of townhomes which rose through the second quarter but fell to very similar levels of the first quarter in this past third quarter. With the slight increase in inventory some buyers are feeling less urgency to act quickly which has resulted in missing out on the property they would like in some instances and price reductions in others. We are definitely seeing more polarization of some sellers that are not as motivated and hence more comfortable to wait for the right buyer while others that are less patient targeting the current market price with their property.

Days On Market

The days on market for sold properties is staying quite consistent since 2022 and much less than pre pandemic levels. Lastly, the MOI (Months of Inventory is a calculation on the numbers of months it would take to sell all the currently listings with no new inventory coming to Market based on number of past sales) has been quite steady this year and is on the sellers market side of a balanced market with 4 MOI this month and an average of 3.23 MOI for 2024 (note that a balanced market is typically around 6 months of inventory although we often use 4-6)

Winter Is Coming

With the Banff Mountain Film Festival arriving at the end of October, we are all getting excited about the start of ski/snowboard season. We never forget how lucky we are to live in the mountain paradise where we get to trade our bikes, hikers and running shoes for downhill/cross country ski’s, snowboards, toboggans and snowshoes. Weather dependent we expect to see frozen thunder open at the Canmore Nordic Centre later this month with the ski hills opening shortly thereafter (see the links below for latest opening dates).

Links to Ski Resorts

Frozen Thunder – https://www.albertaparks.ca/parks/kananaskis/canmore-nordic-centre-pp/activities/cross-country-skiing/frozen-thunder/

Lake Louise – https://www.skilouise.com/

Sunshine Village – https://www.skibanff.com/

Banff Norquay – https://banffnorquay.com/winter/

2024 Annual Royal LePage Food Drive

We are thrilled to announce our annual food drive will take place on December 4th this year. This event  truly exemplifies the saying, ‘it takes a village.’

Every year, a dedicated team of volunteers from our brokerage and the Canmore community takes on the significant task of knocking on every door in town to collect non-perishable food items for the Bow Valley Food Bank.

We love involving the entire community, whether through donations or volunteering. We look forward to seeing you all at the event.

Stay updated by checking our website, social media channels, and this newsletter in the coming months for more details and volunteer opportunities.

Want to know about upcoming events in the Bow Valley CLICK HERE

What’s happening in Canmore- October 2024

Posted on by Katie OSullivan

Friday Night Comedy: Allyson Smith with Danny Sutcliffe

October 18th – 7:30pm – Arts Place

After her initial forays into standup garnered her some success, Allyson hit the comedy club circuit, which in turn propelled her to headlining gigs at festivals. She shone in multiple high-profile slots at the Winnipeg, Halifax and Montreal’s Just For Laughs festivals. And that was just the start. In the years that followed she received multiple nominations for Best Female Stand-up at the Canadian Comedy Awards, taped her own Comedy Now special and did stints on MuchMusic’s Video on Trial and CBC’s The Debaters.

Don’t forget to get your tickets https://artsplacecanmore.com/whats-on/music-and-performance/allyson-smith

Park to Pints – 5km + 10km Road Race

October 19th- Our Lady of the Snows Catholic Academy

In partnership with Strides Canmore and Salomon, CAMBA is co-hosting our first ever 5km and 10km road race, starting and finishing from Our Lady of the Snows Catholic Academy in Three Sisters. The event takes place on October 19th with a beer garden, food truck, and live music by The Ducks after the races wrap up. All funds raised from registration will go directly to CAMBA and future trail work.

Registration details and more information can be found at https://park2pints.ca/. We hope to see you on October 19th!

Pumpkin Carving Contest with CYAN

October 23rd – 6:30- Sheepdog Brewing

Celebrate spooky season this month by joining Sheepdog Brewing for a special pumpkin-carving contest! 🔪 Bring your best pumpkin-carving skills and compete for the chance to win a voucher for two for a Canmore ghost tour, kindly donated by Banff Canmore Ghost Walks. 🎟️👻 as well as a No Se Llama Yerba Mate gift bag!

More info HERE

Banff Film Festival

October 26th- November 3rd- Banff Center for Arts and Creativity.

The 49th annual Festival features 90 films and over 80 events, bringing and stories of adventure and exploration from around the world to Banff Centre for Arts and Creativity in Banff, Alberta. Mountains of FREE events include talks, exhibitions, and the Festival Marketplace. The Festival also features events and screenings at Lux Cinema Banff, artsPlace Canmore, and other partner venues in downtown Banff.

Get your tickets at The Banff Center website.


Kids Halloween Party

October 29th from 11am- 3pm at the Canmore Library.

Kids and their families are invited to join the Canmore Library program room on Saturday, October 29th for a Kids Costume Halloween Party! Come dressed in your Halloween costumes for spooky stories, games, crafts and activities, a monster mash dance party, and so much more! This program will run from 11:00am – 3:00pm. Drop in anytime! Spooky Stories will be read at 11:30am and 1:30pm, with lots of activities in between. Happy Halloween!

More info can be found on The Canmore Library website

2024 Royal LePage Annual Food Drive

December 4th, 2024

We are thrilled to announce our annual food drive will take place on December 4th this year. This event  truly exemplifies the saying, ‘it takes a village.’

Every year, a dedicated team of volunteers from our brokerage and the Canmore community takes on the significant task of knocking on every door in town to collect non-perishable food items for the Bow Valley Food Bank.

We love involving the entire community, whether through donations or volunteering. We look forward to seeing you all at the event.

Stay updated by checking our website, social media channels, and this newsletter in the coming months for more details and volunteer opportunities.

September 2024 Newsletter

Posted on by Katie OSullivan

Embracing Fall in the Bow Valley: Market Insights and Seasonal Reflections

The evenings are starting to cool but the start of September has been fantastic with a colder and rainy day as I write this. Another successful Highland Games and the Kids are back in school means we are now fully focused on fall. The Bow Valley is still welcoming many visitors as we have always found September and October tourism staying strong. While out for a run on the local trails in Canmore and Banff it is great to overhear multiple different languages as I pass by locals and visitors alike taking in our stunning mountains.

Market Evaluation

On the graphs within this newsletter, you will see substantial increases in median sale prices, but I will caution reading too much into that as sample sizes allow larger swings in some monthly numbers. Next month we will be reviewing the 3rd quarter of the year which always brings more tangible comparatives. Our listing inventory continues to inch its way up but as we have been saying we are a far way off from what we have seen as a balanced market. For reference, since we started pulling these numbers almost 25 years ago the highest inventory was over 500 listings on the market in 2011 and the lowest was 56 in the intense post covid days of 2022. As of writing this in the second week in September our market currently has 159 active listings.

Market Demands

With the covid affect on listings and sales a great reference point is comparing our market to September 2019, just before the pandemic. Our listing inventory was 256 on September 1st  which was 68% higher than September 1st, 2024 inventory. In terms of sales, all segments in August 2024 had fewer sales than August 2019 except for townhomes, which makes sense as many buyers are still waiting for the right property to make the move to Canmore or to move within the market. Speaking of moving within the market, we have begun to see the fall buyers looking for a property for ski season (and beyond) and often these buyers will move up and down in the market as the needs of their families change. They may start with an apartment style condo and then move up to something larger as the kids get older and potentially even larger again as they fall in the love with Canmore and look to semi-retire or retire here.

It truly is our pleasure to work hard and put our knowledge and experience to work helping our clients sell and/or buy their mountain home and would be excited to help any of your friends or family with all their Real Estate needs. We are never too busy for your referrals!

CHECK OUR OUR OTHER NEWSLETTERS HERE

What’s happening in Canmore- September 2024

Posted on by Katie OSullivan

Canmore Festival of Arts and Creativity – September 13th-15th- Arts Place

Enjoy art workshops, artist demonstrations, hands-on activities, films, a community campfire, outdoor markets, and live performances – art and creativity will abound, promising fun for people of all ages to enjoy.

More info and full schedule HERE

CANMORE’S FIRST WOMEN’S ONLY ENDURO -September 21st from 9am-5pm- Canmore Nordic Center

The aim is to be Canmore’s most supportive Enduro Race – just for women. From first-timers to experienced racers, this is the race for you! What to Expect? Expect high fives, good vibes and a ton of fun! The Canmore Enduro will feature both an Intermediate Blue Course and a more challenging Black Course.

More Info HERE

Millennium Park Run – Saturday, September 21, 2024 at 9:00am – 10:00am

ParkRun is a free, community event where you can walk, jog, run, volunteer or spectate.

ParkRun is 5k and takes place every Saturday morning at Millennium Park in Canmore and starts where the path meets the River Trail. You can expect ParkRun to be positive, welcoming and inclusive, there is no time limit and no one finishes last. Everyone is welcome to come along.

More Info HERE

Comedy Night – Jon Dore- Sunday, September 29th 2024 at 07:00 pm- Arts Place

Named one of “10 comics to watch” by Variety Magazine, Ottawa-born comedian, host and actor Jon Dore is renowned for his offbeat humour and unique bait-and-switch style. Winner of the 2023 Juno Award for Best Comedy Album, Dore is a favourite on the comedy club and festival circuit in Canada and the United States, enjoying sold-out runs at the Just For Laughs Festivals in Montreal, Toronto & Vancouver, as well as festivals in Halifax, Winnipeg, Portland, and the Bonnaroo Music and Arts Festival.

More Info HERE

Salsa Social Dance Class – October 4th – 8pm-11:30pm-Arts Place

Simmering Salsa, Beautiful Bachata! Come out to the Bow Valley’s favorite Latin Dance Party! Join the dance class at 8pm for some fun tips and to meet new partners. Afterwards we will party with a DJ, social dancing and snacks! Everyone is welcome, from beginners to experts and everything in between. No experience or partner required. Tickets are $15 in advance, $18 at the door.

More Info HERE

Thinking about buying or selling in Canmore – Check out some market stats on our monthly Newsletter

SOLD- 22, 1119 Railway Avenue

Posted on by Katie OSullivan

We are thrilled to announce that 22, 1119 Railway Avenue has sold. Congratulations to all the parties involved in the transaction. Enjoy this property which is the epitome of town center living in Canmore. This 860 sq ft two bedroom well maintained unit pulls you from the entry upstairs to the main living space. With an open floor plan featuring a living room with corner wood burning fireplace, kitchen and dining that opens to the large 100+ sq ft view deck. Also on this level is a substantial storage room. The top floor has two bedrooms and a four piece bath. Other features include covered parking and additional outside storage and thermostats on each level. Do not miss the shared fire pit in the common space of the complex. Take advantage of this rare opportunity to be steps away from the Canmore river/creek trail system. Lastly, note that the Condo association has replaced all the windows and exterior doors which will help to keep the condominium fees lower into the future. Residentially Zoned, not zoned for short term rental.

More listing info HERE

SOLD- 603, 3000J Stewart Creek Drive

Posted on by Katie OSullivan

This gorgeous property has sold. Congratulations to everyone involved in this sale.
A great combination of mountain views, abundant light and a peaceful location make this immaculate 2+ bedroom, 2 and a half bath townhome a wonderful choice. You will have plenty of room for your family and visiting guests with 2,177 square feet of living space plus 4 balcony’s to take in the mountain views. The main floor features kitchen, dining area + living room plus a powder room and view deck. The top floor boasts the primary bedroom with large ensuite, walk in closet, private office space and outdoor retreat with panoramic mountain vistas. The entry level has a large 2nd bedroom plus a family room or 3rd bedroom and a 3 pce bath. The lower level with inslab heat adds even more living space. The finishing is a great blend of contemporary and alpine finishes including wood floors, stone countertops and a large eating bar. Completing the home is an oversize heated single car private garage with extra parking in front along with an additional heated underground stall steps away.

More details on this sale HERE

SOLD-119 Benchlands Terrace

Posted on by Katie OSullivan

Congratulations to everyone involved in the sale of the beautiful property. Entering this 3,062 sq ft open plan 4 bedroom single family home you will be enthralled by the panoramic mountain peak vistas & immense valley views through the mammoth wall of windows, on both the main and upper level living spaces, confirming your belief that a location like this truly do exist. As you enter you are drawn up to the living room with vaulted ceilings and raked windows to take in those views and pull in the light. A view deck is steps away along with the open dining and kitchen that features a large walkin pantry and second wine storage space. Also on this level is the primary retreat with ensuite bath and walkin closet plus a second bedroom and full bath. The entry level includes a second large living space with more stunning views and light along with two more bedrooms, full bath with sauna, laundry room and generous storage all with toe warming inslab heat. A large single car garage with additional storage and a large yard complete this home up on the bench.

More info HERE.