The 2024 Golf Season has begun. Ready to hit the greens? Secure your spot on the course by booking your tee times in advance. Get set to experience priority access to one of Canada’s premier courses.
Did you know about the Silvertip Market?
Silvertip’s newest location for breakfast, specialty coffees, and a variety of made-to-order sandwiches, Italian-style pizzas, chef-curated salads, and ready-made meals. Offering Dine in and Take out options, you can now visit the Silvertip Market for a quick bite or shop for high-quality meats, farm-fresh eggs, quality produce, premium wines and specialty retail items all in one convenient location!
Mountain Tranquility Update
We are thrilled share the news that the road for Mountain Tranquility is aiming to be completed by mid June. Nestled on the sun-kissed slopes of Bow Valley, Silvertip Resort stands as an oasis of tranquility amidst the breathtaking Rocky Mountains. Just moments from Banff National Park and a short drive from Calgary International Airport, this idyllic escape offers unparalleled accessibility without compromising on serenity. With commanding vistas of Canmore’s charming town below and over 600 acres of pristine wilderness to explore, Silvertip beckons with year-round allure. Whether teeing off on its renowned golf course, traversing scenic trails, or simply soaking in the natural splendor, every moment at Silvertip promises rejuvenation and adventure. Don’t miss your chance to claim your slice of this coveted retreat; limited lots are available.
The Villas at Silvertip by Rockwood Custom Homes
Rockwood Custom Homes is excited to be bringing their exceptional build quality and expertise to Mountain Tranquility Place with The Villas at Silvertip by Rockwood Custom Homes. This 24 lot exclusive development of remarkable luxury living is an opportunity never seen before in the Canmore market. The Villas will feature The Three Sisters bungalows and The Peaks two‑storeys. Ranging from 2,900 to 3,800 square feet, respectively, of incredible luxury living. With striking mountain-modern architecture and only the best-in-class finishing and interior design, the Villas are perfect for your mountain getaway or permanent residence in the heart of the Canadian Rockies.
With ground breaking coming in Spring 2024 the opportunity is now to take advantage of this rare opportunity. With 4 sales and 4 Reservations do not delay in getting your choice of location and build style. Working with Rockwood’s experienced interior design team, you will customize your residence to showcase your individual style and taste.
Three Sisters Bungalows
Featuring roughly 2,900 square feet of luxury living, Rockwood is offering three unique exteriors of Faith, Charity and Hope. Each of these stunning front walkout bungalows offer iconic mountain‑modern architecture and incredibly designed interiors. Owners will enjoy three bedrooms including a spacious primary retreat, an expansive kitchen with butler’s pantry, rear-covered deck, front deck, walkout patio, and attached garage; plus high-end appliances, extensive custom-designed millwork and beautiful fixturing throughout.
Offering a strong sense of architectural tradition, Rockwood is offering two unique exteriors of Lady Macdonald and Grotto. Each of these alpine-inspired residences will offer best-in-class design and craftsmanship for an unparalleled living experience. Owners will enjoy roughly 3,800 square feet of luxury living including a private primary retreat, three junior-primary suites, an expansive kitchen with butler’s pantry, large lower-level flex and media space, spacious exterior patio, and attached garage; plus high-end appliances, extensive custom-designed millwork and beautiful fixturing throughout.
Working with Rockwood’s experienced interior design team, you will customize your residence to showcase your individual style and taste.
Mountain Tranquility Place- Stonecreek Resorts
Nestled within the exclusive Silvertip Resort, Mountain Tranquility offers a lifestyle like no other. It’s your opportunity to own the most diverse mountain wilderness experience surrounded by everything that the Silvertip Resort has to offer. Imagine endless opportunities to create lasting memories, all from the comfort of your own home. With only a few homesites remaining, Mountain Tranquility stands as a testament to luxury and exclusivity. It’s not just about owning land; it’s about embracing a lifestyle that’s unparalleled.
We are delighted to announce the sale of this home. Congratulations to all parties involved.
This three bedroom, two and a half bath 1,686 sq ft home is the best of both worlds from the advantages of a detached home along with the benefit of no outdoor maintenance. With recent work and original upgrades this home must be seen. The main level with an abundance of windows features a large open kitchen, living and dining rooms with access to two outdoor decks. The kitchen has stainless steel appliance and eating bar while the living room has a corner fireplace. A powder room completes this level. The second level features an open study/loft area, the primary bedroom with walk in closet, second bedroom and an upgraded three piece bath. The lower level with toe warming inslab heat features a family room, another bedroom, upgraded three piece bath plus laundry and storage. Other features of this home include a nice large entry, single car garage plus an additional parking space and on demand hot water. A terrific location, this home is steps from trails and the park.
The beginning of a new year is always exciting. We both want to wish you a healthy, happy and prosperous 2024! This newsletter is always exciting for us as it is a little more detailed and reflective as we look at where the Canmore real estate market has gone over the past twelve months and how that compares to previous years while also stepping back and looking towards the future of 2024.
The year of 2023 started with the second lowest inventory at the beginning of January. This continued to challenge the buyers in the marketplace with lack of options. Comparing to 2022, the inventory averaged out at the lowest of any year to date. This is important to note as when buyers do not have options in a recreationally driven market they tend to wait. The average listing inventory over the year was 111 which was 5% below 2022 and a startling 41% below the 10 year average.
Last year we predicted that the sales for 2023 would land between the 5 year pre-covid 2014-2019 average of 518 properties sold and the 2009-2019 sales volume of 455. Total sales for 2023 fell at 516 at the high end of that prediction but that also included a significant number of new construction hotel condo short term rental units. Looking at 2024 we would expect to see sales numbers between 400 and 450 unless the listing inventory increases which could pull the Canmore market sales to be at close to or above 500 sales.
For pricing year over year, we look at both the average and median prices broken up by market segment into Single Family Homes, Townhome Condos, Apartment Condos and Hotel Condos. I will break the average sale prices of each segment down below.
For Single Family Homes the average increase in the sale prices year over year for the past 10 years was 8.9% with one year having a 7.57% loss and all other years having gains between 0.24% and 38.8%.
For Townhome Condos the average increase in the sale prices year over year for the past 10 years was 7.1% with all years being an increase ranging .9% increase to 29.8% increase year over year.
For Apartment Condos, like Townhome Condos the year over year average sale prices increased each of the last 10 years. The average was 7.1% with a range from 1.6% to 12.7% year over year.
Lastly, for Hotel Condos we had a year over year increase in average price that ranged from 8.2% to 37.9% with the average being 17.0%. One note on this segment of the market the two previous years to this data set we saw dramatic decreases in average prices.
We get asked all the time about interest rates and how they affect our market. This past year we saw many buyers miss out on the market as they expected a dip in prices that never came. We find interest rate changes like we have seen over the past year does not have a dramatic affect on the recreational purchaser however we do see the affect in the entry level of our market limiting the ability for some buyers to get in. Now saying that we currently only have 5 properties for sale in Canmore under $650,000 with two of them being conditionally sold.
We do see a lot of media attention talking about the markets slowing down and prices adjusting however Alberta and the Calgary area are widely still expected to stay strong moving into and through 2024. The 2024 Royal LePage Market Survey Forecast has Calgary seeing a 8% increase in prices through 2024. In Canmore we are expecting to see price increases to be smaller and more balanced with a hopeful increase in listing inventory for buyers to choose from.
As always, if you are wondering about the value of your home, please let us know we are happy to update you on the current market!
We are thrilled to announce the sale of 7 Larch Crescent. Thank you to everyone who made this sale possible.
A rare find in quiet Larch, this four plus bedroom 2,006 sq ft home is a true Canmore oasis backing on to the Bow River trail system on a 6,000 sq ft lot. As you step in you are drawn up to the main level that includes an open living room, dining room and kitchen all with vaulted ceilings and hickory plank flooring. The kitchen enjoys upgraded stainless steel appliances, eating bar and lots of storage. Just off the dining room is access to the large deck and huge backyard with a perfect firepit for family and friends to gather around. Completing this level is the primary bedroom, two additional bedrooms and upgraded four piece bath. The lower level with large windows features a family room, bedroom, three piece bath, laundry, gear room and two flex rooms that could be used at your discretion for a home office, sauna, or whatever suites your family. Enjoy the mountain views in and out and treed tranquility of this stunning serene location walking distance to town.
Running December 1 -31, the Rotary Festival of Trees is a community-based holiday celebration with decorated trees, wreaths and special events and activities for the entire family. It is free to view and walk through the forest of trees. Funds raised from the Rotary Festival of Trees will be contributed to The Rotary Club of Canmore’s numerous programs and services which benefit so many within our community and internationally. Read more HERE.
New Year’s Eve Oscars Red Carpet- The Malcolm Hotel
December 31st, 2023- 5pm
New Year’s Eve Oscars Red Carpet Join us on Sunday, December 31st, 2023, to ring in the new year in true Hollywood style. Full Price list and details of the event HERE.
Canmore New Years Eve Events
Ring it in at the rink– Canmore recreation center from 5pm-8pm.free all-ages evening of fun featuring fireside musical performances with local musicians, a DJ dance party, ice skating, crafts, photobooths, and food vendors. The evening will conclude with a pyrotechnics show at 8 p.m. with viewing from the field outside of the Canmore Recreation Centre.
Midnight Fireworks-Count down to midnight with us at Millennium Park and say hello to 2024 with an exciting fireworks display. If you plan to make your way over to view the fireworks from Millennium Park, please note that the parking lot is closed to vehicle access beginning on Dec. 30 and will not re-open to vehicle access until Jan. 1, 2024. We encourage all residents to walk or to take Roam public transit to access the downtown on New Year’s Eve.
Banff New Years Eve Events
Celebrate in the park-Featuring live music from local and regional artists, such as local favorites Charlie B & Swanee, and headliners The Steadies, a high-energy, four-piece Canadian power band that are sure to get you moving! Join us for Indigenous dance performances and a tipi display, the Lil Toot train for toddlers, winter activities, and, of course, hot chocolate and fire-roasted marshmallows.
Midnight Pyrotechnics-Count down the last minutes of 2023 and celebrate the arrival of 2023 with low altitude, low noise pyrotechnics. These are family-friendly events so please leave alcohol and cannabis at home.
The 2023 RLP Solution’s Food Drive
We would like to extend a heart felt thank you to everyone who donated, supported and volunteered for the food drive this year. Thus far we have raised an astonishing 11,000lbs of food for the Bow Valley Food Bank. We will continue to accept donations at our offices until the new year. We aim to beat last years donations of 12,000lbs.
CLICK HERE to learn more about about the food drive and donate to the Bow Valley Food Bank.
2023 has been another year to be very thankful for!
Happy Holidays!
2023 was a year filled with so many blessings! Drew and I, with Katie’s fabulous help continue to help a great amount of buyers and sellers here in our mountain paradise. 2023 although down in sales volume from our market record breaking 2021 was still in the top 5 for sales volume. We are so very thankful to all our clients who continue to put their trust in us! We expect 2024 to be another good year even with a few parts of the market being affected with higher interest rates, noting that most of our market is not interest rate sensitive.
Reflections from Brad!
I continue to get out and enjoy our mountains with almost enough skiing, (never seems to be quite enough) , I enjoyed many days last year at Lake Louise with friends and a few with Joanna who was nursing her back which seems to be coming along well. I had a hi-lite of the Winter with a roommate from many years ago who lives in Golden, I worked hard to keep up to her on a 25 cm powder day from 9-4pm (I rarely ski that long) I was exhausted but what a day!
Not as much mtn biking or road biking this year, I pulled or tore something in my left shoulder which has left me working hard to get it back into full working order, stay tuned, not quite there yet.
We had a big holiday set up for Jo’s birthday in late May and the 1st 2 weeks of June.Jo and I landed in Istanbul for 3 days of exploring and time changing, we saw all the sights, the spice market, Grand Bazaar, we even had a food tour. We then went to join 10 of our friends for a week in Crete to celebrate Jo’s birthday. We had a 4 bedroom and a 2 bedroom with a shared court yard which was perfect for the 7 course birthday dinner feast I organized with a local chef that we had outdoors under the stars on the courtyard. The dinner was amazing and I even felt that we had maybe a little too much food which is hard to believe. All 12 of us loved Crete! The food was so unbelievably great and inexpensive, friendly people, easy to get around once there, nice weather and who knew that they have such big mountains, would love to go back and do some biking. We chartered a yacht for a day and went to explore some of the surrounding islands and beaches, that was fabulous as well.
Jo and I went back to Turkey for what was to be another 12 days but you will have to ask me about my passport issue and it only having 5.5 months left where they denied me reentry into Turkey. The upside to ending our trip early was that between us booking this trip for Jo’s bday and us leaving was that Cal obtained an internship in Calgary that was starting at the beginning of June. If our trip would have continued in Turkey I would have missed out on the opportunity to spend all of June outside of work with Cal while he was in Calgary so that was a big upside I am very thankful for. It was great having Cal back out west again after much of the previous 4 years back east. Cal’s internship was part of his program that allowed him to graduate from The College and Sports Media in Toronto. He was with Sportsnet The Fan 960 radio in Calgary for the 2 months for his internship and then onto Sportsnet The Fan 590 in Toronto until late November. Cal was loving all he was learning and the people he was meeting with Sportsnet and then a TV job opportunity became available in a small market in Alberta , he applied and got the job and started Dec 4th. Cal is the weather / news / sports anchor plus will have an opportunity to do the colour and play by play for the local hockey team in the new year. His passion is more to be in front of a camera and this is a great opportunity to hone his talents and get a lot of practice. I am very excited that we will be able to meet up more being a lot closer than Toronto.
Lauren is loving her coworkers and her job that is in a department of the federal government. Lauren helped coordinate a conference in France last Spring and loved the travel and went to London to visit some friends after France. Lauren is still able to work remotely and came to the Lake for several weeks. It was fabulous having her nearby for meals and adventures when she was not working. Lauren also was able to get a puppy this summer and Cash is wonderful, high energy for sure which is a puppy’s job. Cash is a lot of fun and so very cute. Lauren will be here for Christmas and for part of ski season and will work from home while she is here, I am very excited to have them both here!
Jo’s has had an extremely busy work year and she is very thankful for her clients support as well. Jo has been volunteering with the Calgary Stampede Board helping mentor young ladies, and of course they love her too, no surprise there! We had a trip planned to Japan for the 1st 2 weeks of Feb 2024 that we seemed to be holding back on booking for some reason which is not like us, we have recently decided to shelve that trip for a year or 2.
I have been out skate and classic skiing several times and actually bought some new classic skis and boots which I am loving! I am still getting to the gym 5 – 6 times a week but I need to pick my attendance at Yoga as I only seem to get there once or twice a week. I have some ski buddies coming for a couple of days in early March and I hope to do a tour in BC to see my skier friends at various resorts. My new passion is wake foiling which I picked up in August when I got back to Alberta and expectthat to be woven into my other non winter activities for a long time, I love the peace and tranquility of carving through the water but I still have so much to learn. I am having fun trying a new sport.
Happy holidays to everyone and all the best in health, happiness, love and prosperity in 2024 and beyond! Brad xo
Reflections From Drew!
Wow, another wonderful year in the beautiful Bow Valley. It is amazing how quickly the year has passed. Last year was exciting as it started with Brad and I having the opportunity to host skiers/snowboarders and a group that snowshoed from across Canada to show them the beauty we get to live in. It is always great to see the reactions and excitement of the people that visit Canmore and Banff.
The food drive was another great success, thank you for all of you that helped out whether it was by helping to collect the food (we go door to door throughout Canmore) sort the food or through a food/monetary donation. If you were not in the Christmas spirit before the food bank drive, you sure are from that moment forward.
Asher has enjoyed 2023 as he moved from grade 10 into grade 11. In the spring he played soccer again for his high school team (Canmore Collegiate High School). In the fall he was back on the field to play another year of football, I am not sure what he enjoys more but both are definite passions. When not doing schoolwork, soccer or football Asher is often found at the gym or better yet on the ski hill. He continues to work part time which will help as he just passed his drivers test…. Make sure you look both ways out there 😉
Hannah had a great season of competitive cheerleading heading back to Florida in the spring to compete at the World Championship. It was exciting to see Hannah over the last year start to transition to coaching teams and she is a natural. Hannah also entered Mount Royal University and is excelling; she will make an amazing teacher!
Brendan is now in his third year of biomedical engineering at the University of Calgary. His work ethic and long days/nights are helping him not only survive but thrive. He was invited to present at a Biomedical Conference in Banff in October and is excited to see what this next year will bring with an opportunity to start a Co-op in May.
My folks are doing very well, and it was nice to get out with them this past weekend to see the lights at Spruce Meadows.
We were able to travel more this year. It was great to go with Cheryl down to Florida to support Hannah. We truly were there to enjoy watching Hannah but felt different as Hannah runs the show herself. After the competition Cheryl and Hannah got to spend some mother daughter time swimming with Manatees and enjoying the Clearwater area of Florida.
My brother and I have been trying to plan a golf trip to Ireland for the last 10 years and we finally went in June. It was such a great trip and my first time there. While the golf had its ups and downs, Ireland was stunning and I will find my way back there soon I hope, the next time with Cheryl.
A long time in the planning was our summer holiday down to Florida and the Caribbean on a cruise to celebrate graduation of all three kids. Brendan’s was a couple of years late; Hannah was on time and Asher was a couple of years early. Cheryl and I fully understand that as the kids get older times like these will be harder and harder to come by so this was a very special time for the five of us.
In November, Asher and I were able to get away for a university tour out east. It is hard to imagine having all three kids at university in a couple of years.
As I look back on the entire year, it was also with a lot of fun activity be it trail runs, bike rides, golf and just most of all fantastic family time. I hope this finds you and your loved ones healthy and happy, and my family and I wish you great health and happiness in 2023.
We are delighted to announce the sale of 133, 13 Aspen Glen. Congratulations to everyone involved in this transaction.
The stunning mountain views in all directions will have you awestruck. At 2,767sqft and a large renovation just a few years ago you will love being able to move in and enjoy. As you enter this home you are pulled up to the high cathedral ceiling in the large living room with a mammoth wall of south facing windows. With multiple outdoor spaces and windows on 3 sides, you have views everywhere you look. Up a few steps is the dining room along with the modern and bright kitchen that enjoys waterfall stone countertops, lots of storage and top of the line appliances. Upstairs has the large primary bedroom with more views and vaulted ceilings, renovated 5 pce ensuite, 2nd bedroom, 3 pce ensuite, laundry and office area. The lower walkout level has a large family room with even more south facing windows, space for another office plus an area that could also be another bedroom and a renovated 3 pce bath all with in slab heat. Lastly is the heated double car garage and loads of storage.
We are delighted to announce the sale of 303, 150 Stonecreek Road, Canmore. Congratulations to all that were involved in this sale.
Enjoy this top of the world premiere penthouse in Pinnacle, the highest elevation of any building in Canmore. This well designed 2,837 sqft single floor home has truly unmatched views inside and out and features a south facing primary balcony & a 2nd balcony accessed by both primary retreats. In the kitchen with stone countertops & walk in pantry, the chef in the family may find it hard to concentrate with the views of Three Sisters each time they look up. These views continue though the dining & living room with a feature gas fireplace. The first primary retreat features a corner gas fireplace, sitting area, walk-in closet & spa-inspired ensuite. The second primary retreat also has a walk-in closet & spa-inspired ensuite. Completing this beautiful plan are 2 more bedrooms or offices with access privilege between them, a three piece bath, large laundry room & a grand entry with a library. Other features include two heated underground parking stalls & a massive storage unit.
We are delighted to announce the sale of 4, 124 Silvertip Ridge, Canmore. Congratulations to all that were involved in this sale.
You will be amazed by the superb light & stunning mountain views in this 2,348 sq ft 4 bedroom + family room, 3 bath open plan townhome that is perfect for your mountain retreat or full time home! The main level boasts many opportunities to enjoy the light & views from the dining area through to the large living room with its wall of windows and of course the stunning south facing view deck with extra on deck storage. A large kitchen that boasts a raised eating bar, granite countertops & stainless appliances, a wine bar plus access to a BBQ deck which is also great for your morning coffee. The master retreat upstairs has views to wake up to that most people just dream about along with a walk in closet and 5 piece ensuite bath. Completing this Silvertip Sanctuary are 3 more bedrooms, family room or office and abundant storage throughout including the large laundry/storage room. Other features include a heated double car garage and toe warming inslab heat in the lower level.
November Brings the 31st Annual RLP Food Drive and a Feeling of Déjà vu
31ST Annual RLP Food Drive
As we move through the fall season, we are excited for what all that it brings. The 31st Annual RLP Food Drive is taking place on November 29th at Canmore Chrysler. It is such a great event and so needed in our community. As the ski hills are starting to open it is great to see the Bow Valley getting excited for the upcoming winter season. you can feel the excitement building. You can feel the excitement building, people walking around town with their skis / boards to get tuned following epic adventure movie watching at the recently ended Banff Mountain Film Festival.
Déjà Vu
Looking back to our newsletter in November of 2022 we feel a good dose of déjà vu. Quotes from last year of “Our market is one that many are struggling to understand. While it has felt for many like the market has taken a step back and with many price reductions, we can see how it could be viewed that way.”
Current Market
As we look at our market, we see the listing inventory this time of year quite consistent. There are small increases each year over the past three years with total listings being 131, 138, 144. What is dramatic is the listing inventories in November for the 3 years prior to Covid was 189, 196 and 228. The average number of listings in November over the last 10 years is 192 which makes 2023 25% below that.
Listing inventory is just one of many metrics we use. When we look at sales numbers for the month of October in the 5 years prior to the pandemic we get an average of 49. That is 40% higher than this year. During those years we started the month of October with an average of 231 listings giving buyers 70% more properties to choose from. The reason this is so important to consider is that the lack of inventory in a recreational market often causes buyers to be more patient and hence wait for the right property at the right price.
As mentioned above and below, we are proud to announce once again, that our 31st annual Royal LePage Food Bank Drive will be on Wednesday November 29th. This is our biggest ask of the year, as we always need help on the evening for a few hours. We are happy to pick up any donations both nonperishable food and/or a monetary donation. Please follow the link below if you can help out in any way.
