Stronger Summer Sales, Tighter inventory and Interest Rate Outlook
Canmore Market Update
The Canmore real estate market experienced noticeably stronger sales activity over the summer months. From June 1 through August 31, 2026, 142 properties sold, compared with 110 during the same period in 2025 and 115 in 2024.
Part of this year’s increase resulted from sales being reported in a new-construction apartment development, which accounted for eight of the 142 transactions. Even allowing for those sales, however, overall market activity since June has been considerably stronger than we experienced during the same period over the previous two years. Our team was very busy with residential and commercial.
Inventory Remains Tight
While sales have increased, the number of properties available for sale has remained remarkably consistent. At the beginning of September, there were 176 active listings in Canmore. Over the past six months, inventory has remained within a very narrow monthly range of approximately 169 to 178 listings.
For some historical perspective, this remains considerably below pre-COVID inventory levels. During the same period, Canmore had an average monthly active listing inventory of 241 in June / July / Aug 2019 and 192 in 2018. The combination of stronger sales activity and relatively constrained inventory in some market segments is something we will be watching closely as we move through the fall market.
September Buyer Activity Is Picking Up
We have also started to see the typical increase in buyer activity that often arrives in September. With summer holidays winding down, more buyers are once again turning their attention to their real estate plans and beginning—or resuming—their property searches.
The following graph shows the number of active listings at the beginning of each month by all companies within the Bow Valley.
The following graph shows the number of properties sold by the end of each month.
Average Sale Price
What Are Interest Rates Doing?
We continue to keep a close eye on the bond market, particularly as Canadian 5-year and 10-year bond yields have been moving higher during the early part of September. Bond yields are an important factor influencing fixed term mortgage rates, so we will be watching to see whether this recent movement results in upward pressure on fixed term borrowing costs.
If your mortgage is coming up for renewal, or you are considering a purchase and wondering what may happen with fixed mortgage rates or variable mortgage rates, please don’t hesitate to reach out. We are always happy to share what we are seeing in the market and discuss how current conditions may affect your real estate plans.
