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Canmore Real Estate Monthly Housing Statistics February 2023

When sales drop by one-third month to month and half year to date, it impacts the validity of the sales prices, a sample is very small. 

GREAT NEWS: Canada's housing market correction is bypassing Alberta. Prices in Calgary are going slightly up, and the same for Canmore. No wonder: Interest in ski properties is increasing. Canmore is second to Whistler, where prices are close to double of prices in Canmore. Canmore single-family prices stand at 1.3 to 1.6M (reports differ because we already have townhomes in this price group), whereas the average for ski areas in Canada is $1,042,700.

Inventory is up; sales are down. Overpriced properties are sitting ducks in all segments. Sellers are waiting for better prices; investors are hesitant to sell and have cash (a stock market is a precarious option for them). Buyers are hoping for a recession (price drop), and interest rates are having a measurable impact in the lower price segment, skewing our average price statistics. Locals are now with new stress test rules out of the entry market.

Data is supplied by Pillar 9™ MLS® System. Pillar 9™ is the owner of the copyright in its MLS®System. Data is deemed reliable but is not guaranteed accurate by Pillar 9™.
The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.