Canmore Real Estate Market Comparison

Last Quarter 2022 vs. First Quarter 2023

A Look at the First Quarter of 2023:

Let me start with a disclaimer: As Canmore is a small town with few sales and listings in general, the amount of data, even for the first three months of this year, is limited. Statistically, the larger my data pool the more reliable the results. The numbers here reflect a certain trend, but should be taken with a grain of salt.

I am comparing January to March of 2023 with October to December of 2022.

Sales numbers dropped from 92 sales to 88 sales. Apartments, half-duplex and tourist home zoned properties gained slightly, but hotel condos (properties that can be rented out short-term via Air B&B etc.), single family homes and townhouses lost in sales numbers.

The biggest drop was for single family homes. We only had 9 sales in the first quarter of this year as compared to 22 in the last quarter of last year.

So how about listings and how did prices develop?

The number...

Kananaskis Way is the Perfect Area for Those Looking for Hotel Condos, Airbnb Properties and Investment Condos

Located right off Highway 1, the Kananaskis Way area is easy to access by taking the second exit into Canmore. Once you are on Bow Valley Trail (off of the highway) it is a short drive until you see “Stoneridge”, a large hotel complex. This is one of the most distinguished complexes and a visual marker that you have arrived at this popular area in Canmore.

Four streets delineate this little piece of paradise for investors and condo owners: Lincoln Park, Bow Valley Trail, Kananaskis Way and Montane Road. With over 1,100 short-term rental units located in this area, this is Canmore’s hub for vacation rentals in Canmore. 

The majority are 2-bedroom apartment style properties featuring a full kitchen, bathroom and deck located within a hotel complex. Studios and 3-bedroom units are also available. Examples of these types of properties are “Stoneridge”,...

This blog was first published in CanmoreAlberta.com. Thank you for the feature!

Canmore, My Town: A Realtor's Homage to Canmore 

When I hitchhiked the USA and Canada as a teenager in the 1980's a dream was born. I would one day live in Canada. Thirty years later - I was married with two young kids and working in Shanghai, China - I was ready to make the move.

In 2011 while still working in China my wife and I came to Canada for 8 weeks with the sole purpose to find a place to call home.

Real Estate is one of the Hottest Topics in Canada These Days

Read the full blog for a 2022 Canmore real estate market review and a quick look at 2023

2021 was an incredible year in Real Estate with the markets running hot. After taking a deep plunge during the pandemic, the Canadian economy bounced back in 2021/2022 with strong growth and record-low unemployment.

This exuberance in the economy along with global pressures, led to arguably the most pressing economic issue of the year: decades-high inflation.

The Bank of Canada responded to rapidly rising prices with one of the fastest monetary policy tightening cycles in its history, setting the stage for a rockier year.

Since March 2022, the central bank has raised its key interest rate seven consecutive times, from 0.25 per cent to 4.25 per cent. That's the highest it's been since January 2008.

Canadians and businesses facing higher borrowing costs are expected to pull back on spending more noticeably in 2023. Economists expect that...

I must admit – the first time I ever walked into the Legion here in Canmore it was with very mixed feelings. I was born in Germany in 1964 and the war was long over by then. But Germany had started and lost both world wars.

I grew up with a lot of war guilt. History class hammered it in again and again.

Alongside Austria-Hungary, Germany had fought and lost a fierce battle in World War I from 1914 to 1918. A war that claimed 16 million casualties. Canadian troops fought alongside troops from Great Britain, France, Russia, Italy, Romania, Japan, and the United States against troops from Germany, Austria-Hungary, Bulgaria, and the Ottoman Empire.

In 1939, Germany started WWII with the invasion of Poland. The war lasted 6 years. It was the deadliest conflict in human history and resulted in over 80 million fatalities.

As a teenager my parents sent me for a year to a private school in South-West England. Every Saturday was movie time. I still remember those nights when war movies were...

Canmore’s challenged Real Estate Market in the Third Quarter of 2022

What you need to know to navigate the market right now!

A raging virus,  a war in Europe, rising inflation;  investors, politicians and decision makers worldwide are finding it more and more challenging to navigate our fast-changing worldwide economies. What is happening worldwide and nationwide also has a direct effect on every single person locally. We are all past, present or future homeowners and a real estate transaction can easily be the biggest transaction of our lives. More than ever, we need to know what’s happening in our local markets to make the right decisions. Decisions today are harder to make than in the past, but will have lasting consequences in future years.  

The Governor of the Bank of Canada, Mr. Tiff Macklem held a speech on October 6^th, 2022 before the Chamber of Commerce in Calgary. During his speech he stressed the necessity of another interest increase to slow down...

People from all over the world are moving to Canmore, Alberta.

Read more to find out why!

The secret is out on Canmore’s beauty, amazing lifestyle, and heavenly setting. Nestled in the mountains just one hour away from Calgary and right on the border of Banff National Park, this charming mountain town in Alberta has it all.

In summer, visitors come to spend time hiking the absolutely stunning mountain trails, but they soon discover that Canmore has so much more to offer! The curious adventurer will discover more sports, life music and arts. Canada Day, The Highland Games, The Canmore Folk Festival, Canmore Uncorked or Xterra Canmore Triathlon are just a few of the events which represent Canmore’s versatility.

Sport enthusiasts can’t get enough of living here once they discover the multiple activities available so close to their homes. Golf lovers can choose between three golf courses, kayakers and stand up paddleboarders can paddle down the Bow River or in the reservoir....