At first glance, the Canmore real estate market in 2025 seems to break one of the most basic rules of economics:
Sales are down — yet Prices keep rising.
In a typical market, lower sales numbers signal weaker demand, eventually leading to price corrections. But Canmore is not a typical market. To understand what really happened in 2025 — and what it means for buyers and sellers looking ahead to 2026 — we need to look beneath the surface.
Let’s break it down.
In 2025, Canmore recorded 483 property sales, down from 504 sales in 2024 — a decline of roughly 4%. If that sounds familiar, it should: 2024 already saw a similar 4% drop compared to 2023. This marks the second consecutive year of declining sales volume.
However, the reasons behind the decline shifted.
In 2024, lower sales were largely driven by a slowdown in Hotel Condo transactions. In 2025, the picture changed: sales declined across most property types — except Hotel Condos, which saw a notable rebound.
Sales change by property type (2025...