Canmore continues to go nuts and is in serious need of supply, but the type of supply continues to be visitor accommodation and less for actual residents thereby exacerbating a lot of the issues.
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Month over month, active standing inventory is up to 89 properties listed between Harvie Heights and Exshaw. There are 50 residential properties and 39 short term rental properties listed; last March, there were 113 residential properties listed. With the decline of active standing inventory, multiple offers and sales over asking are the norm. In February detached and semi-detached homes sold on average 5.2% over asking price and the average days on market fell to 20 days. Detached and semi-detached home sales fell year over year by 75% as a direct result of the 70% year over year decline in active listings. Year over year, the three month average sale price for townhouses has increased 33% to $954,000. Apartment condominium properties three month average sale price increased 13% year over year to $663,334. Tourist home and visitor accommodation units that have a short term rental use, prices have increased 49% on the three month average to $665,932. Detached and semi-detached median home price increased to 35% to $1,411,500 over the past three months.
https://www.canmorebanffrealestate.c...rce=activepipe