Canmore’s Million Dollar Market

Canmore’s Million Dollar Market

Setting the Stage

It likely (hopefully) isn’t a shock to someone reading these blogs, that Canmore real estate is not your average real estate. We’ve got it all. Remember that famous saying, “location, location, location”. Well, we’ve got that in spades.

Don’t forget, Canmore was the host community for the 1988 Winter Olympic Nordic events, with many arguing, that little event put us on the map.

Canmore’s also surrounded by protected spaces. Banff National Park directly to the west and Bow Valley Wildland Provincial Park immediately surrounding the community. So there really is only so much dirt available to build on and develop with. This brings us to Canmore’s Million Dollar Market.

What’s a Million Dollars?

While a side from the obvious answer of a six zeros, increasingly, it’s the cost of real estate in Canmore. Here’s a look at the volume of sales, by price, of over a million dollars going back to 2019. Our market, our destination as a resort community, and the allure of the lifestyle here in the Canadian Rockies, well that’s clearly not dampening or cooling down.

The Breakdown

Here are the stats about sales over $1M comparing 2019, 2020 and 2021:

2019 we had 86 sales over $1M

  • 77 sales $1M to $2M
  • 7 sales $2M to $3M
  • 2 sales $3M Plus

2020 we had 109 sales over $1M

  • 98 sales $1M to $2M
  • 8 sales $2M to $3M
  • 3 sales $3M plus

2021 we had 193 sales over $1M

  • 165 sales $1M to $2M
  • 20 sales $2M to $3M
  • 8 sales $3M Plus

So we had a 44% increase in sales over $1M from 2020 to 2021.  Sales over $3M we’re up 63% year over year. 

Sales between $2M and $3M were up 60% and sales between $1M and $2M were up 40%.

Thinking Canmore real estate? It’s never too late to have a conversation.

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.