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Canmore, Alberta is popular due to its stunning natural beauty, proximity to Banff National Park & year-round outdoor activities. Located in the Canadian Rockies, it offers easy access to hiking, skiing, mountain biking & climbing, making it a haven for adventure seekers. Unlike Banff, it’s less commercialised, giving visitors a more relaxed, authentic mountain town vibe. Plus, its growing arts & food scene adds to the charm. Here is a Canmore Overview.
To make an informed decision, consider the following key factors:
1. Historical Growth & Tourism Impact:
History: Canmore transitioned from a coal mining town to a vibrant mountain resort community, attracting both residents and tourists.
Tourism: As a year-round destination, Canmore's tourism significantly impacts the local economy and housing market. In 2023, there were 4.7 million visitors to Kananaskis, a neighbouring area, indicating a strong tourism presence in the region.
2. Current Housing Market Trends:
Property Prices: As of February 2025, the average home price in Canmore is approximately $1,461,834, reflecting a 22.1% increase over the past quarter.
Market Dynamics: The market has experienced significant fluctuations over the past decade, with increases in property values in the last few years.
3. Future Housing Market Outlook:
Sustained Demand: Given Canmore's status as a premier tourist destination, demand for housing is expected to remain strong.
4. Short-Term Rental Opportunities:
Airbnb & short-term rentals are a significant part of Canmore's tourism economy, offering visitors a range of accommodations from cosy condos to luxurious mountain chalets. However, operating such rentals in Canmore comes with specific regulations & considerations.
Airbnb Market Overview (2023–2024)
Number of Listings: Approximately 2,110 active Airbnb listings as of September 2024.
Occupancy Rate: Median of 77%, indicating strong demand.
Average Daily Rate: CA$274.
Annual Revenue: Typical hosts earn around CA$72,000 per year.
5. Considerations When Buying a Home in Canmore:
Property Types: The market includes a mix of single-family homes, Townhouses & Apartment Condos, each with distinct pricing & availability.
Regulatory Environment: As a resort community, Canmore has specific regulations regarding property ownership, development, & usage. It's essential to understand the rules for compliance & suitability for your needs.
Lifestyle and Amenities: Living in Canmore offers unparalleled access to outdoor activities, cultural events & a close-knit community atmosphere.
For Expert Guidance in navigating the Canmore Real Estate Market, consider reaching out to Stewart J. Lowe, an award-winning realtor with over 23 years of experience. In 2010, he became a Certified Guild Member of The Institute for Luxury Home Marketing, recognised for his proven sales and exceptional client service. Stewart is known for his friendly, warm, and professional approach, ensuring a seamless real estate experience. Why not request a no-obligation Marketing Consultation
Clients also looked at Banff Luxury Homes | Banff Condos
CANMORE CONDOS | SEMI-DETACHED (HALF DUPLEX) HOMES
Canmore Land For Sale | Canmore Downsizing
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***As a Guild Member of The Institute for Luxury Home Marketing™ Team Leader Stewart J Lowe is part of an International Network of Real Estate Professionals who specialise in the Luxury Market. With the back-up of the Institute it makes sense for us to represent you, why not request a no obligation Marketing Consultation!
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Find out how much your current home is worth in today's market.