Canmore Real Estate Market

The Canmore real estate market is small, expensive and easy to misread. A dozen detached sales can move the monthly average by a few hundred thousand dollars, portals and the local board count different things, and most of the numbers you will find online carry no date. This page is the fixed reference point: Canmore house prices by property type, sales volume from 2024 to 2026, inventory, days on market and what actually drives the market, each figure dated and sourced, with links to the monthly reports.

Median sold price, all types

$1,084,950

July 2026 · Wahi (46 sales)

Average sold price, all types

≈ $1.4M

July 2026 · Zolo · +34% vs Jul 2025, skewed by large sales

Average detached home

$2.15M

2025 full year · canmorealberta.com · +8%

Average apartment condo

$814K

2025 full year · canmorealberta.com · +8%

Average townhouse

$1.15M

2025 full year · canmorealberta.com · +8%

Residential sales, 2025

483

vs 504 in 2024 (−4%) · canmorealberta.com

Active listings

≈ 133–160

August 2026 · Wahi (133) / REW & Realtor.ca (≈160)

Days on market

68

July 2026 · Wahi · all property types

Non-full-time owners

26%

of Canmore properties · 2021 Census via CBC

Canmore real estate market: house prices by property type

Canmore has five distinct price ladders, and the gap between them is larger than in most Canadian towns. The table below uses full-year 2025 averages from the local year-in-review (which draws on board data) alongside the July 2026 medians a portal computes from the same sales feed.

Two things stand out. First, a half-duplex in Canmore costs almost as much as a detached house, because most were built recently in Three Sisters, Spring Creek and South Canmore on the same lots a house would occupy. Second, tourist homes and hotel condos are priced by rental income rather than by size, so a 900 sq ft tourist home on Bow Valley Trail can cost more than a larger residential condo two streets away. The homes for sale and condos for sale pages break each ladder down by neighbourhood.

Canmore average house price: why the number keeps changing

The honest answer to "what is the average house price in Canmore" is that it depends on which month, which measure and which property types are in the basket. Zolo’s all-types average hit about $1.4M in July 2026, up 34% year over year. The same month’s median on Wahi was $1,084,950. Neither is wrong; the average was pulled up by a few multi-million-dollar sales in a month with only 46 transactions.

For budgeting, use medians by property type, and use full-year figures rather than a single month. The median detached sale in 2024 was $1.67M (CBC); the 2025 detached average of $2.15M sits above it because the average includes the $5M-plus estate homes in Silvertip and South Canmore. If you are shopping under $1.5M you are in the condo, townhome and older-detached market, and those segments moved a fairly steady 8% in 2025.

Sales volume: 2024 to 2026

Volume has been easing while prices rose, the pattern the local year-in-review called "a return to balance". Canmore recorded 504 residential sales in 2024 and 483 in 2025, a 4% drop and the second consecutive year of lower volume (canmorealberta.com). By segment, 2025 detached sales fell 7%, townhomes 4% and apartments 11%; tourist-home sales fell 36% after the March 2025 bylaw change froze the stock, while hotel-condo sales rose 21% on new-development completions.

Early 2026 started slowly and then recovered: 20 sales in January and 32 in February (local brokerage reporting, cited in our fact sheet), with the spring market bringing inventory back. By July 2026 Wahi counted 46 sales, up from 41 in July 2025. On current run-rate the year should land somewhere near 2025’s total, not a boom, not a bust.

Inventory and days on market

Inventory is the number in the Canmore housing market that has changed most. Average active listings in 2025 were about 129, which the year-in-review noted was roughly a quarter of the 2010 level. Through 2026 the count has rebuilt: Wahi shows 133 active listings for July 2026 (down from 159 in July 2025 on its basket), while REW and Realtor.ca show about 160 homes for sale in August 2026, roughly 33 houses, 59 condos and 61 townhomes. Wahi puts this at about three months of inventory, which by the usual rule of thumb is the low end of balanced.

Days on market averaged 68 in July 2026 across all types (Wahi): about 49 days for townhomes, 66 for detached and 85 for condos. The median sale closed just under $10,000 below asking. Zolo puts Canmore’s selling-to-listing price ratio at 97.8% on its Canmore trends page (accessed August 2026), which is consistent with a market where sellers hold their price and buyers win small concessions rather than big discounts.

What drives Canmore prices

Four structural facts explain most of the price level, and none of them is going away soon.

• Land. Canmore sits in a narrow valley between a national park and provincial land. The town cannot sprawl; the only large developable land is Three Sisters Mountain Village, which is why its approval mattered so much.
• Second-home demand. About 26% of Canmore properties are owned by people who do not live there full-time (2021 Census via CBC). Much of that money is Calgary equity that is not sensitive to local wages or rental yields.
• Banff’s need-to-reside rule. Only eligible residents may live in a Banff home, and leaseholds cannot be used as second homes, so Banff demand flows 20 minutes east. The Banff property page explains the rule.
• Tourism income. Tourist-home zoning lets some properties earn nightly-rental revenue, which supports prices in that segment, and since March 2025 no new properties can get that zoning.

Policy pushes the other way. The Livability Tax adds roughly 0.377% of assessed value a year to non-Albertan second homes from 2026. The federal foreign-buyer ban runs to 1 January 2027 with no extension tabled as of July 2026 (BLG). And the Bank of Canada’s policy rate has sat at 2.25% since its cuts through 2025, held again on 15 July 2026, cheaper money than 2023 but not the near-zero rates that fuelled 2021.

How to read the monthly reports

Every monthly report on this site separates two kinds of data, and About Canmore Properties sets out who writes them and how each figure is sourced. Board data comes from the MLS® System through a local REALTOR®: actual sold prices, sold-to-list ratios and days on market for closed transactions. Portal estimates come from Zolo, Wahi, HouseSigma and HonestDoor, which compute medians and averages from listing feeds and sometimes from modelled values; they are useful for direction, less so for the last $50,000.

When you read a report, check four things: the sample size for the segment you care about; whether the figure is an average or a median; the period (a rolling three months smooths Canmore’s small sample); and whether tourist homes and hotel condos are included in "condos", because they usually push the number up. Our August 2026 report follows that format, and the sold prices page explains how to get real comparables.

Monthly reports, forecast and buyer tools

• Canmore real estate market update, August 2026: the current month in detail, with what it means for fall buyers.
• Canmore home sales and sold prices: how sold data works in Alberta and how to request comparables.
• Canmore real estate forecast 2026–2027: supply, demand, rates and policy as scenarios rather than predictions.
• Buyer cost calculator: mortgage, property tax, Livability Tax, condo fees and closing costs on one screen.
• Canmore vs Calgary: what the same budget buys in each market.
• Property tax calculator: residential, tourist-home and non-primary-residence rates.

What this means if you’re buying

Price in the Canmore real estate market is set by property type and neighbourhood far more than by the month you buy. Decide the ladder you are on: condo, townhome, detached, tourist home, then compare against full-year medians for that ladder, not the all-types headline. With inventory near 130–160 listings and homes averaging 68 days on market, you have time to be conditional on financing, inspection and condo documents, and to negotiate on listings that have sat, read the August 2026 report for the current month, run your numbers through the buyer cost calculator, and ask for comparable sales before you write an offer.