Riverstone Canmore Homes for Sale
Riverstone Canmore homes for sale are a small pocket of detached houses at the east end of town, on Riverstone Road and Moraine Road beside the Elk Run business park, practical family housing, often with a legal suite.
- Sun exposure
- valley floor
- Short-term rentals
- residential only
- Property mix
- Newer detached homes
- Suits
- Families, New-build buyers
- Riverstone is two streets of detached homes at the east end of town, beside the Elk Run business park: 119 residential parcels in all (Town of Canmore assessment roll, February 2025).
- Legal suites are common here, which changes the mortgage math for a first detached home.
- Residential zoning: long-term rental and suites are fine, nightly rental is not.
- Trade-offs are the industrial neighbour and highway proximity; the upsides are the ball park, the dog park and a quick run to Calgary.
Riverstone Canmore homes for sale do not come up often, and when they do they are usually bought by people who already know why they want one: a detached house with a suite, a short drive from the highway. Riverstone is two streets at the east end of town beside the Elk Run business park. It is not a showpiece neighbourhood, and it is not trying to be.
Riverstone Canmore homes for sale: where the two streets sit
Riverstone sits at the east end of Canmore on the Cougar Creek and Elk Run side of the Trans-Canada Highway, reached off Grotto Road. The neighbourhood is essentially Riverstone Road and Moraine Road: a compact grid of detached homes with the light-industrial park alongside. Cougar Creek is a short way up the same side of the valley; Three Sisters is across the highway and the river to the south-west.
It feels like a workaday residential street, which is the point.
Who lives in Riverstone, and who buys the homes for sale
Local working families, tradespeople and business owners with a reason to be near Elk Run, and first-time detached buyers who need a suite to make the mortgage work.
Riverstone homes for sale: property types and prices
Riverstone is single-family detached on lots that are narrower than the original townsite. The Town's 2025 assessment roll puts every parcel on the two streets under subdivision plans registered in 1993 and 1994, so the homes are newer than Larch (1978 to 1979 plans) and the older townsite streets, and a number were built with legal secondary suites.
| Property type | What you will find | Pricing (qualitative) |
|---|---|---|
| Detached, no suite | Two-storey and bi-level family homes, attached garages | Mid-market for Canmore detached |
| Detached with legal suite | Lower-level one-bedroom suites with separate entrances | Upper-mid; lenders may count part of the suite income |
| Townhomes | None on the Town's assessment roll for either street as at February 2025 | Not applicable |
There were no active Riverstone listings on Zolo in August 2026, which is normal for a two-street neighbourhood. Ask for the last several sold prices and use the buyer cost calculator with and without suite income before you set a ceiling.
Legal suites: the Riverstone advantage
A legal suite is the reason many buyers put Riverstone on the list. Handled badly, it is an unpermitted basement that an insurer or the Town can shut down.
- 1Confirm the suite is legalAsk the seller for the development permit and final inspection. A ‘suite’ in a listing is not the same as a permitted secondary suite.
- 2Check the zoning letterDistricts differ lot to lot. The Town’s Land Use Bylaw and a zoning letter confirm whether a suite is permitted on that specific parcel.
- 3Run the financing both waysLenders vary on how much suite income they count. A licensed mortgage broker can tell you the difference it makes to your approval.
- 4Plan the tenancyNightly rental of the suite is not permitted; a long-term tenant is legal and keeps a non-Albertan owner clear of the Livability Tax.
Buyers see ‘suite’ and add rent to their budget. If the suite was never permitted, the lender may ignore the income, the insurer may decline the risk, and you may inherit the cost of bringing it to code. Verify before you value it.
Sun and winter
Riverstone is on the valley floor at the east end of town, on the north-east side, where the valley is wider. That gives it more midwinter light than the south-side neighbourhoods, although it is still flat ground rather than an elevated bench. Streets are level, which is welcome in January.
Short-term rental status
Riverstone is residential zoning. Nightly rental in Canmore is limited to Tourist Home and Visitor Accommodation properties, and residential districts here do not include either. Advertising the house or the suite as a vacation rental draws fines of $2,500 for a first offence and $5,000 after that. The tourist-home zoning guide explains the categories.
Trails, parks and schools nearby
- Elk Run Ball Park and the Elk Run off-leash dog park, a few minutes away.
- Schools: Elizabeth Rummel School (1033 Cougar Creek Drive) for elementary, Lawrence Grassi Middle School downtown, Canmore Collegiate on 8 Avenue; all are a drive or a bus. Roam’s free Route 5C loops this side of the valley with stops at Elk Run Boulevard, Lady Macdonald Crescent, Grotto Road, Grotto Way and Boulder Crescent; no stop carries the Riverstone name, and Grotto Road is the closest to Riverstone Road.
- Highway access. The Cougar Creek and Elk Run interchanges make this one of the quicker starts to a Calgary commute.
Who Riverstone suits, and who it doesn’t
- First-time detached buyers who need suite income to qualify
- Families who want a yard, a ball park and a rink without a Lions Park price
- Commuters and trades: the highway and Elk Run are minutes away
- Short-term rental investors: not permitted
- View and prestige buyers: the industrial park is the neighbour
- Anyone who wants to walk to Main Street. It is a drive or a long ride
Homes here sell on the suite and the garage, not the view. A properly permitted one-bedroom suite with its own entrance is the single biggest driver of resale value on these two streets.
Riverstone vs Cougar Creek vs Three Sisters
| Riverstone | Cougar Creek | Three Sisters | |
|---|---|---|---|
| Location | East end of town beside Elk Run, same side of the highway as Cougar Creek | North of the highway on the sunny bench | South-west across the highway and the river, around Stewart Creek golf |
| Housing | Detached, many with suites | Detached, duplexes, townhomes | Condos, townhomes, large detached |
| Winter sun | Valley floor, north bank | Best of the three | Shady side, wider valley |
| Entry price | Mid to upper-mid detached | Mid-market detached | Condos from the entry tier |
| Best for | Suite income, highway access | Families, schools, sun | Trails, golf, new phases |
What this means if you’re buying
Riverstone, Canmore homes for sale reward a specific buyer: someone who wants a detached house with a legal suite and does not mind an industrial neighbour, get the suite permit and zoning letter before you value the income, run the mortgage both ways with a licensed broker, and set up an alert, because you will not get a second chance in the same season. If you are a first-time buyer comparing this against a condo, the suite math is usually the deciding factor.
For the town-wide picture by property type, start with Canmore homes for sale.
Where this sits in the town: the neighbourhoods hub maps all eighteen with prices and buildings, so you can weigh Riverstone Canmore homes for sale against the rest of the east end before you commit to a street.
A local REALTOR® tracks these two Canmore streets, and few homes come up on them. Tell us your budget and whether you need a suite, and we’ll alert you before the open house. Free, no obligation.
Frequently asked
Where is Riverstone in Canmore?
Riverstone is at the east end of Canmore, on the same side of the Trans-Canada Highway as Cougar Creek and the Elk Run business park, reached off Grotto Road. Its two streets are Riverstone Road and Moraine Road. It is a few minutes by car from the Cougar Creek and Elk Run highway interchanges.
What kind of homes are in Riverstone?
Detached single-family homes on lots that are narrower than the older townsite neighbourhoods, many with attached or rear garages and a number built with legal secondary suites. Every one of the 119 residential parcels on Riverstone Road and Moraine Road is assessed as residential land and building in the Town’s February 2025 assessment roll, with no condominium or tourist-home entries, so treat any listing describing Riverstone townhomes with care.
Can I rent a Riverstone home nightly?
No. Riverstone is residential zoning, and the Town of Canmore only permits nightly rentals in Tourist Home and Visitor Accommodation properties. Advertising a residential home as a vacation rental draws fines of $2,500 for a first offence and $5,000 after that. Renting a legal suite or the whole home to a long-term tenant is permitted.
Is Riverstone a good area for families?
It is a practical one. Elk Run Ball Park, an off-leash dog park and the Cougar Creek outdoor rink are nearby, and a suite can offset the mortgage. Elementary students generally attend Elizabeth Rummel School across the highway on Cougar Creek Drive; check current catchments before you buy.
What do Riverstone homes sell for?
Mid to upper-mid for a Canmore detached home, and listings are rare, none were active on Zolo in August 2026. Homes with a legal suite carry a premium because lenders can count part of the rental income. Ask a local REALTOR® for the last several Riverstone Road and Moraine Road sales rather than relying on a town-wide average.
- Town of Canmore: Accommodation Types (tourist home, visitor accommodation, residential)
- Town of Canmore: Parks, Playgrounds & Sport Fields (off-leash areas, outdoor rinks)
- Canadian Rockies Public Schools: Schools (Elizabeth Rummel, Lawrence Grassi, Canmore Collegiate)
- Roam Transit: Canmore local routes 5C (Cougar Creek) and 5T (Three Sisters)
- Town of Canmore: 2025 Assessment Roll by tax roll, effective 18 February 2025 (Riverstone Road and Moraine Road parcels, subdivision plans and assessment classes)
- Town of Canmore: Livability Tax Program: Primary Residence Declaration
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