Canmore listings increase for the first time in 3 years

The mountain resort town of Canmore is suffering the effects of the downturn in Alberta’s oil sector with a drop in sales, and listings rising.

A report from Sotheby’s International Realty Canada showed that sales were down 44 per cent in April compared to a year ago, but listings were up for the first time since 2012.

Prices, meanwhile, have also increased with the average sale price of $632,000, up 15.5 per cent on a year ago. 

Sales of luxury and second-home properties are particularly sluggish, and the report notes that properties are taking longer to sell.

With Canmore lagging Calgary by around six months, Sotheby’s expects a slowdown in the fall. 

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