Looking at these two towns, their similarities, and the price difference, I am very optimistic that from an investor’s perspective, real estate in Canmore is a very good, solid investment with a lot of space for future appreciation.
In 10 years from 2012 to 2022 the average price of a property in Canmore doubled. And although – like in every market - there can be ups and downs in the short run, I am very confident of a further increase of real property value in Canmore over time.
When people move to Calgary, they are doing so in search of a job. But people who are coming to Canmore are looking for a lifestyle. And the beauty of the Canadian Rockies, the proximity to Banff National Park but also to Calgary with all it’s infrastructure, the mountains, the river, lakes, 4 ski resorts nearby, all of that is not going to change.
During the COVID pandemic, demand for housing around Canmore soared even more and with the new possibilities of remote working, we are seeing that buyers from Ontario and BC are now also taking an interest in Canmore and Alberta in search of a solid investment.
Despite a surge of Canada’s interest rate, the biggest challenge for the Canmore real estate market these days is not a lack of qualified buyers but a lack of inventory.