Welcome to 2025, everyone! We’re one month in, and with an amazing year behind us, I’m excited to move into this new year with all of you. As always, I’m here to support you, whether you’re looking to buy, sell, or start passively looking in Canmore and the surrounding area. As you may know, the world of real estate is dynamic and ever-changing, especially in a desirable place like this beautiful town of ours. As we move into 2025, Canmore's real estate market remains one of the most attractive and competitive in Canada. With its breathtaking views, proximity to Calgary, and access to world-class resorts and national parks, Canmore continues to be a hotspot for buyers and investors. No matter what your real estate goals are for the upcoming year (and years), I know how daunting our market can be and how massive and meaningful these decisions truly are, that’s why I’m committed to keeping you informed and excited about the potential for your future in this community. Here's a look at the factors shaping Canmore’s market, trends to watch for, and tips for both buyers and sellers in the year ahead.As with most forecasts, it's always important to remember that forecasts are subject to change, no one has a crystal ball. Based on statistics, national and provincial sentiment, and what federal agencies and banks are doing, we come to our predictions below.1. Canmore: The Ever-Desirable Gem of Alberta
Canmore has long been known for its natural beauty and outdoor lifestyle, but its appeal goes beyond just the scenery. As more people seek an escape from city life, Canmore’s prime location, just a short drive from Calgary and an international airport, has made it one of Alberta’s most desirable communities. The town offers residents easy access to hiking, skiing, and other outdoor adventures, all while being close enough to the city for convenience.This proximity to Calgary, coupled with its growing popularity as a vacation destination, ensures that Canmore’s real estate market remains strong. In 2025, expect the demand to keep rising, pushing property values higher. If you’ve been thinking about buying or selling in Canmore, this is the perfect time to explore the market.2. Alberta’s Economic Pulse: Energy, Immigration, and Population Growth
Alberta’s economy is showing positive signs, thanks in part to the ongoing strength of the energy sector, an influx of new residents, and a growing population. While these factors are driving demand in major cities like Calgary and Edmonton, Canmore is experiencing even stronger price growth. In fact, Canmore’s housing market is expected to see price increases north of 10% in 2025, above the provincial average of 7-8%.This growth is largely driven by the influx of people moving to the province, whether it’s young professionals seeking a high quality of life or families looking to settle in a town that offers both serenity and proximity to big-city amenities. If you’re a buyer, it’s important to keep in mind that Canmore’s increasing demand is tied to these larger trends, and this growth shows no signs of slowing down. But don’t let that discourage you. Investing in a location that has proved to be consistently in demand can be one of the wisest decisions of your life.3. Strong Demand Meets Limited Inventory: A Competitive, High-Demand Market
One of the most significant factors influencing Canmore’s real estate market is the tight inventory. The town’s finite number of homes and limited new development options mean that buyers are facing a competitive environment. Inventory levels are expected to remain relatively low throughout 2025, with demand continuing to outpace supply, resulting in higher prices. Of course, we’re positioned to see an increased stock over the next several years due to larger developments that are underway. But at the moment, this tight market means that both buyers and sellers need to act quickly and strategically. For buyers, securing financing early and being ready to move quickly when the right property comes along is crucial. Sellers can expect strong demand, with properties selling close to asking price or at a premium, especially if they are well-located or offer unique features like mountain views and access to outdoor spaces. My advice for buyers is to act as if you’re buying tomorrow, even if that’s not the case. Get everything you need in order, and be sure you have a trusted real estate professional on your side. If something comes up, you need to be agile, and being proactive will make or break landing your dream home.4. Canmore’s Desirability Drives Overflow Interest to Nearby Communities
As Canmore’s desirability continues to soar, the demand for homes is spilling over into nearby communities like Cochrane, Airdrie, Calgary, and other areas that make the mountains easily accessible on the weekends. These towns are seeing an uptick in prices as more people consider living in more affordable areas while still enjoying the perks of being close to Canmore.For buyers who may find Canmore's prices out of reach, these surrounding areas offer a great opportunity to purchase a home with easy access to Canmore’s amenities and outdoor lifestyle. Buyers can still enjoy the mountain views and quick access to the resorts while being able to purchase at a more competitive price point.5. The Spring Market Frenzy: What Buyers and Sellers Can Expect
The spring market in Canmore is often referred to as a "feeding frenzy" due to the high level of activity and competition. This is especially true for buyers looking for properties with prime views, storage, or top-floor units, which tend to sell quickly. If you’re a buyer, it’s important to stay ahead of the competition by being pre-approved for financing and acting quickly when you find a property you love.For sellers, spring is a prime time to list your property, as the market is typically at its most active. You’ll want to make sure your home is staged well and priced competitively to attract multiple offers. With the right timing and presentation, sellers can maximize their return in this fast-paced market.6. Renting in Canmore: A Competitive Yet Thriving Market
While many people are focused on buying in Canmore, the rental market remains highly competitive as well. Both long-term and short-term rentals are expected to stay in high demand through 2025, fueled by Canmore’s extended tourism season from summer through fall.For investors, this presents a prime opportunity. With Canmore’s ongoing appeal as a vacation destination, properties that can be rented out short-term are likely to see strong returns. Long-term rental rates for properties, especially those with three or more bedrooms, remain high, making Canmore an attractive location for both investors and tenants alike.7. Multi-Family Living: The Growing Trend in Canmore
In recent years, there has been a noticeable shift toward multi-family and intergenerational living in Canmore. Many buyers are seeking properties that can accommodate multiple generations or offer secondary suites or carriage houses for additional income. This trend is driven by the rising cost of housing and the desire for families to stay close together in one location.For buyers looking for flexible living arrangements, there are few properties on the market that include these types of spaces making it a fast-paced experience when purchasing. Whether you’re looking for a home that can house extended family or a property with rental potential, the multi-family trend is here to stay.8. Tips for Sellers: Maximizing Your Property’s Value in 2025
Sellers in Canmore can expect a strong market in 2025, but that doesn’t mean you can afford to be passive. To get the best return on your property, it’s important to price it competitively and present it in the best possible light. Buyers are attracted to homes with high-quality finishes, stunning views, and outdoor spaces that reflect the Canmore lifestyle.If you’re considering selling, work with an experienced realtor who knows the market and can guide you on the best timing and pricing strategy. Proper staging and a great listing can make all the difference in a competitive market like Canmore’s. It’s also important to partner with an agent who has a proven track record for strong marketing. The way your property is portrayed in photos, video, and written content is imperative, and you want to work with someone who understands contemporary marketing channels like social media.9. Advice for Buyers: Successfully Navigating Canmore’s Real Estate Market
Navigating Canmore’s competitive market can be daunting, but with the right approach, buyers can succeed. Start by getting pre-approved for financing so you can move quickly when the right property comes along. Understand that properties in Canmore are often priced at a premium, so be prepared for bidding wars, especially in the spring.Whether you're buying or selling in Canmore, 2025 is shaping up to be an exciting year in the market. With the continued demand for properties in this desirable location, it's more important than ever to stay informed and act strategically. Whether you're drawn to Canmore's charm or looking at nearby communities for more affordable options, the opportunities are plentiful. Working with an experienced realtor can help you navigate this competitive market and make the most of your real estate journey. Let’s make 2025 a successful year in Canmore! I’m always here if you need guidance, support, or a familiar face in your corner.Let’s chat!