Real estate news for Canmore and Banff brought to you by RE/MAX Alpine Realty.

Real estate in Canmore is exclusive to the right buyer. Canmore and surrounding areas like Banff have extensive protection for wildlife and parklands. Because of these heavy restrictions, buyers are carefully weeded out before purchasing real estate in these towns. Despite such measures, owning real estate in Canmore is undoubtedly something to brag about. The stunning mountains and fairytale landscapes are worth every penny. Canmore is ranked as one of the top places to live in Canada and is named one of the best mountain towns in North America. Discover important details about life in Canmore, Alberta by reading the article below.

Living in Real Estate in Canmore – What to Know?

Canmore is an exciting place to have a property. Recreational opportunities are endless no matter the season of the year. According to the 2021 census results, there are 15,990 permanent residents living in Canmore. This is a small number of residents compared to other cities in Canada. In addition, Canmore is located 66 miles west of Calgary and 12 miles east of Banff. Other neighbouring communities include Airdrie and Cochrane. The Town of Canmore offers some of the most beautiful scenery to work, live and play. All sides of the town are bordered by the towering Rocky Mountains, and cut through the middle lies the rumbling, Bow River. Moreover, Canmore is only a short hour and a half drive from Calgary’s city centre and mere minutes from Banff National Park!

There are over 71 kilometres of multi-use trails within the town, five major ski resorts, the world-class Canmore Nordic Centre, endless hiking opportunities and so much more. Canmore is truly an outdoor enthusiast’s paradise! Residents can take in the stunning views from a kayak, raft, canoe, or mountain face on any given day. The range of activities makes Canmore a thrill seeker’s dream destination. Furthermore, there are a host of culinary delights and extraordinary shopping options in Canmore. Despite its large economic base in Tourism, Canmore has kept its promise to create a town that is sustainable and environmentally sensitive. Small-town vibes reign strong in this eclectic mountain town in Alberta. 

Adventure through the breathtaking scenery by visiting some of the country’s best golf and ski hills. Courses like Silvertip and Stewart Creek have some of the best-golfing sceneries in all of Canada. Get a taste of each season when you own real estate in Canmore. 

Buying Canmore Real Estate.

Due to Canmore’s beautiful landscape, the cost of living is very high. Compared to most other places in the country, Canmore’s cost of living sits roughly 2% above the national average. While prices are high, it is worth the cost to own a property in this gorgeous town. However, it is important to keep in mind that housing is expensive in Canmore. The average home price in 2021 for a property in Canmore was about $1.1 million. This cost alone is enough to deter the average buyer. This makes Canmore an exclusive place to live if you love the great outdoors. Although the average price may seem high, it is not uncommon to find housing below $1 million on the outskirts of the town. However, the closer you are to downtown Canmore, the more you can expect to pay. 

Renting is also a viable and very common option in Canmore. Yet, the cost of rent is still much higher than in other cities in Canada. The average price for a two-bedroom apartment resides within the $1,700 to $1,900 range. However, this rate does change depending on the location, amenities, size, etc. 

Furthermore, Canmore has some of the lowest property tax rates in the province of Alberta. Despite such low property tax rates, the cost of real is significantly higher. Thus, causing upward pressure on the cost of property taxes. Also, there are four common types of zoning in Canmore. These include residential, visitor accommodation, tourist homes and employee housing. Real estate in Canmore is mostly freehold, unlike Banff where all properties are leasehold.

If you are planning on purchasing real estate in Canmore, it is important to factor the high cost of living into your budget. 

Contact RE/MAX Alpine Realty Today!

If you are interested in purchasing real estate in Canmore contact us today! Canmore is one of the most beautiful places in Canada to own a property. Reach out today to learn more about all of the amazing opportunities that come with living in real estate in Canmore. For more information, feel free to message us with any questions or concerns you have about living in the area. Be sure to check back next month for more real estate-related content and visit our social media page! We look forward to working with you in the near future!

Buying your first home is one of the largest investments of your life. Canada’s Economic Action Plan introduces the First-Time Home Buyers’ (FTHB) Tax Credit and the expansion of the Home Buyers’ Plan (HBP) to provide you with additional benefits!