Quick Answer: How Is the Canmore Real Estate Market in November 2026?
Canmore, Alberta recorded 54 real estate sales in October 2026, up 38% from October 2025. Residential sales (detached, townhome and condo) rose 28% to 37. The market is segment-driven: detached and condo sales climbed while townhome sales fell 43%. There were 192 active listings in early November, about the same as a year ago.
October 2026 Canmore Market at a Glance
Property type | Oct 2026 sales | Oct 2025 sales | Change | Oct 2026 median sale price | Change vs. Oct 2025 | Active listings (early Nov 2026) | Months of inventory |
Detached & semi-detached | 14 | 5 | +180% | $1,719,500 | −4.4% | 56 | 4.0 |
Apartment condo | 15 | 10 | +50% | $689,000 | −10.5% | 43 | 2.9 |
Townhome | 8 | 14 | −43% | $1,103,450 | +10.5% | 36 | 4.5 |
Residential total | 37 | 29 | +28% | — | — | 135 | — |
Short-term rental (hotel condo & tourist home) | 13 | 9 | +44% | $892,500 | +2.1% | 47 | 3.6 |
All property types | 54 | 39 | +38% | — | — | 192 | — |
Source: Vincent & Wright Group analysis of MLS® System data for the Town of Canmore, October 2026. Months of inventory = active listings ÷ October sales. Lots and land are excluded from the segment breakdown because the sample is too small.
How Many Homes Sold in Canmore in October 2026?
Canmore recorded 54 real estate sales in October 2026, matching September and up 38% from the 39 sales in October 2025. Residential sales came in at 37, up 28% from 29 a year ago and essentially level with September’s 38.
That’s a solid month on paper. Two things are worth keeping in mind before reading too much into it.
First, October 2025 was a soft comparison. Only five detached homes sold last October, so part of this year’s year-over-year gain reflects a quiet month a year ago rather than a surge in demand.
Second, the segments went in different directions. Detached and apartment condo sales rose sharply, townhome sales fell, and prices moved differently in each. As we’ve seen through much of 2026, this is a fickle market: some segments are doing well while others lag, and the headline total hides most of that.
Compared with September, detached sales rose from 12 to 14 and condos from 13 to 15, while townhome sales dropped from 13 to 8. Short-term rental sales held steady at 13 for a second straight month. Unlike the spikes earlier in the year, these sales were not driven by a new project release. This is organic resale activity.
What Are Detached Home Prices in Canmore Right Now?
The median detached and semi-detached sale price in Canmore was $1,719,500 in October 2026, down 4% from $1,799,000 a year earlier. Detached homes had their busiest October in years, with 14 sales, but prices didn’t follow volume up:
• Median sale price: $1,719,500, down 4% from last October and down from September’s $1,850,000
• Average sale price: $1,933,303, up from $1,595,100 a year ago
• Average days on market: 85, compared with 66 last October
The most telling number in this segment is the gap between what’s selling and what’s still listed. The median asking price of detached homes on the market in early November was $2,395,500, roughly $675,000 above October’s median sale price. Buyers are clearly active in the detached market, but they’re buying homes that are priced well. Listings priced aspirationally, particularly at the upper end, are sitting.
Detached inventory dropped to 56 listings from 63 a month earlier (60 a year ago). At October’s sales pace, that’s about 4 months of inventory, down from 5.2 months in September.
Are Canmore Townhome Prices Going Up?
Yes. The median townhome sale price in Canmore rose 10.5% year over year to $1,103,450 in October 2026, even though townhomes were the only residential segment to post fewer sales than last year: 8 in October against 14 a year ago.
• Median sale price: $1,103,450, up from $998,225 last October
• Average sale price: $1,069,019, up from $1,002,782
• Average days on market: 64, compared with 67 a year ago
Fewer sales at higher prices usually points to limited choice rather than weak demand, and townhome listings are still 14% below last year (36 vs. 42). There’s one caution. Because October sales were low, months of inventory jumped to about 4.5, up from 2.5 in September. One slow month doesn’t make a trend, but it’s worth watching through the rest of the fall.
Are Canmore Condo Prices Dropping?
The median apartment condo price in Canmore fell 10.5% year over year to $689,000 in October 2026, even as condo sales rose to 15 from 10, the strongest condo month since July.
• Median sale price: $689,000, down from $770,000 last October and from September’s $813,000
• Average sale price: $751,373, down from $945,700
• Average days on market: 149, more than double last October’s 63
Many of the condos that sold in October had been on the market for months, and they sold at lower prices. Supply is tight, though. There are 43 active condo listings, down from 48 a year ago, which works out to just under 3 months of inventory, the lowest of any segment. Well-priced new condo listings should still find buyers quickly.
How Are Short-Term Rental Properties Selling in Canmore?
Short-term rental properties (hotel condos and tourist homes) recorded 13 sales in October 2026, up from 9 last October and matching September. The median sale price was $892,500, up 2% from $874,250 a year ago.
Listings eased slightly to 47 from 52 in September, but they’re still up 57% from 30 a year ago. As we noted last month, this is the natural cycle for these properties: owners run them through the summer rental season and bring them to market once it winds down. Short-term rental buyers have more selection now than at almost any point in the past two years.
How Much Inventory Is on the Canmore Market?
Canmore had 192 active listings across all property types in early November 2026, down from 205 a month earlier and almost identical to 191 a year ago.
The mix has shifted, though. Residential listings totalled 135, down 10% from 150 a year ago:
• Detached & Semi-Detached: 56 listings (63 last month, 60 a year ago)
• Apartment Condos: 43 listings (46 last month, 48 a year ago)
• Townhomes: 36 listings (32 last month, 42 a year ago)
• Short-Term Rentals: 47 listings (52 last month, 30 a year ago)
So overall supply is unchanged from last year, but more of it sits in short-term rentals and less in the homes most local buyers are looking for.
How Do Canmore Home Sales Compare Year to Date?
From January through October 2026, Canmore residential sales totalled 354, up 10% from 322 in the same period of 2025. Lots are set aside because the sample is too small.
Residential — 2026 vs. 2025: - Detached & Semi-Detached: 123 vs. 116 - Apartment Condos: 108 vs. 92 - Townhomes: 123 vs. 114 - Residential Total: 354 vs. 322 (up 10%)
Short-Term Rentals: 180 vs. 111 (up 62%), still largely a result of the February and June project releases.
Total Sales: 545 vs. 441 (up 24%)
Residential sales are now ahead of last year in every segment, after trailing 2025 through the first half of the year.
How Will Interest Rates and the Foreign Buyer Ban Affect Canmore Real Estate?
Two developments are worth watching heading into winter.
Interest rates: On October 28, the Bank of Canada raised its policy rate to 2.50% from 2.25%, its first increase in this cycle, and further increases may follow. For buyers relying on financing, that makes a mortgage pre-approval, and a rate hold, more valuable than it was a few months ago.
Foreign buyer ban: The federal budget released November 5 proposes extending the Prohibition on the Purchase of Residential Property by Non-Canadians Act for two more years, to January 1, 2029, instead of letting it expire on January 1, 2027. It also proposes exempting newly built residential properties. Ottawa says it will introduce legislation and launch a regulatory process, so the exact rules, including how “new” is defined, aren’t final yet.
For Canmore, the practical effect is that most resale homes stay off-limits to non-Canadian buyers for two more years, while new-construction projects may be able to sell to them once the exemption takes effect. That could widen the buyer pool for developers. Resale sellers shouldn’t count on foreign demand returning before 2029. We’ll share more as the details are released.
Is Late Fall a Good Time to Buy a Home in Canmore?
As we move into late fall, Canmore sales typically soften a little. That’s a normal seasonal pattern, and it creates real opportunity for buyers who want to be settled into a home before winter.
Buyers: Detached homes and short-term rentals offer the most listings to choose from right now, and sellers whose homes have been on the market for a while tend to be more open to negotiation at this time of year. Condo buyers face the tightest supply, but October’s results show there’s room to negotiate on listings that have been sitting.
Sellers: Pricing decides the outcome. In the detached segment, the gap between asking and selling prices is wide, and the homes that sold were the ones priced to the market. Townhome sellers are still seeing strong prices with fewer competing listings. Condo sellers have little competition but should expect buyers to push back on price if a listing has gone stale.
November 2026 Market Snapshot
• Total Sales (October): 54 vs. 39 in October 2025 (up 38%)
• Residential Sales (October): 37 vs. 29 (up 28%)
• Short-Term Rental Sales (October): 13 vs. 9 (up 44%)
• Active Listings (All Types, early November): 192 (205 last month, 191 a year ago)
• Residential Listings: 135, down 10% year over year
• Detached & Semi-Detached Inventory: ~4.0 months
• Apartment Condominium Inventory: ~2.9 months
• Townhouse Inventory: ~4.5 months
• Short-Term Rental Inventory: ~3.6 months
• YTD Residential Sales: 354 vs. 322 (up 10%)
• YTD Total Sales: 545 vs. 441 (up 24%)
• Overall Market Condition: Balanced and segment-driven, with active detached and condo buyers, firm townhome pricing, and the most selection in short-term rentals
Frequently Asked Questions About the Canmore Real Estate Market
Is it a buyer’s or seller’s market in Canmore right now?
It depends on the property type. As of early November 2026, Canmore apartment condos had about 2.9 months of inventory, the tightest supply of any segment, while detached homes had about 4.0 months and townhomes about 4.5 months. Overall, the market is balanced and segment-driven rather than clearly favouring buyers or sellers.
What is the average price of a detached home in Canmore?
In October 2026, the median sale price of a detached or semi-detached home in Canmore, Alberta was $1,719,500 and the average sale price was $1,933,303. The median asking price of detached homes still on the market in early November was $2,395,500.
How many homes are for sale in Canmore?
There were 192 active listings across all property types in Canmore in early November 2026: 56 detached and semi-detached homes, 43 apartment condos, 36 townhomes and 47 short-term rental properties, plus a small number of lots.
Can foreigners buy property in Canmore?
Canada’s Prohibition on the Purchase of Residential Property by Non-Canadians Act currently restricts most non-Canadians from buying residential property in Canmore. The November 5, 2026 federal budget proposes extending the ban to January 1, 2029, while exempting newly built residential properties. The change still requires legislation and regulations, so buyers should get legal advice before acting on it.
Are Canmore home prices going down?
Not across the board. In October 2026, the median Canmore condo price fell 10.5% year over year and the median detached price fell 4%, while the median townhome price rose 10.5% and the median short-term rental price rose 2%. Price direction in Canmore currently depends on the segment.
When is the best time to buy a home in Canmore?
Spring and fall are typically the Bow Valley’s busiest selling seasons. Late fall and early winter usually bring a slightly slower pace of sales, which can give buyers more room to negotiate, especially on listings that have been on the market for a while.
About the Author
Chris Vincent is Executive Vice-President, Sales at Sotheby’s International Realty Canada and co-founder of the Vincent & Wright Group, a luxury real estate team serving Canmore, Banff, Harvie Heights and the surrounding Bow Valley communities. The team’s combined career transactions exceed $700 million. Chris has lived in Canmore since 2003 and publishes this market update every month.
If you’re thinking about buying or selling real estate in Canmore, Banff, Harvie Heights, Dead Man’s Flats, Exshaw, or Lac des Arcs, the segment you’re in matters more than the headline. Contact Chris at 403.707.8048 or visit canmorebanffrealestate.com.
