Home sales are up in Canmore.
Home sales in the mountain town hit an all-time high, topping pre-recession levels not seen since 2008. The town saw an increase of 38 per cent from 365 home sales in 2012 to 503 home sales in 2013.
There were 145 condominium sales in 2013 compared to 61 in 2011, showing a 138 per cent increase. Also increasing was the number of building permits issued which rose from 151 in 2012 to 251 in 2013. Out of the total number of building permits issued there were 203 residential, 44 commercial, three institutional/ government and one industrial. Throughout 2012, Canmore issued 126 residential, 22 commercial, two institutional/government and one industrial building permit.
With home sales up developers like Spring Creek are offering new product. Spring Creek offers condominium suites at Creekstone Mountain Lodge located in the heart of Canmore.
“We continue to see increased interest in home purchases in Canmore as full-time and recreational buyers come back to the market,” said Frank Kernick, president and CEO of Spring Creek. “Canmore has always had a relatively strong market with strong increase in value over the past three decades. It’s great to see buyers looking for a place to call home coming back into a market that also represents a great investment.”
Currently Creekstone Mountain Lodge at Spring Creek is in the preconstruction phase with initial land preparations underway where 54 units will be constructed.
“For around four years during the recession, Canmore had two years’ worth of inventory to sell, but now it is down to just three or four months’ worth,” said Kernick. “Canmore is now at new market lows for existing inventory.”
The fourth condominium lodge to be built at Spring Creek, Creekstone Mountain Lodge will feature one, two and three bedroom floor plans starting at $349,000.
“Spring Creek’s vision is to build a vibrant neighbourhood at the heart of downtown Canmore,” said Kernick. “What’s great about Creekstone Mountain Lodge is its location. If you live here, you can get away with not having a vehicle. Everything you could ever want is on your doorstep, and the views of the Rockies are unbeatable.”
The lodge has views of the Three Sisters Peaks, Mount Lawrence Grassi, Ha Ling Peak and the Rundle Range.