140 Kananaskis Way, No. 134, Canmore, Alta.
Asking price: $838,000 (May, 2023)
Selling price: $832,000 (May, 2023)
Previous selling price: $155,000 (2015)
Taxes: $7,375 (2023)
Days on the market: Three
Listing agents: Christopher Vincent and Laura Wright, Sotheby’s International Realty Canada
This two-bedroom condo is part of the Mystic Springs recreational getaway with more than 40 hotel-condominium townhouses surrounding a heated pool and hot tub in central Canmore, a short drive east of the gates to Banff National Park. Rented out, units have generated up to $120,000 in gross revenue annually, which made this suite attractive to out-of-town buyers.
“A financial publication listed Canmore amongst one of the top places on earth to own an Airbnb because the revenue is so good,” said agent Christopher Vincent.
“In the grand scheme, there aren’t that many of them, and we abut Banff, which has a build-out capacity, so there are no more commercial spaces to build.”
After three days of market exposure, the seller accepted an offer of $832,000 – a gain of $677,000 over what they paid in 2015.
“In 2011, 2012 and 2013, we couldn’t give these away,” Mr. Vincent said. “They were $155,000 and on the market for months.
“The advent of online booking systems, like Airbnb, sure has changed that market.”
What they got
This 20-year-old townhouse provides roughly 880 square feet of living space spread across two levels, a street-level entrance and a back patio.
The main floor has an open kitchen and dining area, and a separate living room with an electric fireplace.
Upstairs, there are laundry facilities and two bedrooms with vaulted ceilings. The larger one also has a private bathroom.
The unit includes parking. Monthly fees are $1,018.
The agent’s take
“They all have the same floor plan, so it comes down to the views because some back onto pool and some back onto, essentially, a brick wall,” Mr. Vincent said.
“This one was great, just steps from the pool from the south-facing yard.”