What’s happening in the Squamish market right now? Well, it depends on where you look. The condo market is dragging it’s heels a bit, but if you’re hoping to buy, that just means you have a decent inventory to choose from and potentially less competition. For detached homes and townhomes, we’re seeing well priced properties get snatched up quickly.
And of course an important factor in all this is interest rates which have a huge impact on purchasing power. After 2 years of rate hikes and the Bank of Canada holding at 5% for the fifth time, everyone is eager to see those cuts. A decline in rates is predicted later this year. So, I’m hopeful for an active Spring Market but the jury’s still out.
Stats from February 2024
Sales to Active Ratio: 24% overall
Detached homes: 26%
Condos: 11%
Townhomes: 41%
Understanding the Sales to Active Ratio:
Buyer's market = <12% / Balanced market = 12%-20% / Seller's market = >20%
DETACHED HOUSES
HPI Benchmark Price: $1,531,600 [+1.9%]
Listings: 70 [-24.7%]
Sales: 18 [63.6%]
** % one-year change
TOWNHOMES
HPI Benchmark Price: $1,030,500 [+3.2%]
Listings: 26 [0%]
Sales: 11 [57.1%]
CONDOS
HPI Benchmark Price: $638,900 [+9.3%]
Listings: 44 [63%]
Sales: 5 [-37.5%]
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.