Squamish Real Estate - March Market Stats

The Spring Market is here, and things are starting to ramp up, as we typically see this time of year. As a whole, we are still seeing homes regularly sell slightly under asking. The condo market continues to lag, while the townhouse segment is balancing out with a noticeable increase in inventory. Sharply priced single family homes are still moving quickly, no surprise there.

Across the board, inventory is up and sales activity has picked up compared to earlier this year and last March. That said, with 234 active listings and 50 sales, we are still sitting in balanced market territory overall, which helps explain the continued price stability and negotiating room for buyers.

March Sales Snapshot

Overall Market

• Total Inventory: 234 (+16% year over year)
• New Listings: 106 (+11% change)
• Sales: 50 (+11%)
• HPI Benchmark Price: $1,103,600 (-1%)
• Sales to Active Ratio: 21%

Inventory is growing faster than sales, which is giving buyers more choice and keeping upward pressure on prices in check.

Detached Homes

• Total Inventory: 85 (+6%)
• New Listings: 41 (+17%)
• Sales: 18 (+38%)
• HPI Benchmark Price: $1,727,500 (+4%)
• Sales to Active Ratio: 21%

This is where we are seeing the most strength. Sales are up significantly compared to inventory, and prices are holding firm. Well priced detached homes are still seeing strong activity and, in some cases, quick sales.

Townhomes

• Total Inventory: 61 (+52%)
• New Listings: 37 (+95%)
• Sales: 21 (+61%)
• HPI Benchmark Price: $983,800 (-4%)
• Sales to Active Ratio: 34%

Townhomes are the busiest segment right now. Even with a big jump in inventory, the high sales to active ratio shows strong demand. The slight price dip suggests buyers are still price sensitive, but properties that are positioned well are moving.

Condos

• Total Inventory: 80 (+1%)
• New Listings: 23 (-39%)
• Sales: 10 (-16%)
• HPI Benchmark Price: $568,500 (-6%)
• Sales to Active Ratio: 12%

Condos remain the slowest segment. Lower new listing activity combined with softer sales and declining prices points to continued hesitation in this part of the market.

In general, there is still a lot of buyer hesitation out there, with many waiting for more certainty. We keep hearing things like “I’m waiting for the bottom of the market.” The reality is, you never know it’s the bottom until the market is already moving back up.

If you are someone who wants options, room to negotiate, and a bit more time to make decisions, this is a great window. For sellers, strategy matters more than ever, but we are still seeing well priced homes that show well sell quickly.

Interested in learning more? Let’s talk.

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