I think I speak for most when I say, WHAT A WEEK IT HAS BEEN!
On Tuesday we saw Tariffs placed on all Canadian imports, and retaliatory tariffs imposed on US imports into Canada. By Thursday we saw a pause placed on these tariffs. The looming threat of tariffs has left many scratching their head about if they should hold off on plans to move, continue with a relocation, if they should upsize, downsize or stay put.
At the end of the day one thing remains true regardless of what is happening worldwide or in our backyard – people will always need to buy and sell real estate and our market in Squamish is resilient. There will of course be ebbs and flows on how many enter the market based on geopolitical events, personal events, market conditions and interest rates but my stance remains the same – now is a great time to be making moves. With limited inventory in the single family home and townhouse market right now – this presents a great opportunity to stand out with less competition.
I am always happy to talk through market conditions and your particular situation. Without further hesitation, here is a breakdown of February’s market statistics:
Squamish – All Home Types
HPI Benchmark Price: $977,800 (-7.5% year-over-year)
Average Sold Price: $1,316,712 (+4% year-over-year)
Average Days on Market: 46 Days (+9% year-over-year)
Total Inventory: 169 Active Listings (+5% year-over-year)
New Listings: 86 New Listings (+28% year-over-year)
Sales: 51 Sold Homes (+41% year-over-year)
Sales/Active Listings Ratio (Absorption Rate): 30% (+48) *sellers market*
Squamish – Single Family Homes Homes
HPI Benchmark Price: $1,464,000 (no change year-over-year)
Average Sold Price: $1,918,222 (+23% year-over-year)
Average Days on Market: 82 Days (+134% year-over-year)
Total Inventory: 58 Active Listings (-19% year-over-year)
New Listings: 24 New Listings (-11% year-over-year)
Sales: 18 Sold Homes (no change year-over-year)
Sales/Active Listings Ratio (Absorption Rate): 31% (+24% year-over-year) *sellers market*
Squamish – Townhouses
HPI Benchmark Price: $863,200 (-14% year-over-year)
Average Sold Price: $1,093,730 (+6% year-over-year)
Average Days on Market: 33 Days (-25% year-over-year)
Average Price Per Sq. Ft: $749 (+3% year-over-year)
Total Inventory: 38 Active Listings (+26% year-over-year)
New Listings: 24 New Listings (+41% year-over-year)
Sales: 20 Sold Homes (+81% year-over-year)
Sales/Active Listings Ratio *Absorption Rate*: 53% (+43% year-over-year) *sellers market*
Squamish – Condominiums
HPI Benchmark Price: $544,000 (-15% year-over-year)
Average Sold Price: $601,080 (-16% year-over-year)
Average Days on Market: 12 Days (-29% year-over-year)
Average Price Per Sq. Ft: $876 (+12% year-over-year)
Total Inventory: 64 Active Listings (+30% year-over-year)
New Listings: 32 New Listings (+52% year-over-year)
Sales: 10 Sold Condos (+100% year-over-year)
Sales/Active Listings Ratio *Absorption Rate*: 15% (+52% year-over-year) *balanced market*
Lets talk real estate and how I can make your real estate goals become a reality this year!
