Squamish’s average sale price across all property types in December 2021 was $1,192,249 (+33.5%). We saw 30 new listings to the MLS throughout the month (down 21% year-over-year) and 50 new sales registered which represents a 33% decrease from December 2020. It took an average 15 days to sell a property in Squamish (64% faster than the same time in 2020).
The average sales price for Detached Properties in Squamish was $1,655,261 (+26.7% from 2020). There were 23 sales (-17% from 2020) throughout the month and 14 new listings (+40% more than December 2020). This presents a clear sellers market when 23 sales occurred in the same month as 14 new listings. Our consumption rate far exceeds our supply.
The average sales price for Townhomes in Squamish was $984,455 (+28% from the same time in 2020). There were 10 new sales throughout the month and 7 new listings (-22% from 2020). It took of average 4 days to sell a townhouse in December 2020. This is 84% faster than December 2020, which saw an average of 25 days to sell a townhouse.
The average sales price for a Condo/Apartment in Squamish throughout the month of December was $621,926 (+17% from 2020). There were 7 new listings (-50% from 2020) and 15 new sales in this property category (-40% from 2020). This means there were more than double the amount of new condo sales than listings in Squamish throughout December. Again, this is a key indicator showcasing how strong of a sellers market we are currently operating within.
My thoughts…
The conversation remains much the same as it has throughout 2021. We are operating in a strong sellers market where the consumption of real estate far exceeds the supply. We had a light slowdown in the market throughout July and August, however, it immediately returned to a strong sellers market as soon as September hit. Come key takeaways from the December market stats are that the average price point of a detached home in Squamish is above $1.6M (nuts) as well as days on market across the board is low, however 4 days for a townhome to sell is just crazy! That means bully offers, with no subjects where the norm throughout the month.
Throughout January we have started to see some more inventory hit the market. Not enough to balance market conditions, however, it has spirits up as compared to November/December of 2020.
If you are looking to sell your home, townhome or condo – spring is fast approaching and conditions couldn’t be better for you. If you are looking at entering the market, its time to start the conversation on how to best prepare you, as it takes planning and preparation in order to be successful in this market. Guidance is key on all fronts, so please let me know if you have any questions.
Katie McLachlan I Katie.b.mclachlan@gmail.com I (604) 213-0833 I Rennie & Associates Realty Ltd
