It’s officially spring here in Squamish and everyone is out and about soaking up the sunshine.
There has been a noticeable change in the market of late, with pricing remaining strong, however, multiple offers becoming less commonplace. Why has this happened? Well its likely a combination of a few things: 1) There have been interest rate rises & a new federal budget released and 2) COVID-19 restrictions have dropped and people are able to travel again.
March statistics still shows a strong sellers market with the average sold price ticking over $1.2M and just 16 days as the average time to sell a property. Let’s take a closer look at the numbers, and as always, if you want to discuss this in more details, just let me know.
Squamish – all property types
Average Sold Price: $1,204,455 average sold price | +9.7%
Average Days on Market: 16 days on market | -36%
Average Price Per Square Foot: $737 per sq. ft. | +14.6%
New Listings in March: 100 new listings throughout the month | -29.6%
Sales in March: 71 sales in March | -29.7%
Total Inventory: 98 listings at the end of the month | -35.1%
Absorption Rate: 72% | +8.2%
DETACHED HOMES
Average Sold Price: $1,628,737 average sold price | +5.9%
Average Days on Market: 20 days on market | -33.3%
Average Price Per Square Foot: $678 per sq. ft. | +3.2%
New Listings in March: 45 new listings throughout the month | -18.2%
Sales in March: 27 sales in March | -41.3%
Total Inventory: 59 listing at end of month | -13.2%
Absorption Rate: 45% | -32.2%
TOWNHOUSES
Average Sold Price: $1,097,248 average sold price | +21.9%
Average Days on Market: 14 days on market | +75%
Average Price Per Square Foot: $716 | +15.7%
New Listings in March: 25 new listings throughout the month | -28.6%
Sales in March: 17 sales in March | -29.2%
Total Inventory: 16 listing at end of month | -23.8%
Absorption Rate: 106% | -7%
CONDOMINIUM/APARTMENTS
Average Sold Price: $761,009 average sold price | +41.8%
Average Days on Market: 13 days on market | -59.4%
Average Price Per Square Foot: $832 per sq. ft. | +31.6%
New Listings in March: 22 new listings throughout the month | -52.2%
Sales in March: 23 sales in March | -14.8%
Total Inventory: 16 listing at end of month | -70.4%
Absorption Rate: 143% | +187.6%
