It’s mid November which means it’s time to take a look at the results for the month just passed. When comparing these results we look at the previous year, which was an entirely different market. Although the market is hanging out right in an overall balanced state at the moment, that is for the most part attributed to low inventory levels which means the slow down in sales for this time of year is not having such a big effect. That being said, on the ground we are seeing some real changes in pricing and the amount of time a property will sit on the market before it sells, expires or cancels its listing. The next few months will be interesting to monitor as we move into what is traditionally a slower time of year. But rest assured, homes will continue to transfer hands as they always do.
Squamish – All Property Types
HPI Benchmark Price: $1,076,600 (+2% year-over-year)
Average Sold Price: $1,238,376 (+13% year-over-year)
Average Days on Market: 48 Days (+269% year-over-year)
Total Inventory: 192 Active Properties (+106% year-over-year)
Sales: 29 Sold Homes (-57% year-over-year)
Sales/Active Listings Ratio *Absorption Rate*: 15% (-79% year-over-year)
Detached Homes
HPI Benchmark Price: $1,685,700 (+5% year-over-year)
Average Sold Price: $1,725,733 (+7% year-over-year)
Average Days on Market: 42 Days (+223% year-over-year)
Total Inventory: 112 Active Properties (+119% year-over-year)
New Listings: 34 New Listings (+21% year-over-year)
Sales: 15 Sold Homes (-37% year-over-year)
Sales/Active Listings Ratio *Absorption Rate*: 13% (-71% year-over-year) *balanced market*
Townhouses
HPI Benchmark Price: $992,000 (+5% year-over-year)
Average Sold Price: $901,975 (-14% year-over-year)
Average Days on Market: 48 Days (+242% year-over-year)
Total Inventory: 37 Active Properties (+270% year-over-year)
New Listings: 14 New Listings (+16% year-over-year)
Sales: 4 Sold Homes (-76% year-over-year)
Sales/Active Listings Ratio *Absorption Rate*: 11% (-68% year-over-year) *Just dipped into a buyers market*
Condominiums
HPI Benchmark Price: $532,900 (-9% year-over-year)
Average Sold Price: $541,000 (-17% year-over-year)
Average Days on Market: 49 Days (+276% year-over-year)
Total Inventory: 40 Active Properties (+73% year-over-year)
New Listings: 24 New Listings (-14% year-over-year)
Sales: 9 Sold Homes (-64% year-over-year)
Sales/Active Listings Ratio *Absorption Rate*: 22% (-79% year-over-year) *Sellers market for this segment*
