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September Market Update

Posted by KatieMcLachlan on October 28, 2020
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Katie McLachlan Remax Squamish Real estate Relocation Specialist
Katie McLachlan – September 2020 Market Review for Squamish

Squamish’s average sale price across all property types in September 2020 was $822,560 (5.3% decrease as compared to last Septembers average price). We saw 97 new listings to the MLS throughout the month (an increase of 6.6% year-over-year) and 72 new sales registered which represents a huge 60% increase from September 2019.

The average sales price for Detached Properties in Squamish was $1,105,474 (+3.9% from 2019). There were 27 sales (+22.7% from 2019) throughout the month and 52 new listings (+48.6% from 2019).

The average sales price for Townhomes in Squamish was $706,887 (+0.6% from September 2019). There were 23 new sales throughout the month (+91.7% from 2019) and 22 new listings (-8.3% from 2019).

The average sales price for Apartments in Squamish throughout the month of September was $488,103 (-3.3% from 2019). There were 19 new listings (-26.9% from 2019) and 16 sales in this property category (+199.7% from 2019).

My thoughts…

September was another busy month for Squamish Real Estate. There was an increase in overall listings and sales throughout the month, with detached properties seeing almost 50% more listings in September 2020 as compared to September 2019 and townhouses showing over a 90% increase in sales.

It’s important to keep in mind that this year is performing very differently to most years, due to the pandemic. There continues to be pent-up demand that is showing faster sales across all property types, with an average of 38 days on market in September (-37.7% shorter listing period than 2019). Overall we are still experiencing low inventory throughout all property types, with the following properties and price points being the most sought after:

Detached homes listed below $1,200,000
Townhomes & 1/2 Duplex’s listed below $750,000
Apartments listed below $500,000

If you have any questions relating to the local Squamish market, do not hesitate to reach out.

Katie McLachlan – Katie@myseatosky.com – (604) 213-0833

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