Fall Market Update

Squamish

In August 2018, there were 22 sales of detached homes and 151 active listings in Squamish. The benchmark sale price was $1,000,500 with an average days on market of 80.

The condo market had 16 sales and 46 active listings at the end of the month.  The benchmark sale price was $513,400 with an average days on market of 40.

Townhome sales were 8 sales, active listings were 42. The benchmark sale price was $709,100 and the average days on market were 25.

It’s a seller’s market for condos.

 

MarketHotSheet_August_2018_Squamish

The Local Housing Market

Whether you are buying or selling real estate, it is important to know the state of the local housing market. This way, each side knows where the advantages lie. For sellers, the market is at its best when there are fewer homes up for grabs. Less competition makes for an easier time getting your property viewed by the right individuals. On the flip-side, buyers will find top deals when there is a saturation of listings. When sellers are competing for your business, you end up the winner!

The housing market can give us a list of relevant information, such as: the number of homes for sale, the average selling price for real estate in the area, and the amount of homes sold during a specific period of time. With this data, both buyers and sellers can formulate a strategy on when to make a move. Perhaps more homes are sold during the summer. Maybe the average cost is lowest at the beginning of the year. Whatever the housing market shows, it is important to take the information into consideration.

If you would like some current statistics on the housing market in your neighbourhood, please contact me or sign up to receive my monthly email newsletter.