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Market Report

The 2011 Year in Review

Unfortunately, the real estate market in Squamish for 2011 did not contain many high points but at least the low points were not much below sales activity and prices from 2010.

The area of the market that continues to feel the largest decrease in both price and sales volume is the apartments. This is due largely to the oversupply that occurred from 2007 through to 2009 due to the bankruptcy of the largest developments, which was finally completed earlier this year. There has been a drop of 40% in transactions for the re-sale of apartments in 2011 and in prices by 7% from 2010, which was also down substantially in 2009. The bright spot is that apartments are back on the market at market-adjusted prices and have been selling. As this supply is absorbed into the inventory, prices should stabilize and the value for existing apartment stock should increase.

Town homes also felt continued downward pressure during 2011 with a decrease in price from 2010 by 4% and a lower sales volume by 11%. With the wide variety of location, size and style of town house available in the Squamish area, it is expected that this market will also see an increase in volume as we move into 2012 because it remains an affordable housing option for locals and is very attractive to buyers from the Lower Mainland.

The other area of the housing market is single-family homes. This segment saw an 8% increase in units sold in 2011 from the preceding year but there was a slight 2% decrease in median prices. These statistics would indicate that this area of the market is at least seeing stabilization and balance.

Another noteworthy trend that we saw in 2011 was that more buyers are coming from areas other than Squamish. The affordability factor when compared with most areas of the Lower Mainland, Maple Ridge still being the exception as prices in that community remain equal to if not lower than Squamish, is causing purchasers to take the drive up the Sea-to-Sky highway to have a look.

So, with cautious optimism, we look to 2012 to be better than 2011 but affordability will be key. Sellers will need to be aggressive when pricing. Buyers still appear to hold the upper hand but are seeing value in the marketplace and are thus more inclined to make the purchase.

Squamish Tips from the Insiders

In a town that blends small town rustic charm with all the amenities, culture and every activities you can think of it can be hard to decide what to do and where to go. Here are a few tips to help you next time you are looking for something to do.

  • The Nest for eggs benny is unreal on a lazy Sunday winter morning - Jay Gould
  • The Brandywine is a great place for snowmobiling - Dawn Mortensen
  • Take a walk along the dyke in Brackendale or Fergie's and you are sure to see some eagles - Lisa Ames
  • For a night of fine dining, The Livingroom is the place to be - Eleanor McKenzie
  • Take a walk up the viewpoint to the top of Jack's Trail just up Thunderbird Road - Jay Gould
  • Stop by Bean Around the World Brackendale for a hot chocolate - Dawn Mortensen
  • Check out Fawn Lake for some lake skating - Eleanore McKenzie
  • The Callaghan at night is the best place and time to go for a cross-country ski - Lisa Ames
  • Have breakfast at the Brackendale Bistro, lunch at Chef Big “D”s and the Watershed Dinner or Pepe and Gringo’s (probably not all in one day) - Dawn Mortensen
  • The best coffee can be found at Naked Lunch (Galilleo's) - Eleanor McKenzie
  • Read Heather / Elfin Lakes are the best back-country areas - Dawn Mortensen
  • The best place for a walk with your four-legged friend is along the Alice Lake Loop - Lisa Ames
  • Sushi Sen is the best place in town for sushi - Eleanore McKenzie
  • The Squamish Valley Golf Course trails are a great place to spot some Eagles - Jay Gould
  • If you are a runner, the Ray Peters Trail is the best trail for a trail run - Eleanor McKenzie
  • The best view in town is Mount Garibaldi Peak against a clear blue ski - Eleanor McKenzie

Read Heather and Elfin Lake Hut in the Winter

Right Out Your Back Door

Elfinhut

Road - The trailhead is 16 kilometers from Highway 99. The road climbs to approximately 3,100 feet from near sea level. The road is sometimes plowed so the use of 4 wheel drive or chains may be necessary. Sometimes the final portion of the road is impassable and some initial walking may be required.

Trail - From the end of the road, the trail climbs 5 kilometers along a road in the summer but in the winter, the trail is more like a luge track under the right conditions.

After the trek, you arrive at the warming hut at Read Heather Meadows where there is no overnight camping. From the hut it is another 6 kilometers to the cabin at Elfin Lakes. The trail climbs to about 5,130 feet to the high point on Paul Ridge and then drops gradually 500 feet to the Elfin Lakes. The travel time to the Elfin Lakes Shelter can vary greatly depending on snow conditions and group abilities. For a one-way trip, this can take anywhere from 2.5 hours in the summer to 6 hours or longer in the winter on snowshoes.

Equipment - When carrying an overnight pack while ascending and descending steeper, longer slopes and traveling in ungroomed snow, heavier ski gear (with skins) or snowshoes are required. Varied snow conditions may be encountered - fresh powder, corn snow, crust or icy conditions are all possible at this time of year. The cabin at Elfin lakes sleeps approximately 30 people and the cost is $10 per person per night. There are stoves for cooking and heating but sleeping bags and sleeping pads are not provided so make sure to pack your own.

The reward is amazing. You will be exhausted, but the views and the accomplishment will energize you so it is definitely worth the trip.

Counting Eagles?

The 26th annual Brackendale Bald Eagle count occurred on January 8th. Trained counters assembled at the Brackendale Art Gallery and trekked out to 17 designated areas to count eagles. The tally this year totaled 655, slightly more than last year. This is the 26th year of the Brackendale Eagle Count. It is the longest running count of its kind in the world. The Brackendale Winter Eagle Festival consists of a series of lectures, concerts, art displays and more at the BAG. Visit www.brackendaleartgallery.com for more information and a full schedule.

There is a viewing area on Government Road across from the Easter Seal Camp. From this viewing location, there is a kiosk with a plentitude of information about the migration of eagles to the Squamish area due to the chum salmon run up the rivers.