As they say, “the numbers are in the books”. The first 10 months of listing and sales data for the Squamish Real Estate market have now been recorded.
When looking at all the different stats there was only one area that saw an actual decease in numbers from 2014 to 2015. This was the number of single family homes listed this year.
In 2014 there were 373 active listings, with a sale to listing ratio of 64%. This year there were 363 listings with an 81% chance of selling, representing a 2% decrease in units listed.
In the other two major sectors, town homes and apartments, listing inventory was up substantially. Town homes increased by 21% with an 80% sale to listing ratio, while the number of apartment units listed was up 18% with an 85% chance of selling in the current market.
So the next biggest question is what has happened to prices, as demand has been high and inventory has remained low?
One indicator is the median selling price, which gives a good general guide for what prices have been doing. There will always be certain housing types that may be more in demand and neighbourhoods with more appeal, so this is where working with your Realtor becomes crucial to helping you when both listing and purchasing.
Median prices show that single family homes are up by 18%, town homes by 14% and apartments have also risen by 18% year over year.
Increased sales activity
Overall activity is also up with total sales this year at 646 when this time last year it was 479. This represents a 26% increase year on year. This is broken down to a 19% increase for single family homes, 27% for town homes and with the largest jump, apartments with an increase of 38%.
So it would appear as long as inventory stays low, with demand showing no signs of slowing down, there could be ever increasing adjustments in pricing with sellers in command of the market.