January sales were sluggish, to say the least, however activity began to pick up in February. This can be mostly attributed to the launch of a new townhome project, which has significantly influenced this month’s market data, sending the numbers in a new direction and creating results that feel a bit like a pinball machine.⁠ ⁠ 

Single-family home sales remained below normal levels, with only four recorded sales for February. The condo market saw a stronger rebound, with nine sales—an increase of 66% compared to January. The most notable shift occurred in the townhome segment. January saw just six sales, but with the presale launch of Terrain by Polygon last month, sales jumped to 27 units. This surge accounts for the 87% month-over-month increase and reinforces that Squamish continues to attract buyers looking to purchase in the area. It’s also possible that buyers who were unsuccessful in securing one of the presale units shifted their focus to resale properties, which we could see influence next month’s data.⁠ ⁠ 

Listing inventory rose more than usual in January and continued to follow a more traditional pattern in February, increasing by 22% for single-family homes and 12% for condos. The 40% rise in townhouse inventory, again was largely driven by the launch of the Terrain. ⁠ 

Interest rates have remained relatively steady, and the next Bank of Canada rate announcement is scheduled for March 18th. Though other economic indicators continue to fluctuate and create uncertainty in the local real estate market, both buyers and sellers are turning to Black Tusk Realty agents for trusted guidance as they navigate this evolving landscape. With experience managing changing market conditions, our team is well positioned to help clients develop a strategy that aligns with their real estate goals.⁠