With January in the books, here is a quick look at how the year has begun for real estate in Squamish. While you may be hearing in the news that sales are down, that is not always the case in each area. Squamish is not the Lower Mainland and while what is happening in other areas may have an impact on our local market, it is not the only determining factor for market behaviour locally.
With that said, yes, sales volume is lower overall as compared to 2017 through 2018 but we sold a few more units in Squamish in January 2019 compared to January of 2018. Prices are down ever so slightly from last year but inventory has not risen drastically which would suggest that we are not yet looking at any major corrections. Of course, this may change as we head into spring when listings historically come to the market. Time will tell. As of now, buyers are not feeling the same sense of urgency so days on market have risen and pricing strategy must be the main focus for a successful sale.
Whether buying or selling, working with a full-time, knowledgeable, local Realtor who knows what is happening in Squamish will give you your best chance for success in your real estate transactions.