Katie McLachlan Market Update Squamish

Here we are in June already – how are we half way through the year? Insanity.

OK, back to real estate… generally speaking, we saw a slight drop off in sales volume, sales price and inventory throughout the month of May. I also saw a few reduced prices (which I haven’t seen in 2021) and properties sitting on the market a little longer than March and April. That being said, the year-over-year statistics still show a very successful month for Squamish Real Estate with 31%, 38% and 17% increases for detached properties, townhomes/duplexes and condominiums in Squamish.

As always, here are the numbers for May. First with an overview of Squamish as a whole, and then broken up by property type.

SQUAMISH – ALL PROPERTY TYPES
Average Sold Price: $1,011,245 (+16.6% Y-O-Y)
New Listings: 113 (+46.8% Y-O-Y)
New Sales: 91 (+313.6% Y-O-Y)
Average Days on Market: 14 (-64.1% Y-O-Y)
Absorption Rate: 63% (+554.2% Y-O-Y)

SQUAMISH – DETACHED HOMES
Average Sold Price: $1,441,652 (+31.6% Y-O-Y)
New Listings: 43 (+19.4% Y-O-Y)
New Sales: 33 (+175% Y-O-Y)
Average Days on Market: 14 (-75% Y-O-Y)
Absorption Rate: 46% (+291.5% Y-O-Y)

SQUAMISH – TOWNHOMES
Average Sold Price: $945,852 (+38% Y-O-Y)
New Listings: 37 (+131.3% Y-O-Y)
New Sales: 23 (+360% Y-O-Y)
Days on Market: 8 (-60% Y-O-Y)
Absorption Rate: 70% (+500.9% Y-O-Y)

SQUAMISH – CONDOMINIUMS
Average Sold Price: $530,989 (+17.2% Y-O-Y)
New Listings: 27 (+28.6% Y-O-Y)
New Sales: 28 (+600% Y-O-Y)
Days on Market: 19 (-13.6% Y-O-Y)
Absorption Rate: 84% (+1,530.8% Y-O-Y)

It’s worth noting that townhomes in Squamish have seen monthly increases in the average sale price since the start of the year. Here is a monthly overview for the last 5 months:
January: $743,825,
February: $833,161,
March: $899,763,
April: $906,679,
May: $945,852

That shows a HUGE $200,000 increase in the average sold price of a townhome in Squamish since January. Keep in mind, this does not mean that every townhome in Squamish is worth $200,000 more today than it was at the start of the year (although, there has been significant increases across the board). The average sold price is determined by the kind of inventory that sold throughout the month. For instance, there have been newer & more expensive townhouse products selling recently like the TarsemHaus, Newport, SEAandSKY and SEVEN Peaks which drives up the average sold price for the townhouse category.

Want to better understand your homes value? Let’s chat.

april market update

Another busy month was had in April – which saw a huge 51.2%, 31.5% and 38.7% increase in average sold price year over year for detached properties, townhomes/duplexes and condominiums in Squamish.
As always, here are the numbers. First with a wholistic overview of Squamish as a whole, and then broken up by property category.

SQUAMISH AS A WHOLE
Average Sold Price: $1,018, 858 (+20.7% Y-O-Y)
New Listings: 121 (+108.6% Y-O-Y)
New Sales: 94 (+370% Y-O-Y)

SQUAMISH DETACHED HOMES
Average Sold Price: $1,602,703 (+51.2% Y-O-Y)
New Listings: 50 (+194.1% Y-O-Y)
New Sales: 30 (+200% Y-O-Y)

SQUAMISH TOWNHOMES
Average Sold Price: $906, 679 (+31.5% Y-O-Y)
New Listings: 34 (+112.5% Y-O-Y)
New Sales: 25 (+316.7% Y-O-Y)

SQUAMISH CONDOMINIUMS
Average Sold Price: $601,789 (+38.7% Y-O-Y)
New Listings: 30 (+25% Y-O-Y)
New Sales: 35 (+1,066.7% Y-O-Y)

If you have any specific questions regarding neighbourhood stats, let me know. I am here to help!

Squamish homes

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Squamish Real Estate AGent - Katie Mclachlan Remax

HELLO SPRING!

And hello to the continuing market demand in Squamish. Honestly, Squamish is arguably one of the most sought after areas in the province currently. This is especially been made true through the COVID-19 pandemic, which has really put a spotlight on what locals have known for a long time; that Squamish has an unapparelled experience. Just 45 minutes in each direction you will find BC’s most desirable travel locations, Whistler and Vancouver, a plethora of outdoor activities from mild to wild and an ever-expanding downtown core with exciting eateries and boutique shopping. Squamish brings mountain and ocean living together in an outstanding way. #Squamishisawesome

The pre-build opportunities available in Squamish continue to push the bar higher for what you can expect in condominium living – stay tuned for more information about Redbridge & Oceanfront Squamish coming this month.

Now before I get carried away with this months numbers, keep in mind that March 2020 was a weird one – we had half a month of strong sales and the other half was the introduction of the COVID-19 pandemic and the various new restrictions which saw a lot of change in our market. So maybe looking back at the increases / decreases in year-over-year sales isn’t the most accurate in this case, however, the numbers of March 2021 sales do not lie – THINGS ARE CONTINUING TO RISE. Now let’s get into the numbers for March 2021…

SQUAMISH OVERVIEW
Average Sales Price: $1,097,745 | +39.7%
Average Days on Market: 25 | -24.2%
New Listings: 142 | +67.1%
New Sales: 101 | +188.6%

DETACHED HOMES
Average Sales Price: $1,538,720 | +64.3%
Average Days on Market: 30 | +11.1%
New Listings: 55 | +41.0%
New Sales: 46 | +155.6%

TOWNHOMES
Average Sales Price: $899,763 | +22.7%
Average Days on Market: 8 | -69.2%
New Listings: 35 | +75.0%
New Sales: 24 | +166.7%

CONDOMINIUM/APARTMENTS
Average Sales Price: $536,728 | +6.2%
Average Days on Market: 32 | -23.8%
New Listings: 46 | +84.0%
New Sales: 27 | +285.7%

STAY TUNED FOR APRIL 2021 MARKET UPDATE NEXT MONTH.