Spring typically brings a rise in Real Estate sales, which was especially true in the Lower Mainland. According to the Vancouver Real Estate Board, March was a record breaking month for sales. The Squamish secret is out and the spin off effects from the Vancouver market can be felt in our community, with more people coming to the region with the dream about living in such a picturesque outdoor lover’s paradise.
Squamish home sales have not seen an increase, due to limited supply to meet the demand. While prices have jumped over 20% just in the last year. Numerous new developments are planned in the region to meet the escalating demands of home buyers.
In 2015, the community experienced a record breaking 755 successful real estate sales. Most of those transactions were for single family resident homes. However, townhomes and apartments also experienced a significant increase in demand. With the real estate market for 2016 already off and running, the projections for sales are expected to rise and beat last year’s numbers. However with so much demand, the prices are at risk of climbing.
Despite the climbing prices, Squamish’s appeal to outdoor enthusiasts continues to drive demand up. Squamish also remains a viable and more affordable home buying option compared to the (insane) real estate prices found in nearby Vancouver.
Upcoming Developments:
Squamish Ocean Front:
This year, the long-anticipated plans for the Squamish Oceanfront Development will see the start of contruction, which will bring much-needed residences and amenities to the community to meet the rising demand.
The Squamish Oceanfront Development promises to be a thriving multi-use ocean-side community. The community will include parks and trials, commercial space that includes a five-star hotel, arts-centre and satellite University campus. Currently, there are plans to create 9000 residential units that will house an estimated 6500 people.
Garibaldi At Squamish:
Garibaldi at Squamish will be a mega all-season ski resort located near Brohm Ridge just north of Squamish. It will provide 5736 housing units that can comfortably accommodate up to 22,000 residents. The resort style living at Garibaldi at Squamish offers 668 hectares of picturesque wildness terrain with 124 ski runs, three gondolas, 18 chairlifts and three lodges on the mountain. The development plans to have three inter-connected Villages featuring 1700 hotel units. The sheer magnitude of the community means that construction will not happen overnight. It is believed that it will take at least 20 years to complete.
Both of these developments will take time to come to fruition. In the meantime, the district of Squamish has over 4000 homes approved for the area, but many of those homes have already pre-sold before construction has started. Those seeking Squamish real estate in the area are encouraged to be patient and talk to a Local Favourite Realtor . With only limited available real estate at this time, the search might take awhile to find the perfect residence, but the wait is worth it to live in such an outdoor paradise as Squamish.
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