The Squamish secret is officially out! This summer our community has reached record breaking levels of visitors, with many people being drawn here to enjoy the outdoor recreation mecca that some of us already call home. With more and more people stopping in to visit and enjoy our community, we are naturally attracting more people who want to make the permanent move to our coastal mountain town. So what does that mean for our real estate market? Enjoy our Squamish Real Estate update, for those who are moving here for the lifestyle!
Squamish is currently experiencing one of the most active real estate markets in the last 7 years. Here is our overview and interpretation of the latest Squamish Real Estate market conditions based on statics originally published by Black Tusk Realty.
Single Family Homes:
- Squamish has experienced a 23% increase in sales of single family homes
- Home price index has risen by about 10%, while the number of homes listed remains relatively unchanged.
Townhomes:
- The amount of units sold has doubled from last year, with a 7% increase in price.
- Townhomes are the most active area of the current housing market
Apartments:
- Apartment sales are starting to see strength again, although the price increase is only 2.9%
The active market for town homes is a sign that Squamish is attracting more and more young families who are looking to move here for the lifestyle. Townhomes are great options for young active families who want a bit less maintenance and realize that the mountains around Squamish provide the best backyard playground.
Tips for Sellers:
This is a hot active market, with prices moving upward for over a year. Buyers are aware of the market and are not responding to overpriced listings as fast. Having a properly priced home will result in a fast sale.
Tips for Buyers:
We are in the middle of a market with a low inventory. This means buyers need to be ready to make a quick decision if they find a home that they like paying close to full asking price, with multiple offers is common in the current Squamish Real Estate Market.
We are currently experiencing a housing shortage in our community as the demand for homes is not being met by the supply. There are new home developments that will be built in Squamish over the next few years, which will help increase the supply. However, as more and more people from Vancouver discover the awesome Squamish lifestyle the question will be can the supply meet the growing demand?
For more information on the Squamish Real Estate market or to talk buying or selling, contact one of Our Local Favorite Realtors here.
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