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Snapshot
Another solid month in the books for Squamish Real Estate. Surpassing Oct 2016 in almost every category, Oct 2017 seems to have similarities to the strength of Fall/Winter 2015. Dramatically higher sales in Oct 2017 than Oct 2015 in both sales $ and #’s. Interestingly though Oct 2017 had less sales in #’s than Oct 2015, but higher sales in $. Higher YTD sales this year than the past 4 years, lower inventory in all housing types across the board compared to Oct 2016, but similar overall inventory level to this time in 2015.
- Sales $ up on last month and has been the highest performing October in the last 4 years.
- October saw an increase in the number of sales and has been the highest performing month since June, and was much higher than October 2016.
- For most of 2017 the YTD figure has underperformed against 2016, the last two months being fairly strong have now turned that around and the YTD for 2017 is higher than this time last year.
- Sales to active listings = 39% for October 2017, compared to 30% September 2017 and just 14% in October 2016.
- **This ratio is calculating the monthly sales compared to the total # of listings, basically if there were no other listings how long would it take for the listings to run out. At 35% it would take just over 3 months.
- Referencing this statistic: <12% is a buyers market and puts downward pressure on price, between 12%-20% is a balanced market with no pressure on price, >20% is a sellers market with upward pressure on price.
- HPI Benchmark Price:
- Detached: Oct 2017 = $983k, that’s $169k higher than Oct 2016.
- Townhomes: Oct 2017 = $899k, that’s $274k higher than Oct 2016.
- Condos: Oct 2017 = $454k, that’s $97k higher than Oct 2016.
- In the last 30 days 70% of properties in Squamish have sold for under the list price. 7% sold over-asking and 23% sold at the list price.
- We have seen a steady decrease in inventory throughout this year, that pattern continues and October had an inventory of just 173 properties. October last year had a figure of 262!