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Sales to active listings ratio= 15% for June 2018, compared to 23% May 2018 and 31% in June 2017.
With an overall figure of 15% Squamish has entered a balanced market for the first time this year. Breaking that down into property types: Detached = 7%, Condos = 27%, + Townhomes = 33%.
- **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.
- 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: June 2018 = $1M that’s $92k higher than June 2017.
- Townhomes: June 2018 = $900k, that’s $219k higher than June 2017.
- Condos: June 2018 = $530k, that’s $116k higher than June 2017.
In the last 30 days: 82% of properties in Squamish have sold for under the list price last month that figure was 70%! 10% sold over-asking and just 8% sold at the list price.
Inventory continues to increase and sat at 260 for the month of June, it was just 215 in June 2017.
Days on market has increased from 23 days in May to 44 days in June.