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Sales to active listings ratio= 20% for August 2018, a slight increase from 18% in July 2018. In August 2017, we saw a figure of 34%.
Breaking that down into property types: Detached = 15%, Condos = 35%, Townhomes dropped from 29% in July to 19% in August.
- **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: Aug 2018 = $1M that’s $48.3k higher than Aug 2017.
- Townhomes: Aug 2018 = $709k, that’s $94.5k higher than Aug 2017.
- Condos: Aug 2018 = $513k, that’s 55.8k higher than Aug 2017.
In the last 30 days: 84% of properties in Squamish have sold for under the list price. Just 8% sold over-asking and 8% sold at the list price.
Inventory continued to decline with a figure of 252 but this is still higher than Aug 2017 which saw a figure of just 190.
Average days on market increased slightly from 44 in July to 55 in August.