Squamish Real Estate Update – October 2018

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October 2018 Stats:

Sales to active listings ratio= 13% for October 2018, up from just 8% in September. In October 2017, we saw a figure of 37%.
Breaking that down into property types: Detached = 11%, Condos = 10%, Townhomes increased from 5% in Sept to 19% for October.

  • **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: Oct 2018 = $968k that’s $1.5k Lower than Oct 2017.
  • Townhomes: Oct 2018 = $725k, that’s $59k higher than Oct 2017.
  • Condos: Oct 2018 = $487k, that’s $33k higher than Oct 2017.

In the last 30 days: 85% of properties in Squamish sold for under the list price, last month that figure was 100%! 11% sold at asking price and just 4% sold for over ask.
Inventory decreased slightly to 263. October 2017 saw a figure of just 183.
Average days on market for October 2018 was 62.