| November 2018 Stats:
Seasons Greetings from beautiful Squamish BC, here is your Squamish real estate market update!
Sales to active listings ratio=12% for November 2018. Back in November 2017 that figure was 27%.
Breaking that down into property types: Detached =10%, Condos =19% up from 10% in October 2018, Townhomes =16%.
- **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: Nov 2018 = $975k that’s $24k Lower than Nov 2017.
- Townhomes: Nov 2018 = $684k, that’s $19k higher than Nov 2017.
- Condos: Nov 2018 = $475k, that’s $26k higher than Nov 2017.
In the last 30 days: 94% of properties in Squamish sold for under the list price, just 3% sold at asking price and the remaining 3% sold for over ask.
Inventory continues to decline to 249, November 2017 saw a figure of just 168.
Average days on market increased to 74 up from 62 last month. |
