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Sales to active listings ratio=7% for December 2018. That figure has dropped from 12% last month and 37% in Dec 2017, putting Squamish into a buyers’ market!
Breaking that down into property types: Detached =7%, Condos =6% down from 19% in November 2018, & Townhomes =7%.
- **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: Dec 2018 = $975k that’s $47k lower than Dec 2017.
- Townhomes: Dec 2018 = $666k, that’s $2.5k higher than Dec 2017.
- Condos: Dec 2018 = $455k, that’s $9k lower than Dec 2017.
In the last 30 days:100% of properties in Squamish sold for under the list price!
Inventory continues to decline to 205, but still remains higher than December 2017 when we saw a figure of just 116.
Average days on market dropped to 64 down from 74 last month.