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Sales to active listings ratio=11% for January 2019. That figure has increased from 7% last month just pushing Squamish back into a balanced market.
Breaking that down into property types: Detached =8%, Condos =15% up from 6% in December 2018, & Townhomes =17% a good increase from last month’s 6%.
- **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 buyer’s market and puts downward pressure on price, between 12%-20% is a balanced market with no pressure on price, >20% is a seller’s market with upward pressure on price.
HPI Benchmark Price:
- Detached: Jan 2019 = $983k that’s $18k lower than Jan 2018.
- Townhomes: Jan 2019 = $661k, that’s $4k higher than Jan 2018.
- Condos: Jan 2019 = $468k, that’s $22k lower than Jan 2018.
In the last 30 days: 88% of properties in Squamish sold for under the list price, last month that figure was 100%! 9% of properties sold at list price and 3% sold over ask.
Inventory increased slightly to 215, and still remains higher than Jan 2018 when we saw a figure of just 157.
Average days on market was 67, in Jan 2018 that figure was 28 Days.