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Sales to active listings ratio=21% for March 2019. That figure increased from 17% last month, pushing Squamish into a seller’s market.
Breaking that down into property types: Detached =13%, Condos =24% this was a big increase on last month’s figure of just 9%, Townhomes increased slightly to 44%.
- **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: March 2019 = $980k that’s almost $23k lower than March 2018.
- Townhomes: March 2019 = $655k, that’s $41k lower than March 2018.
- Condos: March 2019 = $469k, that’s $22k lower than March 2018.
In the last 30 days: 88% of properties in Squamish sold for under the list price, 6% of properties sold at list price and 6% sold over ask.
Inventory continued to increase to 230, In March 2018 we saw a figure of just 172.
Average days on market decreased slightly to 70, but still remains a lot higher than March 2018 which saw an average of just 33 days on market.