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Sales to active listings ratio=17% for April 2019, dropping slightly from 21% in March pushing Squamish back into a balanced market.
Breaking that down into property types: Detached =19%, Condos =14% last month they were sitting at 24%, Townhomes dropped to 18% down from a high of 41%.
- **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: April 2019 = $986k that’s almost $41k lower than April 2018.
- Townhomes: April 2019 = $674k, that’s $33k lower than April 2018.
- Condos: April 2019 = $491k, that’s $53k lower than April 2018.
In the last 30 days: 91% of properties in Squamish sold for under the list price, 2% of properties sold at list price and 7% sold over ask.
Inventory continued to increase to 238, In April 2018 we saw a figure of 215.
Average days on market increased to 89.