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Sales to active listings ratio =19% for May 2019, just pushing Squamish into the high end of a balanced market.
Breaking that down into property types: Detached =17%, Condos =14%, and Townhomes increased to 29% up from 18% in April.
- **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: May 2019 = $947k that’s almost $62k lower than May 2018.
- Townhomes: May 2019 = $694k, that’s $56k lower than May 2018.
- Condos: May 2019 = $506k, that’s $7k higher than May 2018.
In the last 30 days: 85% of properties in Squamish sold for under the list price, 7.5% of properties sold at list price and 7.5% sold over ask.
Inventory dropped slightly to 226, In May 2018 he inventory sat at 260.
Average days on market decreased to 52.