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Squamish Update


Blog by Jennifer Sale | March 22nd, 2008


The year has started out fairly strong in Squamish considering January is usually not the most active month of the year. A lot of people are still arriving back home from extended holidays and getting back into their routine. There have however been steady sales for both January and February. This period was comparable to the same time in 2007 with the exception of prices which are higher this year.

 

January & February Sales

                                            2007                                                 2008

Detached                             33                                                        29

Avg. Days on Market          86                                                        62

Average Price                     $445,000                                           $497,000

                        

Attached                              51                                                        45 Avg. Days on Market          58                                                        53

Average Price                     $305,000                                           $342,500

Land                                     6                                                          5

Avg. Days on Market          188                                                    814

Average Price                     $231,000                                           $292,000

The highest sale prices for each category were: detached ~ $848,000 attached ~ $625,000 and vacant land ~ $385,000. For detached home sales the busiest neighbourhoods were Valleycliffe & Brackendale with 9 sales each followed by Dentville with 5 sales. Only one detached home sold in Garibaldi Highlands. The average prices were: Valleycliffe ~ $519,000, Brackendale ~ $565,000, Garibaldi Highlands ~ $770,000, Garibaldi Estates ~ $497,000, Downtown ~ $270,000 & Dentville ~ $452,000. For attached sales the neighbourhoods with the highest number of sales were: Garibaldi Estates ~ 14 with an average sale price of $368,000, Downtown ~ 17 with an average sale price of $343,000 & Valleycliffe ~ 7 sales with an average sale price of $253,000.

 

Spring is in the air and we will most likely soon see more for sale signs planted in lawns.

Typically spring is the busiest market of the year for numerous reasons. Sellers want their property to show its best and with more daylight & sunshine both gardens and interiors are more appealing. It is a time of year that most people feel optimistic about after a long and usually wet winter and are restless for a change. With an average closing of 30-90 days from the time of an offer, families buying and selling in the spring have time to move during the summer break and get settled in their new home prior to school starting in September. When summer comes around most people are thinking more about taking time off and enjoying the good weather while we have it rather than house hunting.

 

With prime rate recently reduced to 5.25% and fixed term rates available under 6% the monthly payments for Buyers has decreased widening their options. If you are thinking about buying or selling this spring feel free to contact me for more information on the current market and what it has to offer you.