Squamish has seen an increase in development but demand is far out weighing supply in the condo and townhome markets.
Whats been happening…
– Over the month of February the average selling price for a condo was $488,100 and $848,600 for a townhome. These year over year price increases are an astounding 32% and 16% respectively
-Benchmark prices continue to rise, up 21.4% for condos and 6.8% for townhomes over a 6-month period
– Investors are flocking to Squamish as a less expensive alternative to Metro Vancouver
-The rental vacancy rate remains low due to limited supply
-Demand for rentals in Squamish is strong as renters seek a break on monthly costs for newer units found in Whistler or Greater Vancouver while still being in close proximity (45 minutes to either Vancouver or Whistler) and the convenience of an outdoor playground in their backyard
– Inventory is being bought up quickly, sales to listings of condos at 95%, sales to listings of townhomes at 80%
If you own a townhouse or condo in Squamish
Now could be a really good time to consider the move to a single family home. Percentage wise, the gap has never been this small. As mentioned, the strong sellers market and move to a buyers market in Single Family homes is really in your favour. Message me if you want to see the stats in detail, and plan how easy it could be to make the jump !