Well summer is here, and although you wouldn’t notice it by the weather, the real estate market is showing typical signs of summertime as it quiets down compared to the bustling months of March, April and May. Although some indicators are showing the market quieting; compared to other summers, we are still way ahead of pace. So far in July we have already seen 45 new listings come on the market, 23 sales and 13 price changes.
When the kids get out of school and people head off on their summer holidays, the real estate market in Squamish historically takes a breather. This June appears to be no different. For all property types the overall inventory climbed slightly, new listings dipped compared to previous months and sales went from 95 in May to 57 in June. Days on the market also increased from 11 in April, 15 in May and 22 in June. Sales prices continued to steadily increase in the month of June.
The detached home market saw the greatest fluctuations from months prior. Sales in June halved from 40 in May to only 20. Days on the market crept up slightly in this category and the sales price remained the same. The average sales price of a detached home in June was $887,500 a whopping $221,500 more than the same time last year.
In development news the Ravenswood Development off Loggers Lane opened their show home and announced pricing. The three and four bedroom homes will start at $820,000 and already the first release has sold out. Arbutus Grove is another new development consisting of 11 luxurious, three bedroom townhomes just outside of downtown Squamish. Stay up to date with the latest development news at MovetoSquamish.ca
Now is still an excellent time to sell your home and may also be an ideal time for buyers as the market hype may have settled briefly due to summer holidays. Contact me today and let’s discuss your real estate goals and objectives this summer.