The New Squamish Real Estate Market.....Really???
Yes, the Squamish Real Estate market is very new for 3 main reasons
1. Squamish has detached somewhat from Vancouver. For the longest time, housing prices in Squamish ran parallel to Vancouver and that has now completely de-coupled. The market in Vancouver recently plummeted up to 35% while Squamish fell 6% and over the past 6 months, the Squamish market as a whole has been increasing marginally. This leads us to #2...
2. The Squamish real estate market in and of itself does not move in synchronization. In the past, townhouses would increase in value until they got closer to house prices and then houses would start to climb. The same thing would happen with condos and Townhouses. There was also a strong relationship between Brackendale, Estates, Highlands and Valleycliffe. Recently, we have seen prices in Valleycliffe starting to be on par with Highlands, Estates, and Brackendale. As more an more people discover Squamish, they are starting to realize that each community in Squamish has it's own identity and it's own benefits.
3. The final compnanet fo the New Squamish Real Estate market is the fact that it is now broadly balanced. I say broadly balanced because across the board we have buyer's markets, seller's markets, and balanced markets in equal amounts across Squamish. There are areas in the Squamish Market that are experienced multiple offers and some that have properties that are stuck on the market for over 90 days. Truthfully, it isn't always price.
If you have any questions about this, please let me know.
Have a great day.