3rd quarter | market update (as of october 1)
Number of sales in Squamish is pacing better than Whistler YTD, only down 15% (347) fewer than 2022 (410), down 44% from 2021 and 11% below the 10 year average (385). Dollar volume YTD in 202 ($378M) is down 20% from 2022 ($475M), 38% from 2021 ($616M) and 16% from the 5 year average ($438M).
Median sales price is down 7% YTD in 2023 compared to 2022 and up 10% from 2021.
number of residential properties in Squamish has increased by 29% since 2018
There has been significant new development in Squamish and quite a number of the new sales are not captured in the sales and listing stats provided in the MLS. It is estimated that another 20-25% more transactions have occurred with a similar increase in dollar volume as well.
Pace of sales in the market in Squamish has been quicker in Squamish than in Whistler in Pemberton on average with just 37 days on market in 2023. List to Sales price has also performed better in Squamish over the past year with 96.4% in 2023 and over 101% in 2021.
The townhouse segment has also been the most consistent in number of sales in the past 3 years while the detach home market has seen the least change in median sale price. Condos/apartments had the most significant drop off in sales volume YTD in 2023.
The average price/square foot for townhomes in 2023 in Squamish ($698) compared to Pemberton ($641) is now closer than at any time in the past 10 years.
Squamish will continue to see the largest growth of the Sea to Sky markets over the next decade with the Ocean Front Development, Sea and Sky, Red Bridge, Finch Drive and several others either completing or coming to market shortly.
Number of sales in Squamish is pacing better than Whistler YTD, only down 15% (347) fewer than 2022 (410), down 44% from 2021 and 11% below the 10 year average (385). Dollar volume YTD in 202 ($378M) is down 20% from 2022 ($475M), 38% from 2021 ($616M) and 16% from the 5 year average ($438M).
Median sales price is down 7% YTD in 2023 compared to 2022 and up 10% from 2021.
number of residential properties in Squamish has increased by 29% since 2018
There has been significant new development in Squamish and quite a number of the new sales are not captured in the sales and listing stats provided in the MLS. It is estimated that another 20-25% more transactions have occurred with a similar increase in dollar volume as well.
Pace of sales in the market in Squamish has been quicker in Squamish than in Whistler in Pemberton on average with just 37 days on market in 2023. List to Sales price has also performed better in Squamish over the past year with 96.4% in 2023 and over 101% in 2021.
The townhouse segment has also been the most consistent in number of sales in the past 3 years while the detach home market has seen the least change in median sale price. Condos/apartments had the most significant drop off in sales volume YTD in 2023.
The average price/square foot for townhomes in 2023 in Squamish ($698) compared to Pemberton ($641) is now closer than at any time in the past 10 years.
Squamish will continue to see the largest growth of the Sea to Sky markets over the next decade with the Ocean Front Development, Sea and Sky, Red Bridge, Finch Drive and several others either completing or coming to market shortly.
