Squamish finished off 2009 on a high note
Published Tuesday 26 of January, 2010
The real estate market in Squamish finished off 2009 on a high note. After a very slow start for sales, the last ¼ of the year was back to traditional statistics for sales in the area. The lowest point in this current real estate cycle was in the last three months of 2008, while the beginning of 2009 started slowly there was continuing optimism that things were going to improve. This turned out to be very much the case. Inventory levels continued to come down from the 2008 highs, interest rates remain low and prices were stable in not adjusting down for some housing types.
Both town homes and condominiums were lower in both price and volume of units sold for 2009. There were 79 apartments sold in 2009 versus 94 in 2008 down 16% year over year and prices also fell by 9% from 2008. As for town homes the sale prices were lower by 12% from 2008 and the number of units sold was also down 11% from 116 in 2008 to 103 in 2009. The bright spot was in single family detached homes but in the lower price ranges. The sales volume was up by 15% we sold 185 for 2009 as opposed to 159 for 2008 and the median sales number went from $492,000 to $500,000.
The general consensus for the year ahead is that the market will continue to gain strength. As the demand for single family homes rises the pressure on pricing and inventory will mean that both the town home and apartment sector should benefit from this change. Buyers will once again turn to options for affordability.
