Nanci Fulton : Blog : Latest Blog Posts

7 Squamish Real Estate Stats That Will Make You Want to Sell this Spring

Tue, 16 Jan 2018 20:15:00 GMT

The spring selling season is about to begin! Many sellers are wondering if 2018 will present the same strong selling conditions that we have seen in recent years. Our answer is a resounding YES! The buyer activity in Squamish is only being tempered by the lack of listings on the market. Squamish is booming and homes like yours are in top demand! Here are 7 Squamish Real Estate Stats that will make you want to sell this spring and why we are your Squamish real estate team of choice.

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1. Since the beginning of 2015 the average detached home price has gone up 82 percent, the average townhome has risen 99 percent and the average condo price has increased 76 percent

This is a whole lot of additional equity in your home if you owned before 2015, and even if you bought afterwards, prices have continued this upwards trajectory even in the last 12 months. For the average single-family home this means an increase of $457,207, $419,500 for townhome owners, and $201,400 for condo owners.

2. Homes attract stronger sales prices during the spring selling season

Spring is the selling season. If you’re looking to get maximum price for your home, then it’s best to sell it between March and June. The percentage of original price is a ratio used to determine the percentage of the original list price which a home sells for. Looking at historic data for Squamish, this ratio is right around 100 percent between the March and June period for the last three years. Meaning most homes sold right around asking price.

3. There are nearly 50 percent more sales in spring

In Spring 2017 there were 316 home sales in Squamish between March and June, the four-month period between September and December saw about half of that. One obvious reason is more people list their homes in spring, but buyers know that spring is the time to buy and this is when the majority of the activity happens in the market.

4. The average days on market in spring is less

If you’re looking to sell your home quickly and for the most amount of money, spring is the season to sell. Last year the average days on market (DOM) during spring was 24. That’s less than a month of having your home for sale before a deal completes. Fast forward to winter and you’re looking at 30+ days on average to sell. The longer a home stays on the market, the less it appeals to buyers and the more likely a price drop or a low offer will come in

5. Interest Rates are on the rise

Although interest rates are still historically very low, they are on the increase, and this could impact property prices in the medium to long term. Only yesterday (January 17th) the Bank of Canada raised rates by another .25 percent. With the Bank of Canada projecting continued inflation and rate rises over the next few years, the impact on buyers and property prices is unknown. What is known is currently there is tremendous demand for Squamish property and prices haven’t taken a hit by the recent rate changes yet.

6. Buyer’s are most active in Spring

Property sales are one metric that proves this but when we look at page view data from our buyer’s website www.movetosquamish.ca it’s clear that there is peak traffic of interested buyers during the spring selling season.

7. It’s a solid seller’s market in Spring

The sales/active ratio or market absorption rate is one indicator of the type of real estate market present. According to this ratio anything above 20 percent is a seller’s market, anything below 12 percent is a buyer’s market and anything in between the two is considered a balanced market. For the last three years this ratio has been greater than .30 percent during the spring selling season (it went up to .47 last May) meaning the market is substantially in favour of sellers this time of the year.

These stats support the fact that spring really is the time to sell in Squamish, and after three stellar spring seasons in a row, some sellers are wondering if 2018 will bring the same favourable conditions. If you’ve been wondering if you should sell this Spring, here are 7 reasons why it is time to do so. Favourable selling conditions like this won’t last forever but they are here right now, if selling is something you’re considering then please reach out, it’s time to pre-jump the spring market and begin the process of selling your home!

How do I begin the process of selling?

- First, we will do a free market evaluation of your home to give you a ballpark range of what your home may be worth in the current market

- We will then (if we haven’t yet) meet you first-hand and discuss your unique position, goals and objectives when selling, and to make sure we are a good fit for your needs

- Next, we will develop a custom marketing strategy for your property. This will consider your unique position, goals and objectives, market conditions and unique features of your home.

- Now it’s time to get your listing live. We will create marketing materials to promote your property, and leverage our extensive marketing and technology networks skills to launch your home with the biggest market impact possible.

- During the period when your home is for sale, let my 30 years of Squamish real estate experience work for you, while at the same time Meghan’s expert marketing skills will expose your home to the most buyers possible through our own website Move to Squamish, as well as multiple other on and offline channels.

FOR A FREE NO-OBLIGATION MARKET EVALUATION OF YOUR SQUAMISH HOME- CLICK HERE

To learn more about our dynamic real estate team combining top-selling local real estate experience, the most recognized real estate brand in the world RE/MAX, and cutting-edge digital marketing expertise GET A FREE MARKET EVALUATION OF YOUR HOME and let’s begin the process.

December Market Update- 5 Things to Watch for in 2018

Wed, 13 Dec 2017 22:07:14 GMT

As we coast into the end of 2017 and as real estate moves into its traditional holiday slumber, many people are questioning what the market will do in 2018 off the back of several big announcements and conditions that will likely affect the real estate industry throughout BC and the rest of Canada. Here in BC we will see the end of limited dual agency, a situation where an agent represents the buyer and the seller in a transaction. Interest rates are expected to continue rising in 2018 and the new stress test on un-insured loans will affect affordability of people with substantial down payments. Affordability will continue to be a trending topic in the new year as we see an evolution towards smaller living becoming the norm.

Despite many big changes next year, Vancouver is still forecasted to have the strongest market in Canada with a 2.5 percent growth rate expected in 2018 according to the Conference Board of Canada (CBoC). If you’ve been pondering what the Squamish market will do next year, here are five things to watch for in 2018.

1. End of Limited Dual Agency

The new superintendent of real estate announced in September the end of limited dual agency as of January 2018. Dual agency is defined by the real estate council of BC as, “where a brokerage, acting under brokerage agency, acts both for the buyer/tenant and for the seller/landlord, with their agreement, the nature of the relationship created by contract is one of limited dual agency.”

Due to the potential conflict of interest that can arise from this situation this type of agency relationship will no longer be allowed in 2018. Michael Noseworthy, BC’s superintendent of real estate said in a media release on the topic, ““These rules will significantly change the way that real estate services are provided in British Columbia. … Ending dual agency removes the potential for conflict and serious problems. We want to create transparency for both consumers and licensees to ensure everyone understands in whose interest licensees must be working.”

2. Rising Interest Rates

Interest rates have been raised by the Federal Reserve Bank three times in the last quarter of 2017 with more rate increases expected in 2018 and 2019. After enjoying nearly a decade of historically low interest rates, these marginally higher rates can feel like a bit of a shock. According to CBC the rate outlook for the coming years has remained unchanged expect about three more rate hikes in 2018 and 2019 before a long-run 2.8 percent rate is reached.

Although there was some initial panic about rising interest rates in the real estate industry the sentiment now seems to be expectant with a realization that interest rates are still very low, much lower than previous generations have seen and experienced. It is doubtful that the rate rises to come in 2018 and 2019 will negatively affect the real estate industry, and those concerned about how rising interest rates could affect their loan or mortgage affordability should consult with their lender or mortgage broker for more info.

3. New Stress Test on Uninsured Loans

As of January 1^st, 2018, borrowers of uninsured loans will need to qualify at the Bank of Canada benchmark rate, or about two points higher than posted mortgage rate. This new stress test will come into place to ensure borrowers are able to afford their loans as we enter a period of rising interest rates and as housing debt is at high levels throughout the province. The new stress test won’t apply to mortgage renewals if borrowers stay with their current lender and will only be mandatorily enforced for federally regulated lenders. For more information on the new stress test and how it could affect the local market see here.

4. Affordability a Trending Topic

Housing affordability will continue to be a trending topic in 2018 as governments around the province work hard to find solutions to the escalating home prices in BC. Although the market is expected to steady in 2018, prices will continue to rise as new inventory becomes a priority along with new housing models that offer below market rents and opportunities for new buyers to enter the market.

We will continue to see an influx of buyers in Squamish who are fleeing the Lower Mainland in search of more affordable housing. This will continue to push up prices here in Squamish as we’ve seen over the last few years. Expect sustained demand at the lower end of the market (condos and townhomes) as young buyers seek affordable living here in Squamish.

5. Condos and Townhomes will continue to sell as smaller living gains appeal

The forecast for the condominium market in 2018 according to Price Waterhouse Cooper is that it will perform the best in the year to come. Attracting young professionals with a live-work-play lifestyle and retiring boomers looking to downsize, both ends of the market are now seeking a condo lifestyle. Single family residential will still see growth in 2018 however affordability is affecting British Columbian’s ability to buy new homes. A norm throughout Canada is the construction of multi-family over single family with two thirds of all new homes built today being multi-family while in the mid 2000’s this style of housing made up less than half of new construction.

If you have any questions about the real estate market coming into the New Year, are wondering if now is the time to sell, or are hoping to buy into the Squamish market we’d love to chat. With 30 years of experience in the local real estate market we are always happy to chat real estate and answer any questions that you have, contact us today.

Market Update November - Winter Real Estate Trends in Squamish

Thu, 16 Nov 2017 19:54:23 GMT

The days are clearly getting shorter and darker, it’s hard to ignore we are heading into winter and what’s typically the slowest real estate season in Squamish. Despite real estate activity slowing down in winter, it actually proves to be a good time of year to buy and sell, depending on your position and what forecasts you listen to about the year to come.

As I discussed in last month’s market update, as of January 1^st a new stress test comes into affect which will require borrowers of uninsured mortgages (mortgages with more than 20 percent down-payment) to qualify at higher rates. This will affect affordability and could possibly slow down the real estate market this spring.

The changes could actually have an opposite affect in Squamish, as buyers in Vancouver are now unable to afford what they were in 2017, thus seeking more affordable options nearby. Regardless of what happens in the New Year, there are some trends that characterize the winter real estate market here in Squamish, and what makes it an ideal time to buy or sell despite the stigma of a slow period. Here they are…

Sales slow in December and January

January is historically the slowest month of the year for sales, followed by December. The market picks up quickly in February so January is a great month to get the home ready for sale, and listed for the Spring market.

New listings taper off before Christmas

December is traditionally the slowest month for new listings on the market, for buyers this means not a lot of activity however when something does get listed it tends to get a lot of attention, and properties that have been on the market all Fall can often be negotiated down in price. Sellers may not need to compete with flurries of new listings this time of the year, and new listings are often met with eager and qualified buyers (especially this year, with many buyers worried about what the new stress test and what it will do to affordability come January).

Prices continue to climb despite winter

Median sales prices are continuing on an upwards trajectory, and seasonality does not affect this. Although prices tend to make their biggest jump in the spring, prices in winter are still stronger than fall and summer. For example, this year prices have increased 7.5 percent between June and October, and the biggest jump in median sales price happened between September and October alone. We are seeing this consistent trend across all property types.

Best time of year for buyers

The sales-to-active ratio, known as the market absorption rate which signifies whether it is a buyer’s or seller’s market, is tipped in favour of buyers during the winter months. The only time of the year in the last three years that the market was considered ‘balanced’ or slightly in favor of buyers was between October and January. A balanced market is considered when the ratio is under .20 (anything above is a seller’s market). We are consistently seeing the trend of a balanced market during winter months then spiking to a seller’s market after February.

So far for the month of November we’ve had 34 new listings, 19 price changes and 26 sales.

Squamish is still more in-demand than ever with lots of thirsty buyers looking for that perfect property to come on the market. For buyer’s nervous about the new stress test, now is the time to buy without having to qualify at higher mortgage rates. Sellers, there are plenty of qualified buyers ready to go, waiting for the perfect home to appear. Don’t let the slow stigma of winter prevent you from taking real estate action this season.

Mortgage Rate Changes and Housing Affordability

Thu, 19 Oct 2017 18:26:38 GMT

Affording a home is about to get more challenging with new mortgage lending measures announced by the Federal Government. In summary, as of January 2018, borrowers of uninsured mortgages will need to qualify at the Bank of Canada’s five-year bench mark rate instead of the current posted mortgage rates. Last year a similar stress-test was passed for insured mortgages (these are mortgages with less than a 20 percent down payment), but now even those with a substantial down-payment will need to qualify at this higher rate. For a full overview of the changes see here.

With rising interest rates the government wants to put measures in place to ensure borrowers are able to re-pay their mortgages even in an increasing rate environment. This change is meant to safeguard borrowers from borrowing more than they can afford. Implications could include greater challenges for first-time buyers who now need to qualify at the higher rate. These buyers may need to re-adjust their housing expectations or seek alternative areas to purchase property. There are still first-time buyer programs in place to help first-time buyers such as the BC Government Home Equity Program and the First-time Home Buyer’s Program (see details on these programs here).

To give you an idea of the impact of this change (according to Ratehub.ca)- take the case of a young Vancouver couple with a combined household income of $100,000 and a 20 percent down-payment looking to borrow money. Based on their income, deposit amount, a 25-year amortization and a mortgage rate of 2.83 percent this couple would have been able to purchase a home up to $726,939. This would afford them a one or two-bedroom condo in Vancouver or the North shore, or a brand three-bedroom townhome in Squamish.

With the new measures in place this same couple will need to qualify at the Bank of Canada benchmark rate which is currently 4.89 percent or else two basis points above their intended rate (4.83 percent). By needing to qualify at this amount even with the same down-payment, amortization and offered interest rate (2.83 percent), they will only be able to afford up to $570,970. Now their looking at a one-bedroom condo somewhere in Vancouver and possibly a two or three-bedroom condo or older townhome in Squamish.

It is still unclear if provincially regulated lenders such as credit unions will adopt these new rules. Since this is a federal initiative, only the major federally regulated banks must implement this new stress test. Borrowers refinancing with current lenders will not need to undergo the stress test however with 45 percent of all mortgages uninsured the new mortgage rules are expected to impact one in every six mortgages according to the Financial Post.

So what will this do to the real estate market in Squamish? The Royal Bank of Canada is expecting an influx of borrowers during the last few months of 2017 who want to avoid qualifying under the new scheme. After January the predictions are that the market will likely cool in wake of this new announcement. For places like Squamish, it could heighten demand as more buyers are forced to seek outside of the city for affordable housing.

If you’re a buyer and are worried about how this new rule will affect you it is advised to speak to your lender or mortgage broker. If you would like to buy a property before the change, contact us for more information.

There is a Condo Frenzy Happening in Squamish

Thu, 14 Sep 2017 16:18:47 GMT

It’s fair to say Squamish is currently experiencing a condo frenzy. Since the beginning of the year condo sales prices have increased 40 percent. This past weekend alone two condos that hit the market were sold in 24 hours with multiple offers. There are simply not enough condos on the market to keep up with the demand for them. As single detached homes and townhomes creep higher and higher and are now too expensive for many, condo lifestyle is becoming the new norm for buyers moving to Squamish.

Unfortunately for now, there are slim pickings in the condo department. With a limited supply of older re-sale condos, and very few new condos on the market, buyers are left bidding for the limited stock for sale. The good news is there is a boom of new condo construction happening in Squamish right now with three projects going on sale this month alone. The bad news is that completions on these projects are at least 1.5-2 years away, meaning those that want to secure and live in a brand new condo in Squamish will need to wait.

So what is coming up soon?

This weekend The Lauren goes on sale. This development has attracted some attention, especially from investors, with prices starting in the high $200Ks. It’s been awhile since Squamish has seen any prices this low. Because of the excellent value, these will likely get snapped up by investors with little to be left for the everyday buyer. If you want to secure one of these, contact us immediatly.

Later this month The Vantage will also go on sale. This is the old medical building by Shoppers Drug Mart in downtown Squamish which will transform into a modern, European-designed mixed commercial residential building with an indoor courtyard and contemporary features. One bedrooms are starting in the low $300ks, two bedrooms in the mid $400ks and three bedrooms in the high $500ks. This project is expected to complete summer 2019. Reserve an appointment to secure your Vantage condo.

The Amaji is another condo development that will launch pre-sales this month. Featuring one and two-bedroom condos and located on 2^nd Ave, it will be in the heart of everything downtown Squamish.

Currently (as of today) there are 23 condos on the market in Squamish displayed on the MLS (many of these have recently sold or have accepted offers). Only 11 condos came on the market in August compared to 19 in August 2016. There were 54 condos total for sale in August 2016 and last month there was a mere 20. With the District of Squamish pushing density, this will be a housing type we will see much more of in the coming years.

If you own a condo and are hoping to sell, there has never been a better time! Your condo is very much in demand and you’ll likely be rewarded by a strong sale price and a lot of interest.

If you are buying it is important to stay diligent. Make sure you have your mortgage pre-approval in place and are signed up for new property alerts. Work with your agent to stay on top of new listings, and be prepared to make a strong offer when something you like comes on the market.

So far this September we have seen 46 new listings, 11 price changes and 24 sales across all property types. All signs are pointing towards a busy Fall real estate market. Make sure to contact me or Meghan with any questions about buying or selling this season.

The Real Estate BOOM and Echo

Wed, 23 Aug 2017 21:29:56 GMT

The annual ebbs and flows of the real estate market follow a similar rhythm each year, and although the magnitude of this rhythm is hard to predict, the occurrence of it is almost innate. The Spring real estate market is the most active time of the year. From about February onwards listings begin to surge, an increase of supply is met with a rush of demand, and sales prices go up. In the last few years the Squamish Spring real estate market has reached a new magnitude, prices have sky-rocketed, sales have been at record numbers and days on the market have been few. In real estate world, the Spring market is certainly BOOM-time, the busiest season of the year.

The Spring market typically begins to slow down in June, almost exactly at the same time as the kids are out of school. Though we have still had a pretty active summer for real estate in 2017, historically speaking, compared to Spring, the summer takes on a much calmer pace. New listing activity dies down, buyers have more time to shop around, and prices remain relatively stable.

It isn’t until the end of summer when activity starts to pick up again, this is like the real estate echo. Those who want to sell but didn’t make the spring market will likely try selling their home late summer/ early fall to nab a sale before Christmas. Buyers too anticipate an uptick of activity around this time and are eagerly awaiting a property deal to appear now that the crazy Spring market is behind them. This surge in real estate activity usually only lasts September and October before the market goes idle through the winter months in anticipation of the next big Spring boom.

So what does the real estate boom and echo affect mean for buyers and sellers? The late Summer/ Fall market provides a great opportunity for both sides of the deal.

For sellers who missed the Spring market and have been holding off for the Summer, increased buyer activity after Labour Day means you’re more likely to get a quick deal and a strong price for your home.

Buyers can revel in the additional listings that come on the market this time of year, without the sometimes frenzied pace of the Spring market.

So far this August we have seen 45 new listings on the market, 48 sales and 18 price changes. In the last week or so buyer activity seems to be picking up and we are anticipating a busy market again after Labour Day.

If you’re thinking of selling your home this Spring contact us for a free home market evaluation. Alternatively if you are hoping to buy, let us help you find the perfect home before Christmas.

Interest Rates and the Squamish Property Market

Sun, 09 Jul 2017 16:30:00 GMT

The Squamish real estate market seems unstoppable right now, and it will be interesting to see what the impact of the Bank of Canada’s interest rate rise will have on the market, if any. On July 12^th the Bank of Canada increased interest rates by .25 points with RBC’s Chief Economist Craig Wright indicating a turning point to a longer-term trend of rising rates. The last interest rate rise in Canada took place seven years ago in 2010, and since then we have enjoyed historically low rates resulting in cheap lending.

As you can see from the graph above, the 2010 interest rate rise was only incremental, and rates stayed stable between 2011 and 2014, before they started dropping again in 2015. Compared to previous years, this was a minor rate change that took place as a result of post-GFC inflation. The Squamish property market followed a similar trajectory as the interest rates, with the property market steading between 2009 and 2014 before picking up pace in 2015 around the same time rates began to decline.

Do the increased interest rates mean the property market in Squamish will slow down? It is hard to tell. As a real estate agent (and not an economist) I know that higher interest rates do affect the market as the cost of borrowing increases. The price of Squamish homes and resulting household debt make a rising interest rate environment seem a bit scary; however, if we look back to the interest rate levels pre-2010, what we are seeing right now is almost insignificant. Although rates are expected to continue in an upwards direction into 2018 they are not expected to rise as drastically as they have in the past.

The recent rate rise may stimulate the market in the short term as people wish to lock in low rates knowing they will likely be rising. Despite the .75 point increase the interest rates are still historically low and many big banks absorbed the speculative rate rises weeks ago.

People with current fixed term mortgages will not be affected by the rate change until they refinance, and those wishing to obtain a new mortgage should consult with a mortgage broker or lender to determine their best course of action. It is expected the next rate decision will be made on September 6^th.

June stats are in for Squamish and the end of Spring/ early summer is outpacing 2016 for total dollar volume sales, number of sales and average home prices. Last June the total dollar volume sold in Squamish was $36,418,700 (dropping off significantly from May which totaled $62,031,100). This June total dollar volume was $47,016,300 showing a much more active market heading into summer.

Sales support this trend too. Sales dropped from 95 to 57 between May and June 2016 while this year there was a smaller drop; 98 to 66. New listings remained the same between June 2016 and June 2017 (104 each), and days on the market is slightly greater in June 2017, 25 compared to 22.

So far this July we have seen 38 new listings, 12 price changes and 28 sales.

For more information on the Squamish real estate market, and to buy or sell this summer, make sure to contact me.

Summer Real Estate Market Insights for Squamish

Thu, 15 Jun 2017 18:26:16 GMT

Each season I like to look ahead and make some predictions about what the property market will do over the coming months. As Spring was approaching I had predicted increased demand for condos and townhomes, a healthier supply of properties on the market, and continued price gains (but not as drastic as 2016).

These predictions did manifest and between March and May 2017 we saw sales of townhomes and condos make up 53 percent of total sales in Squamish while making up 49 percent of sales during this period in 2016 (this data, in most cases, doesn’t include new construction which would tip the scales more heavily in 2017).

Inventory in spring this year also maintained a healthier supply than 2016. Total inventory across all property types averaged 157 in Spring 2016 while in 2017, the inventory on the market for the same period was 207.

Price gains also continued in spring 2017 but as predicted we did not see the same level of increase as the market experienced in 2016. Across all property types the year-on-year median sales price gains between May 2015 and 2016 was 31.8 percent, while gains between May 2016 and 2017 were 2.4 percent.

Looking forward to summer I am predicting an active real estate market over the coming months. Halfway through June and we have already seen 55 new listings come on the market and 34 sales. This is pacing similair to last year and for the entire month of June 2016 there were 57 sales and 104 new listings.

In July 2016 the real estate market reacted to the shock of the Foreign Buyers Tax. As consumer and investor confidence dipped the market stalled until late Fall. Disruptions such as this are not expected to affect this summer’s real estate market, and buyer and seller sentiment remains strong.

Prices will steady this summer and create optimal conditions for buyers as inventory remains at a good level (though still below long-term averages). Although the Squamish real estate market is still tipped in favour of sellers, historically summer presents a better market than spring for buyers especially when there are plenty of properties on the market to choose from such as now.

Summer remains a great time of year to sell as the Squamish backdrop makes any property dazzle and the additional out-of-town traffic who are here to experience the adventure that is Squamish also bring with them a curiosity about what it is like living here.

If you’re looking to buy or sell this summer, make sure to reach out and we can discuss your real estate plans over the coming months.

Nanci

Predicting the future of Squamish Real Estate from a look into the past

Tue, 23 May 2017 00:03:00 GMT

Every real estate agent wishes they had a crystal ball that would predict property trends. I have been selling real estate in Squamish since 1988 and never fail to be surprised with our local Squamish market. Since a crystal ball isn’t possible the next best method of determining the likely direction of the market is looking into the past. Analysing real estate trends and data give us some of the picture, and understanding the economic, political and regulatory landscape surrounding the market can help decipher some of the rest.

There will always be a piece of the real estate predication puzzle that can never be solved. Many would have never predicted the global financial crisis a few years before it happened, especially not its impact on property markets all around the world. Macro factors such as interest rates, industry changes, economic conditions, consumer confidence, global issues etc. all effect the real estate industry.

Based on data and by examining three important metrics, we look at Squamish’s real estate past to predict the future of the local housing market.

Sales Price

Sales prices have been trending upwards since 2005 with a slight dip between 2010 and 2013 due to the GFC, and a strong recovery starting in 2015. Between 2015 and 2016 sales price for detached homes increased 31 percent, townhomes 24 percent and condos 39 percent.

Price increases, although still impressive, are now beginning to ease. Between 2016 and 2017 sales prices went up 20 percent for detached homes, 12 percent for townhomes and 14 percent for condos. This is showing a stabilization which will likely continue for the next few years. With new construction being built, lack of affordable housing and possible interest rate rises, there is a good chance sales prices will steady for the short-medium term.

Days on Market

Days on the market signifies the demand for property at a particular period of time. Looking back 12 years ago, days on market were as low as they are now. Around 2008 homes began to sit on the market for longer, peaking in 2012 before the market made a strong recovery in 2015 and homes began selling quickly once again.

We are now seeing detached homes stay on the market for longer due to their higher price point, while condos are not staying for sale long (this is a reverse of 2015). This trend is expected to continue while prices remain high, and as the market begins to steady days on the market will increase for all housing categories.

Total Inventory

While days on the market tells a story about demand, total inventory tells the story of supply. Inventory peaked around the time of the Olympics, when assumedly many people believed it was a good time to sell. Inventory levels stayed high until 2012, at which point they started to deplete.

Our inventory levels are now around what they were pre- GFC and are creeping back up to more moderate levels. The demand for properties at the bottom end of the market is draining condo stock, while detached homes are accumulating on the market longer as many people are being priced out of the single-family home market. As new developments help alleviate the shortage of affordable housing, and as people seek more affordable markets elsewhere, expect more inventory on the market over the next few years.

More questions about the Squamish real estate market? Make sure to contact me about buying or selling in Squamish this year. With nearly 30 years of expertise and as a top performer in the local market, I have the experience, knowledge and know-how to represent you in today's market.

*stats taken from April 2005, April 2007, April 2012, April 2015 and April 2017

April Market Update- A close look at condos, townhomes and detached homes in Squamish

Tue, 11 Apr 2017 03:54:00 GMT

We are in the midst of a busy spring market and the popularity of Squamish real estate is going from strength to strength, despite a slowing down of Vancouver’s market to the south. So what are the best performing housing categories in Squamish? What property types are most ‘in-demand’, and where can deals be found? Here we look at condos, townhomes and detached single family homes in Squamish, and how they are performing in the current market environment.

Condos

The average sales price of a Squamish condo in March was $344,000. This is up 9.2% from March last year, and 43% from March 2015. The average days on the market of a Squamish condo in March was 12, this was down from 100 days in January, and similar to March 2016 where the average days on the market was 11. Total inventory of condos has been dropping steadily since November 2016 which peaked at 67 condos on the market; in March 2017 there were only 24 (compared to 58 in March last year). Condo sales are down from this time last year, mainly due to the lack of inventory.

New inventory of condos in Squamish is limited. The Main, located in downtown Squamish, is nearly sold out, and Sirocco and Skyridge’s Skysuites have not announced pre-sale dates. As the Squamish real estate market becomes more expensive, and as first-time buyers receive government assistance with down-payments, we will continue to see condos being highly sought after and sell quickly until new developments begin to replenish stock.

Townhomes

Squamish is seeing a surge of new townhomes come on the market, which may help stabilise property prices in this category, although we are not seeing proof of this yet. The median sales price of a townhome in March 2017 was $584,450, up 16 percent from March last year. Townhome inventory surpasses condos, with 53 on the market in March. Because of this days on the market are greater, averaging 32 days in March, giving buyers more choice when it comes to shopping around. Townhome sales remain similar to last year at 18 in March, although for the most part, this does not factor in pre-sales of new developments.

Projects like Summits View, Soleil, The Breeze and Skyridge are bringing much needed townhome inventory to Squamish. With completions starting late 2017, and more townhome projects coming up, there will hopefully be some stabilization of prices in the near future.

Detached Single Family Homes

Prices of detached single family homes have been on a sharp upward trend since 2015. In March 2017, the median sales price of a single-family home in Squamish was $952,000, up 13 percent from March 2016. Unlike condos and townhomes, there is little in the way of new inventory coming on the market, and besides Ravenswood, there does not appear to be much in the way of land or new developments happening in the near future. That being said, resale inventory is strong with 119 listings on the market in March, compared to only 66 listings the same time last year. Homes are selling for on average of 96.3 percent of the list price, which is lower than condos and townhomes which are at about 99 percent. There were 30 sales in March 2017 compared to 34 in the same month last year.

As you can tell by the numbers, no matter what property type you’re looking at, the real estate market is hot in Squamish. The robust real estate market is staying strong even with the additional inventory coming on, and will likely remain this way as more projects commence in the next few years, fronted by the Squamish Oceanfront project (Newport Beach) which is securing 20 years of development on Squamish’s Oceanfront peninsula making way for a further 6,500 residents in this community.

If you’re wondering when is the best time to buy or sell, it is now! For buyers, prices are continuing to climb, there is plenty of inventory on the market so if you’re able to buy, don’t wait. Sellers are seeing healthy levels of appreciation and can be confident about getting a strong sale price for their home. So far in April we’ve seen 41 new listings, 9 price changes and 41 sales.

If you have any questions about the Squamish real estate market, or are thinking of buying or selling in Squamish, make sure to contact Nanci Fulton today.

March Market Update- Comparing this year to last year so far…

Thu, 16 Mar 2017 17:11:02 GMT

I am hearing many people ask the question, “are we likely to see a similar spring real estate market as last year?”. If you’ve forgotten what happened last spring or weren’t here to witness it, we saw sales prices increase up to 30% in some neighbourhoods, multiple offers became the norm, and inventory got to record low levels. These frenzied conditions simmered down in summer, and the rest of the year regained a normal pace; however, many are wondering if we are likely to see a repeat of spring 2016. Will sellers experience market conditions as favourable as last year? Will buyers finally get a break? Let’s look at the data.

Sales Price

The average sales price in February 2016 was $638,372, this has increased 1.8% to $650,022 in February 2017. When we look at Vancouver the sales price has actually decreased 10% year-on-year.

New Listings

Spring is the time when people like to put their homes on the market. It appears we are slightly behind pace with new listings this year. Between January 1^st and March 15^th last year there were about 220 new listings that came on the market. This year, we are pacing slightly behind at around 206. In March 2016 there were 115 new listings that came on the market, half way through March 2017 and we have 57, slightly under.

Overall Inventory

Although new listings are down our overall inventory is actually above last year. In February 2016 there were 134 total listings, February 2017 there were 197.

Days on the Market (DOM)

We saw a significant drop of days on the market between January and February this year. In January 2017 the average days on the market was 64; this dropped to 24 in February. Homes are still staying on the market longer than they were last year. In January 2016 the average DOM was 27, this dropped to 16 in February.

Sales

Sales transactions are down from last year. In February 2016 we saw 64 sales, there were 20 less sales in February 2017. So far in March we have seen 31 sales (half way through the month), March 2016 had a total of 87 sales transactions.

So what does all of this mean?

We will and are seeing an upswing of activity following the usual spring trend. We are unlikely to see the market pick up to the same pace as it did last spring. There are several variables that account for this. The Vancouver market has cooled, giving buyers in Metro Vancouver some reprieve enabling them to enter this market instead of seek more affordable markets elsewhere. Prices have increased and the Squamish market is now unreachable for some buyers. The lending environment is tightening meaning mortgages aren’t as plentiful as they have been in the past.

These balanced market conditions are favourable for both sellers and buyers. Sellers are seeing strong prices, above this time last year however are unlikely to see multiple offers as frequency as we saw last spring. Buyers have plenty more inventory to choose from, lots of new projects, and therefore can be more selective with their purchase.

For those seeking more information about the Squamish real estate market, or are looking to buy or sell, you can contact me at nancifulton@shaw.ca.

February Market Update- A Great Start to 2017!

Thu, 16 Feb 2017 17:44:12 GMT

Half way through February and it’s been a great start to the year of real estate in Squamish. What makes it so great you ask? We start the year with balanced market conditions, plenty of inventory for sale and a more relaxed paced to the market compared to last year. In January 2016 we started the year with a mere 113 listings on the market compared to 210 listings in January 2017. The sales to active ratio, which indicates a buyer’s or seller’s market, was .25 percent in January 2016 (and rose to .64 percent in April 2016). In January 2017 the ratio was .17 percent, indicating a balanced market, favourable for both buyers and sellers. A seller’s market is anything over .20 percent while a buyer’s market is anything under .14 percent.

For Sellers

Property prices remain strong and according to the MLS HPI Price (which measures the rate that housing prices change over time), home prices have increased 28.3 percent since January 2016. There is a strong demand for well-priced properties, especially homes with suites, suite potential, and condos and townhomes under $500K.

For Buyers

With plenty of inventory on the market, including new developments and re-sale homes, there is lots to choose from in Squamish! The balanced market means buyers have more time to find that perfect property. In January the average home sold for 95.3 percent of the original price, this indicates some room for negotiation.

The current real estate market is positioned for a much more reasonable spring compared to last year, this however can change in an instant, we only have to look at sales last year which jumped from 28 in January to 99 in April. The Squamish real estate market does mirror Vancouver’s to some degree (read here to see just how similar the two real estate markets are), and many experts are predicting a continued decline of sales and a slight correction to property prices in Vancouver as the price heights of 2016 were at unsustainable and unaffordable levels. As we saw last year, many buyers were pushed out of Vancouver and turned to nearby markets like Squamish, this trend is expected to continue in 2017.

So far in February we have seen 47 new listings come on the market, 9 price changes (mostly down) and 25 sales. Stay tuned to the next market update in March where we will have a clearer picture of what the Spring real estate market will bring.

As always if you’re thinking of selling in 2017 I’d be happy to provide you with a free, obligation-free market evaluation of your home. If you’re looking to buy in Squamish, I can keep you posted with the latest listings that meet your requirements, and represent you during the real estate process. Contact Nanci Fulton today.

January Market Update and 2017 Predictions

Wed, 11 Jan 2017 22:27:47 GMT

Welcome to 2017! I hope everyone had an excellent Christmas holiday and is ready for a promising year ahead. Real Estate predictions for 2017 range from continued growth at a pace similar to last Spring to full on bubble bursting prophecies. Although our real estate market does mirror Vancouver’s to some extent (read on to see how our markets compared in 2016), there are a few things isolating us from anywhere else in BC, here are the top 5 reasons I believe the market will be hot in 2017.

Population growth- Squamish’s population growth is one of the strongest in the Province (growing at around 12 percent per annum). This is fueled by a migration of people from the Lower Mainland who can no longer afford the market and who are seeking a life of recreation and adventure here in Squamish. It’s a simple supply and demand issue. The demand for real estate from our current population coupled with people moving here is in excess of the current real estate supply available.
Low rental inventory- Squamish also has some the lowest rental inventory in the Province. I have heard figures as low as zero percent vacancy. This is turning some would-be renters into to buyers due to the un-availability of rental properties. Some of my renters were forced into buying last year and certainly didn’t regret it. Their new home increased nearly 30 percent in one year. The initial $30,000 equity invested in their home increased to nearly $40,000 in one year. If they would have rented, that $30,000 in twelve months of rental payments (at $2000 per month) would have been more like $6000. No brainer.
New developments- If you think the development in Squamish right now is booming just wait. With the Squamish Oceanfront Project (Newport Beach) on track to be finished in 20 years, the next two decades will transform this town even more than we have seen in recent years. Couple this with other projected developments like the Waterfront Landing, Garibaldi at Squamish, Garibaldi Springs and many more, Squamish is only going to become more appealing for investors and buyers over the coming years.
Foreign Buyers Tax- The foreign buyers tax was a catalyst for Vancouver’s cooling market, however this tax does not apply for Squamish. The tax could result in overseas buyers looking for areas around Vancouver that are not subject to the tax- such as Squamish.
First-time Buyers Home Equity Program- This new program which is in affect as of January 16^th 2017 will see the BC government matching first-time buyers deposits of up to 5 percent. This is going to mobile more first-time buyers to take the plunge into real estate and will likely see the bottom end of the market move up due to competition for more affordable properties.

For buyers, now is a great time. The market is relaxed and corrected since the heights of Spring 2016. It is likely the market will pick up pace come February/March so if you’re thinking of buying, now is the perfect time (plus there’s lots on the market).

For sellers, now is the time to get your home on the market! With a good possibility there will be a surge of buyers this Spring which is what we saw last Spring (so many buyers + not much on the market = strong sales prices and multiple offer situations). If you’re thinking of listing this Spring, we need to talk now.

And as for stats so far this month…

14 new listings

7 Price changes

6 Sales

Look forward to crossing paths in 2017!

- Nanci

December Market Update- Annual Overview

Thu, 15 Dec 2016 05:27:00 GMT

Only two weeks left in 2016 and with many people reflecting on the year that’s passed, we will reflect on the year in real estate. And what a year it was. Squamish is officially in the middle of an unprecedented development boom and real estate market. With so many industry changes such as the foreign buyers tax (which effects Vancouver, not Squamish), new lending rules, and big changes in global politics, there is certainly plenty shaking up real estate this year. Although the Squamish real estate market is showing some correction, we are still seeing strong prices and plenty of sales across all property types.

So far in December we have seen 21 new listings, 11 price changes and 24 sales. How about the rest of the year?

Sales in 2016

Total property sales across all property types peaked in April with 99 sales and were at their lowest in January with 28 sales. Since April, sales have been declining with a slight upswing this November. Looking at previous years’, sales paced ahead for the first five months of the year and then dropped below 2015 sales volume levels from June onwards.

Sales Prices in 2016

Sales prices gradually increased as the year went on. At the height of market activity in April the average sales price across all property types was $529,000. This has increased slightly in November to $537,000. In the detached home category, the median price went up $50,000 from April and $140,000 from November 2015. For townhomes, the median price dropped $36,450 between April and November and was also slightly down from November 2015.

Days on Market 2016

Days on the market hit a low this year in April with the median days on the market being 11 across all property types. In November, this increased to 36. In November, detached homes were likely to stay on the market the longest (60 days), followed by apartments (52 days) and townhomes (18 days).

Inventory 2016

Inventory is once again starting to climb, the highest inventory (active listings on the market) achieved this year was in November with 251 listings. The last time inventory was so high was in August 2014. Although inventory has been steadily climbing since December 2015, prices are remaining strong.

Many home owners in Squamish are asking themselves is now the time to sell? Our answer to that is YES! There are still favourable selling conditions in the marketplace and price gains in the last year surpass 30% in some Squamish neighbourhoods. If you have been considering selling your home we encourage you to contact us so we can discuss how your property could perform in the current real estate market, and what you can expect to get for your property. Despite Christmas being just over a week away the buyers are here, waiting for their perfect home to go on the market (it could be yours!)

November Market Update- The Pros of a Balanced Market For Buyers and Sellers

Tue, 15 Nov 2016 04:12:00 GMT

As a Realtor® there is nothing better than a balanced real estate market. Balanced markets present ample opportunity for sellers to get a fair price for their home, and buyers to negotiate on a property that’s right for them. Now that we are safely on the other side of one of the most frenzied Spring real estate markets I have seen in nearly 30 years of real estate in Squamish, many of us Realtors are taking a collective sigh of relief as the market regains a regular momentum once again. So, what are the benefits of this balanced market for both buyers and sellers? Let me tell you.

For Sellers

Sales prices have remained strong and well-priced homes are selling quickly. The days of putting any price tag on your property and watching it sell are over for now. That being said, sellers can expect getting 21% more for their home compared to this time last year. That’s an additional $120,000 for a $600,000 property- not bad gains in 12 months.

For Buyers

Yes, you are paying more to buy property in Squamish than you were a year or two ago. Compared to Spring however, prices are more reasonable, there is more room to negotiate and there is time to find your ideal property. The market does appear to be correcting, with prices trending down slightly so there is less pressure to secure your home. In October the average home was sold at 97.4% of list price, in March and April 2016 properties were being sold at 100% of list price.

Another positive for buyers is the added inventory coming on the market. There are several new townhome development presales happening, condo projects about to launch and new construction of single family homes too. There looks to be a good twenty years of strong development in Squamish led by big projects like Newport Beach (Squamish Oceanfront Development). This correction in the market may be a good opportunity for buyers to get in, with nothing but strong growth predicted for Squamish’s economy and property market moving forward.

So as a Realtor®, these are my favourite market conditions. So far in November we have seen 47 new listings come on the market, 17 expired listings, 27 price changes (mostly going down), and 24 sales.

If you’re looking to buy or sell, now may be the perfect time. While I can’t predict what the future holds for the local real estate market next year, there is no time like the present to negotiate on that property you’ve been watching, or to take advantage of the increased value of your home by selling.

October Real Estate Market Update- Is Squamish following Vancouver?

Thu, 13 Oct 2016 04:06:00 GMT

In recent months there’s been a lot of news about Vancouver real estate but what about Squamish? As many people are aware, the Squamish market does mirror Vancouver’s in many ways. If Vancouver sneezes, Squamish catches a cold- or so you would think. But what do the stats indicate, and is Squamish following the same real estate fate as Vancouver? This is what the numbers have to say…

Property Sales

Property sales are a good indicator of how active a market is. In the height of the property market this March, Vancouver recorded 5196 sales. In the height of Squamish’s market, which occurred in April, it recorded 99. The decrease in sales from the height of the market to September has been 55% for Vancouver and 58% for Squamish.

Verdict- Vancouver and Squamish are comparable with regards to the decrease in property sales between March and September.

*REBGV is Greater Vancouver

Sales Price

Sales price has been the metric receiving the most shock and awe in recent months. Between March 2015 and March 2016 average sales prices jumped 19% in Vancouver and 17% in Squamish. So what have the sales prices been doing lately? Although Vancouver saw a sharp dip in July, the average sales price in Squamish has remained relatively stable dipping ever so slightly from the heights of July/August.

In Squamish for most of year sales price has been over 100% of list price, this dropped off in July with August being 96% and September 96.9%

Verdict- Sales prices in Squamish are remaining steady while they are dropping ever so slightly in Vancouver

New Listings

At the end of 2015, listings were a scarce commodity. In December 2015 there were only 15 new listings on the market in Squamish compared to 115 new listings which came on the market in March 2016. In the graphs below you can see Squamish and Vancouver are following a similar trend with listings. This trend is also showing a regular seasonal tendency, with the bulk of listings coming on the market in Spring, a lull during summer and then a small momentum shift in the fall before listings generally quiet down around Christmas.

Verdict- Squamish and Vancouver are following usual seasonal trends with listings

Days on Market

Days on Market (DOM) indicates property market activity. The fewer days on the market the quicker properties are being purchased. The more days on the market the more likely price reductions and expired listings will occur.

In March the average days on the market of a property in Vancouver was 9, in Squamish it was 14. Here is what DOM has been doing in recent months.

Although Vancouver has remained relatively steady with regards to days on the market, Squamish has seen a rapid rise of DOM. For seller’s this means they should no longer expected their property to fly off the shelf, for buyer’s this presents an opportunity to take their time before submitting an offer and to submit offers more competitively than they were able to do in prior months.

Verdict- Properties in Vancouver are still selling quickly while properties in Squamish are staying on the market longer than they were this Spring.

Sales to Active Listings

Sales to Active listings is the best metric to assess when determining a buyer’s or seller’s market. The ratio measures a balance between supply and demand and is calculated by the number of unit sales by the number of active listings. Based on this ratio a seller’s market is declared when the ratio is above 20%, and a buyer’s market is declared when it’s below 12%. Anywhere between these numbers the market is said to be balanced. Here is what the sales to active listings ratio has been doing in Squamish and Vancouver recently.

As you can see, both Squamish and Vancouver had very clear seller’s markets this Spring. According to the ratio, Vancouver still has a slight seller’s market with a ratio of .23 in September while Squamish dipped to .17 showing a balanced market for the first time since January 2015.

Verdict: It’s a seller’s market in Vancouver and a balanced market in Squamish

As the statistics show, the Squamish and Vancouver real estate markets are deeply intertwined. It is clear as we move into winter the strong seller’s markets that were present in Vancouver and Squamish this past Spring are beginning to soften. The balanced market environment is a great time for both buyers and sellers. Sellers can be happy that prices are holding strong although quick sales above list price and multiple offers are far less likely to occur. Buyers can delight in more inventory on the market and no longer need to rush into purchases often facing multiple offer situations.

If you’d like more information on the Squamish Real Estate Market or are looking to buy or sell your home this year- please contact Nanci Fulton and Team.

September Real Estate Market Update- Are Buyers Getting a Break?

Fri, 16 Sep 2016 15:05:18 GMT

The summer is over and the real estate market this September is gaining momentum following the regular summer slowdown. Although we are starting to see listings pick up once again, the market is not presenting the same frenzied pace as it was this past Spring. We’re only halfway through September and there are already 53 new listings on the market; in August there was a total of 70 new listings. So far this month we have seen 18 price changes and 19 sales.

Looking back into August the average price in all dwelling categories in Squamish was $623,100. This is an increase of 2.4% from July and an increase of 17.62% from January 2016. Although prices are still staying strong, they are not rising at the rapid rates that they were earlier this year. The average days on the market in August was 28 days, this is up from 11 days in April meaning we are not seeing properties snapped up as quickly as we were this Spring. Sales have also halved since the height of Spring with 47 sales in August compared to 99 in April.

What does this mean?

Without a crystal ball it’s impossible to predict with certainty what the market will do; however, key metrics indicate that homes are staying on the market longer and sales are not as strong. This suggests a bit of a break for buyers who, in the Spring, were competing often in multiple offer situations. With more inventory on the market, several new developments launching pre-sales this Fall, and a more settled pace, this may be a great time for buyers to find their perfect home or investment.

New Developments

There are two new exciting projects launching pre-sales this month. Skyridge, located in the Tantalus area, will be releasing single family home lots, duplexes, townhomes and condominiums. The official sales launch for Skyridge is September 24^th. The next phase of Coastal Village will also be launching late September/ early October; prices have already been released and three bedroom townhomes are starting at $499K!!! Soleil follows the popular Aqua phase and will consist of 64 two and three bedroom townhomes. If you are interested in being the first to know when these are released- please contact me. For more development news this September check out a recent update published on Move to Squamish.

August Market Update and BIG Industry Changes

Thu, 11 Aug 2016 15:23:55 GMT

Real Estate in Metro Vancouver and subsequently Squamish and the Sea to Sky has sure received a lot of media hype over the last six months. Instead of casual conversations about weather, real estate seems to be the dominant go-to conversation piece (and not just for Realtors!).

Two very big events have occurred in the last month, with another event forecasted. Here is an overview of these events, in case you missed them, or wanted to learn more:

The Provincial government announced it would call an end to the self-regulation of BC’s real estate industry as a way to monitor and ensure ethics and integrity were maintained. After an independent review of the industry, some proposed changes that will come into place include the end of limited dual agency (where an agent represents both a buyer and a seller), and dramatically higher fines for agent misconduct.
As of August 2^nd, a 15 percent tax will be applied on all transactions of foreign buyers in the Metro Vancouver area (this does not include Squamish or Whistler). This tax will be applied on all purchases, even those where the contract of purchase and sale was signed before August 2^nd.
A vacancy tax is also in the works for Metro Vancouver after a 2014 study by the City of Vancouver found that nearly 5 percent of all properties in Vancouver were vacant (nearly 13 percent of condos). The details of this tax has not been worked out, but expect it to be implemented in the coming months.

While the BC Real Estate Industry undergoes reforms, and the Metro Vancouver Real Estate Market receives a shake-up with the new foreign buyer tax, it is still business as usual here in Squamish. Sales figures for July are in with the dollar volume for sales slightly down from June, and total sales also slightly down. This is following normal summer trends as the real estate market tends to pick up again in September, before quieting down over Christmas and then peaking once again in Spring. So far in August we have seen 26 new listings come on the market, 8 price changes and 20 sales.

Looking to buy or sell in 2016 or have questions about the new foreign buyer tax or changes to the BC real estate industry? Make sure to contact Nanci Fulton for all of your real estate needs in Squamish.

July Market Update- Is it Slowing or just Summer?

Wed, 13 Jul 2016 22:17:10 GMT

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.

June Market Update- Check Out The Sale Price Increases!

Wed, 15 Jun 2016 22:23:42 GMT

If you live in Squamish, most likely you’ve engaged in a conversation this week about how crazy the local real estate market is right now. Although these conversations may be getting tiresome (and frustrating for many), the state of the current market is newsworthy and the sales prices have soared astronomically in the past year. Driven by factors such as Vancouver’s booming market fueled by overseas investors, low interest rates and a healthy BC economy- the perfect conditions have presented for a strong real estate market in Squamish.

New developments coming to town are likely to increase interest in Squamish and could possibly calm the climbing prices. Here we will look at the median home sales price over the last year for the townhouse and detached property market.

Median Sales Price- Townhomes

In January 2015 the median sales price for a townhome in Squamish was $399,900, at this time the average days on the market was 16 and the total inventory was 27. Fast forward to May 2016 and the average sales price is $525,000 (that’s $125,100 more), days on the market has dropped to ten and total inventory to 20.

Median Sales Price- Detached Homes

At the beginning of 2015 one could purchase a detached home in Squamish for $555,000 which, at the time, seemed expensive compared to a few years earlier when the average price of a detached home was only $389,000 (2011). In January 2015 the average days on the market was 77 (in May 2016 it was 15), and inventory was 96 homes for sale compared to 85 in May. In May 2016 the average price of a detached home sky-rocketed to $887,450 an increase of $332,450 in a little over a year!

So far in June we have seen 43 new listings come on the market, 23 price changes and 24 sold properties. Good news for buyers, we are seeing some price reductions indicating the top of the market may have been reached. Those looking to sell their home only need to look at the numbers to see the value in their property compared to even a year ago. Having practiced real estate in Squamish for over 25 years I have been through some strong markets and also through some very weak and difficult ones. I certainly can say however, that I have never seen a market quite like this before!

Have any questions or comments about the Squamish real estate market? Want to find out what your home may be worth? Contact me today and find out more.

May Real Estate Market Update

Wed, 18 May 2016 21:31:06 GMT

Already this month there have been 53 homes sold, 64 new listings and 18 price changes. If you live in Squamish you’ve probably noticed for-sale signs popping up in your neighbourhood and sold signs quickly following. Many houses are being sold within days of entering the market, above list price and with multiple offers. As the weather heats up, and tourists from around North America start exploring the natural world around us- demand is expected to continue.

Looking back at April we saw the strongest April on record for dollar volume ($40 million). There was a total of 47 homes sold, 16 townhomes, and 36 apartments. Single family homes and apartments/ condos had the most interest while the townhome market appeared to cool slightly in in April.

The Squamish Oceanfront Development was in the news earlier this month; Nexen Beach was officially renamed Newport Beach. Construction has commenced on the oceanfront lands; initial ground-works have begun with the education precinct and parklands are to follow. Read my latest Blog post, Welcome to Newport Beach Squamish, for more information about the Newport Beach Development.

This month saw changes to the contract assignment regulations. A contract assignment is when an interest in property is transferred from the sellers to a new party before completion date. The real estate market in British Columbia, most notably Vancouver, was seeing Realtors and sellers profiting on the hot real estate market by flipping property. New regulations to protect the seller and the buyer stipulate the seller must give consent to assign the contract and any profit from the assignment goes to the initial seller.

As Vancouver’s real estate market continues on at a frenzied pace markets surrounding Vancouver (including Squamish) are feeling the effects. The real estate market in Squamish is expected to continue at a steady pace this summer, making 2016 an excellent time to sell your home.

For more information on Squamish’s real estate market and to find out what your home may be worth contact Nanci.

Welcome to Newport Beach Squamish

Wed, 11 May 2016 20:18:53 GMT

There’s been a lot of exciting news in Squamish this year and perhaps the most exciting would be the breaking ground of the Squamish Oceanfront Development, now called Newport Beach. On February 3^rd 2016 59 acres of waterfront land transferred from the District of Squamish to Newport Beach Developments Limited Partnership. The construction has begun on Squamish’s waterfront dream set to house 6500 residents, create 2300 jobs and establish over 21 acres of parks, public space and community facilities. The project is expected to take 20 years to complete.

The sub area plan has been implemented and initial work has already begun. The first order of business is to commence site filling and grubbing. The entire site will be brought up to current flood levels complying with city standards. Once the site preparation is finished construction will start on the Green Tech Centre, Education Complex and Public Park.

The University of British Columbia has signed a statement of cooperation with Newport Developments to establish a Clean Energy Research Centre with some student residences. This synergy will develop sustainable employment in the community and bring Squamish to the forefront of innovation and technology in the renewable energy industry of Canada.

The public park is also one of the first areas to be developed in Newport Beach and will include kilometres of biking trails, green space and waterfront walkways. There isn’t expected to be any interruptions to walkers and bikers at Newport Beach (Nexen Beach) this summer, although some parts of the trail may be closed temporarily.

In terms of real estate development there is lot to be excited about for community members in Squamish and investors. An Oceanfront Hotel will be built in the second phase of the development followed by the first two residential projects in the third phase. The residential developments will be built on the marina boardwalk with further residential developments happening in later stages of the project.

If you are interested in investing in Newport Beach, you are not alone! This development has been attracting investors from all over North America since it started as a whisper years ago. As a Realtor in Squamish for over 25 years I have seen the town go through waves of development and this is certainly the most exciting project I have seen as of yet.

If you would like to stay up to date on the latest happenings of Newport Beach | Squamish Oceanfront Development send me an email nancifulton@shaw.ca and I will add you to my update list. Alternatively, I would be happy to sit down with you and discuss the impact of Newport Beach on Squamish and what it means for the local real estate market.

** Latest News** (June 2016) Construction has started! The ground has broken and construction on the new office building has commenced in Lot 4. Environmental monitoring continues and the foreshore design is underway.

Planning has started on the first major development at Newport Beach, the Green Technoloy Centre which includes the Green Tech Office Building and Research and Development Facility. Here are some artist drawings of the two buildings:

Green Tech Building

Research and Development Facility

Want to stay up to date with the latest development news in Squamish including the Newport Beach Oceanfront Development? Contact me today nancifulton@shaw.

April Real Estate Market Update

Wed, 20 Apr 2016 17:47:17 GMT

WOW April has sure seen some action in Squamish’s Real Estate Market! So far this month we have seen 66 new listings come on the market, 76 sales and 10 price changes. Causes for the current market conditions include Vancouver’s real estate market bubble making affordability in Vancouver out of reach more many. People are cashing out, or looking elsewhere and are turning to places like Squamish, The Fraser Valley and the Okanagan instead of the Lower Mainland.

Our current low interest rates are another factor contributing to the fast paced market as is the number of developments recently announced and either confirmed or in final phases of approval. The following developments are generating demand in the Squamish region and are expected to transform the landscape of Squamish over the coming years:

The Squamish Oceanfront Development

Garibaldi at Squamish

Woodfibre LNG

Great Wolf Lodge Resort

Not only this, but Whistler has recently announced a $345 million project, ‘The Renaissance’, which will feature the biggest indoor waterpark on the continent, an indoor all season training facility, a roller coaster, the Northern hemisphere’s longest suspension bridge, upgrades to both Whistler and Blackcomb mountain, a doubling in size of the bike park and real estate and hotel developments. Of course Whistler is only 30 minutes away from Squamish, which will no doubt further fuel demand for Squamish which is conveniently 30 minutes closer to Vancouver.

Exciting times for this small coastal town! I moved to Squamish in 1988 and sure have seen things change. When I started Real Estate in the late 80's I couldn’t have imagined the town transform into what it is today. I certainly am proud of what Squamish has become and look forward to the continued expansion in the coming years!

March Real Estate Market Update

Wed, 16 Mar 2016 21:18:34 GMT

We are now two weeks into March and the Squamish Real Estate Market is continuing on at a frenzied pace. We are seeing multiple offer situations and well-priced homes aren’t staying on the market long. Since the first of the month we have seen 48 new listings and 50 sales!

The rain and recent news of Squamish Valley Music Festival’s cancellation hasn’t dampened the real estate market in Squamish. Those considering buying are encouraged to have all of their pre qualifications in order to ensure they don’t miss out. Those looking to sell their Squamish home couldn’t have timed it better. With inventory still at historic lows, and buyer demand at unprecedented highs now is an excellent time to put your home on the market.

Have a look at what BC Real Estate Association’s Chief Economist Cameron Muir had to say about the sizzling real estate market in BC and contributing economic factors.

Looking back to February and Metro Vancouver received the highest selling February on record with 4172 sales, up 36.3 per cent since February 2015. Squamish is no doubt seeing the flow on effect of Metro Vancouver’s real estate market. Many Vancouverites are opting out of the market and turning to more affordable areas like Squamish and the Fraser Valley.

Contact me today with any of your real estate queries or to find out what your home may be worth in today's market!

-Nanci

February Market Update

Thu, 18 Feb 2016 20:25:48 GMT

A lot has been happening in the real estate world this Feburary in Squamish and throughout the country. New mortgage rules which aim to limit risk for lenders and slow the pace of red hot real estate markets came into effect on February 15^th 2015. The new rules stipulate that buyers purchasing a home between $500,000 - $1 million will need to put down a 10% deposit on the portion of the home over $500,000. This means amounts under $500,000 are still subject to a 5% minimum down payment but a home costing $750,000 for example, would require 5% on the initial $500,000 plus 10% on the remaining $250,000.

The BC Budget has announced tax exemption for buyers of new homes up to $750,000. Unlike the previous tax exemption for first-time buyers on homes up to $475,000, this new initiative will be available for all buyers purchasing a new home. On a $750,000 home, the exemption of the property transfer tax will see a savings of $13,000. Those purchasing homes over $2 million will see their property transfer tax increase from 2 to 3 percent.

Locally in Squamish we have seen a typical early spring increase in new listings coming on the market over the last couple weeks pleasing the stockpiles of active buyers in the region. In the last two weeks there has been an increase in listings coming on; and the pace is expected to continue as we move towards spring which is typically one of the busiest times of the year.

In recent weeks there have been announcements that the Squamish Oceanfront Development and Garibaldi at Squamish are getting closer to becoming a reality. The District of Squamish transferred a parcel of district land to a joint partnership developer with construction to commence on the oceanfront park phase of the development in the coming months. Garibaldi at Squamish was given environmental approval subject to forty conditions outlined by the Province; this is a major hurdled cleared by the four seasons resort. Find out more information about both these developments and others in the region.

Now is a great time to list your home for sale. Contact me for more information about what your home may be worth in today’s market.

-Nanci

In the last 2 weeks there have been…

60 new listings

27 sales

9 price changes

How Do You See Squamish in 2040?

Wed, 27 Jan 2016 19:15:12 GMT

This Thursday the District of Squamish is holding a public visioning event where Squamish residents will come together and create a collective vision for 2040. This high level brain-storming session will filter into the Official Community Plan, the approved document paving the way for the vision, goals and objectives determining Squamish’s future. A lot can happen in 24 years, and although it may seem light-years away, the results of Thursday night’s meeting are the first step in shaping Squamish’s future. So what do you see for Squamish in 2040- 24 years from now?

A journey into the past can help reveal the future which lies ahead. Rewind back to 1992- 24 years ago. Squamish, most commonly recognized as the McDonalds on the way to Whistler, had a population of 11,000. The main industry was forestry and the largest employer was Interfor. The drive to both Vancouver and Whistler was along a windy double-lane highway, scenically stunning but alarming accident prone; the drive in those days took an additional 10-15 minutes in both directions. The cost of a 3 bedroom home in Garibaldi Highlands in 1992 was $155,000. That same house today costs $800,000, that’s a remarkable increase of 416 percent.

Squamish sure has changed a lot in 24 years. Gone are the days of the Bowling Alley on 2^nd Ave and the brown, orange and beige Civic Centre. The Olympic boom saw the upgrade of the Sea to Sky Highway, big box stores like Walmart and Home Depot, and Canada’s first Liberal Arts University, Quest University which constructed a campus in Garibaldi Highlands in 2007.

As the rest of the Western world tumbled into a recession, Squamish continued to surge forward with the Sea to Sky Gondola and Squamish Valley Music Festival firmly establishing Squamish on the international stage. The New York Times recently ranked Squamish as one of the top 52 places to go in 2015 and the town’s population reached 17,000 in 2011, a 14.6 percent growth from the previous census in 2006.

No longer is Squamish just a pit-stop town on the way to Whistler or a bedroom community of Vancouver. People are moving to Squamish in droves because of what it offers, not only because of what it’s close to. The rock-climbing, mountain biking and wind-surfing are drivers for both locals and tourists. The demographic shift to young families and professionals has created a youthful and vibrant energy around the town. The new Ground-Up climbing centre plus a handful of fitness centres which have sprung up in the last year are a testament to the youthful and active community that forms that majority in Squamish.

The development boom in Squamish is transforming the landscape of the town. Downtown Squamish has been inundated with condo and townhome developments as has Dentville, the Northyards and Tantalus in Garibaldi Estates; there is no sign of this development boom stopping anytime soon. The Squamish Oceanfront Project is becoming a closer reality and developments in the Cheekeye Fan and Garibaldi at Squamish could soon come to fruition. The average home price has increased 62 percent in the last 5 years and the insatiable demand for life in Squamish is only curbed by the actual inventory of properties available for out of town buyers.

Things sure have changed in Squamish in the last 24 years. Imagining the town in another 24 seems like an impossible feat. If the population increases at the same rate it has been there could be a total of 26,000 people in 2040. That same three bedroom home in Garibaldi Highlands if increasing at the same rate will cost 3,328,000m in 24 years.

If you could create your ideal Squamish in 2040 what would it look like? Do you see tourism driving the economy? What type of jobs do you envision supporting the growth of the town? What type of parks, trails, and gathering areas would you like to see? What natural resources should be preserved? How would you address the current housing affordability as we move into the future?

Thursday night’s Public Visioning Event is your chance to participate in the creation of Squamish’s future. The event is taking place at the West Coast Railway Heritage Park between 6pm and 9pm. If you can’t make the event there is an online questionnaire available. It’s is exciting times here in Squamish, and although I can’t predict what 2040 will look like, I don’t think the excitement will be slowing down anytime soon.

Common Mistakes to Avoid When Listing Your Home in a Seller’s Market

Wed, 23 Dec 2015 18:53:00 GMT

Thinking of selling your home? Here are 7 common mistakes when selling your home and how to avoid them.

In one of the best seller’s markets in recent history many people are considering putting their home on the market in 2016. If you are one of these people, this list of the seven common mistakes that people make when putting their home on the market may be useful. As a Realtor® serving the Sea to Sky Region for over 25 years I have seen almost everything. One trend that is common in a strong seller’s market is sellers believing they can simply put their home on the market ‘as-is’ and expect strong offers. Although there is a good chance you will get a good price for your home, make sure to avoid these common pitfalls in the process.

1. Pricing based on profit not market conditions

Yes the buyers are here and there is not a lot of homes for them to choose from but that doesn’t mean you can price your home well above its market value. Often sellers have a magic number in mind that they would like for their home. It is important to ensure that your desired selling price is realistic in today’s market. As your Realtor® I will help you assess the current market conditions. We will take into consideration things such as your neighbourhood, the age and condition of your home, the lot size and aspect plus the current real estate market to determine a realistic selling price.

2. Overlooking outstanding repairs

When you see homes selling in under a week with multiple offers it is tempting to put your home on the market without addressing outstanding repairs. This strategy can end up hurting you in the future. Although buyers are interested and ready, they are not un-educated. Outstanding repairs will be a big red flag to prospective buyers and will deter many people from putting an offer on your home. Even if buyers do proceed with an offer a building inspection will reveal any repairs or defects and may jeopardise and delay the offer. I always suggest to my clients to do their due diligence and make any necessary repairs before listing their home for sale. This includes ensuring home systems are in order, repairing any structural damage as well as smaller repairs like changing light bulbs and fixing leaky faucets.

3. Selling your home before you’re ready

It’s tempting to sell your home in a hot seller’s market but it’s important to make sure you are actually ready to move. Your first step is to contact your Realtor® and make sure your ducks-are-in-a-line before you list your home. Chances are, your house may move quickly so it is important that you are prepared if this happens. Where will you move once your home is sold? Do you need to start searching for your next property? If your home is put on the market do you have essential paperwork ready such as strata documents?

4. Neglecting the clutter

First impressions are important to prospective buyers and a well presented home does wonders for first impressions and early offers. It’s a proven fact that homes sell quicker and for a higher price when they are staged in a clean and organized manner. This means removing all personal effects (such as photos) and storing away any loose and unnecessary items in the home. Simple staging can include placing your furniture in a neat and organized way and adding some nice details such as cushions, flowers or a centerpiece on the table. Hiring a professional stager is another option; this can involve complete overhauls inside your home using borrowed furniture and décor. When working with clients I will often walk through their home before listing it on the market and make recommendations in regards to de-cluttering and staging.

5. Avoid being unavailable

Once you put your home on the market, expect that people will want to see it. It is important that you make your home (and yourself) available during the process. Although it is best that you are not around when potential buyers view your home it is important that you make your home available for showings and open houses. When an offer does come in, ensuring you are on the ball with signing paperwork and negotiating the sale will help expedite the process and better your chances of a successful deal.

6. Letting emotions rule your decisions

Selling your home is an emotional experience for many. For some, a home is a place where a lifetime of memories have been made. I have seen many clients over the years become very emotional during the process. It is important to ensure your emotions don’t hinder your decisions when selling your home. By creating clear boundaries and expectations before the offers come in, and sticking to these is a helpful strategy. By having a minimum offer price set out beforehand you will avoid accepting an offer based on emotion and alternatively will avoid rejecting one out of fear or upset.

7. Not disclosing defects in your home

It is your legal duty to disclose all defects (latent and patent) on your home when putting it on the market. Upon listing your home your Realtor® will have you complete a property disclosure statement which is legally binding. The risk is too great to neglect to inform potential buyers of defects and could result in deals falling through and costly legal battles if not done accurately.

It is an exciting time for Sellers in the Sea to Sky area with unprecedented demand in the real estate market and prices at an all-time high. This hot seller’s market is not an excuse however to get lazy and neglectful when selling your home. By avoiding these common mistakes you are well on your way to getting the most for your home. If you are thinking about selling your home in 2016, contact me today for an initial discussion about getting your home ready for sale!

8 Tips for Getting the Best Price for Your Home

Thu, 26 Nov 2015 19:31:35 GMT

It is a seller’s market in Squamish and many parts of British Columbia but that doesn’t mean you can get lazy when selling your home. Despite the low inventory of houses on the market, expect buyers to be educated and savvy when it comes to purchasing a new home. For this reason it is important to ensure your home is up to scratch in order to get the price you desire. Over the years practicing real estate I have noticed there are some easy preparations you can do to maximize the value of your property. Here are my 8 Tips for Getting the Best Price for your Home.

Organize and Declutter

There is nothing that turns a buyer off more than a house full of clutter. It is difficult for prospective buyers to envision themselves in your home if there are items strewn around in an unorganized manner. Personal items such as photos, and keep-sakes can often be a deterrent to people looking to buy a new home. It is advised to clear out clutter before you put your home on the market and organize it in a way that is appealing to the eye. Put away your personal items and in some cases, move belongings into storage to give your home a clean and neutral feel.

Staging goes a Long Way

Staging can range from minor adjustments in your home to complete overhauls with borrowed furniture and décor. Simple staging can be done with a little re-decorating and strategic placement of furniture, pillows and decorative items. Professional stagers are another option and can completely make-over your house to a cover worthy display home. Many Realtors have a keen eye for staging and if not, will be able to recommend a professional.

Repairs around the House

If you have outstanding repairs around the house, it is best to address them before you put your home on the market. Small defects such as a broken fence, chipped paint and loose door handles are quick fixes but can cost you in the long run if they aren’t addressed. A prospective buyer can be automatically turned off if there are small repairs needed around the house. They may automatically think, “what else is there needing fixing that I can’t see?”

Outdoor Maintenance

Often the outdoor area is where people pass their first judgements; a tidy outdoor space speaks volumes for first impressions of the home. Mowing the lawn, sweeping leaves and cleaning up any debris around the home is essential when having buyers inspect your property.

Audit Your Systems and Appliances

Before putting your home on the market it is important to ensure all of your appliances and systems are in working order. The last thing you want is surprises popping up in your building inspection that could be costly and delay the process. Make sure that your heating systems, electrical system, and plumbing systems are all in working order before listing your home for sale.

Replace Burnt out Lightbulbs

Another easy fix that shouldn’t be neglected. By replacing burnt out light bulbs you will give the impression that everything in the home is taken care of and in working order. By neglecting simple maintenance jobs like this you may give prospective buyers the impression that other simple repairs around the home have also been neglected.

Be Flexible for Showings

Once your house is on the market and priced correctly expect that it will generate a lot of interest. Ensure your home is accessible while it is for sale. If you have tenants inform them of their rights during the process. Make sure to keep the house neat and tidy, be ready for inspections and be flexible when your Realtor calls with prospective buyers. It may be slightly inconvenient at first but overall will result in your home being sold more quickly.

Know the Market Conditions

Even though the current market is hot you need to be realistic in your pricing. Consider your neighbourhood, the condition of your home, the year it was built and the aspects of your lot. Monitoring the sale price of other homes in your neighbourhood will give you a good indication of what yours may sell for. Consult with an experience Realtor and get a market evaluation to determine the maximum price you can expect for your home in the current market.

If you are thinking about selling your home in the Sea to Sky, I would be happy to sit down with you and discuss the process. Starting with a walk through of your home and a current market evaluation we can discuss what your property is likely to sell for in today’s market, and what (if any) repairs should be addressed before your home is put on the market. Contact me today for a free market evaluation and take advantage of this great seller’s market in the Sea to Sky.

Squamish Development News: Residential Developments to Watch

Mon, 02 Nov 2015 19:29:12 GMT

Squamish is booming with new single family, townhome and condo developments. Here are the current developments to watch.

Squamish is seeing an explosion of new development and the timing couldn’t be better. With a surge of young couples, families and professionals moving to Squamish- and with current housing inventory unable to meet the demand- the new houses, townhomes and condos are a welcomed addition to the town. Over the last 10 years Squamish has seen new residential developments such as Eaglewind, Aqua and the Artisan downtown. Arbourwoods and Elements have revitalized the Northyards area and Skyridge, Alpenlofts and The Galleries have seen the Tantalus area of Squamish boom. New development in Squamish is continuing to sky-rocket. Here is a list of the current projects underway and on the books.

Newport Landing

Newport Landing is urban living inspired by nature. The development offers 2 and 3 bedroom townhomes with tasteful features and functionality. Newport Landing is within walking distance to downtown Squamish and is selling out fast! **Update** SOLD OUT (11/3/15)

Abby Lane

Abby Lane is currently selling and features 3 bedroom homes nestled in a friendly river-side neighbourhood in Central Squamish. The spacious floorplans and stunning design give ample space and functionality; the development is located in close proximity to downtown Squamish, schools, golf and shopping.

Parkhouse

Located in downtown Squamish Parkhouse Condominiums are surrounded by nature with breathtaking views and close to everything! The development has one, two and three bedroom condos with a variety of floor plans, a large common amenity patio with rich and contemporary interiors. Parkhouse is hitting the market mid-November. SOLD OUT in 24 HOURS (11/8/2015)

The Maples at Fintry Park

Fintry Park is a 54 acre, 175 home smart community currently under development in the Brennan Park area of Central Squamish. The first stage of The Maples is sold out with the second stage of West Coast-inspired single family homes set to hit the market in early 2016. The community masterplan features 27 acres of green space, a 2km trail system with additional trail connectivity, and a neighbourhood park/picnic area. There are also plans to develop condos and townhouses in future phases.

Skyridge

Skyridge is located in the Garibaldi Estates and is situated on a hillside with stunning ocean and mountain views. There are currently 15 lots of Skyridge selling with plans for townhouses and duplexes to come on the market sometime in 2016. The 20 acre neighbourhood is slated to have a central park, walking trails, and potentially a primary school and childcare facility.

Squamish Oceanfront

Squamish Oceanfront Community has been over a decade in the making and is now closer than ever to becoming a reality. The development would see a vibrant, innovative, sustainable and world-class work-learn-play community located right in the heart of downtown Squamish. With a blend of residential and commercial this projected neighbourhood would completely re-shape downtown Squamish.

Crumpit Woods

Crumpit Woods is currently selling offering full-size single family lots situated amongst towering mountains and forest playgrounds. Phase two is over 95% sold with only one lot remaining. Located above the Plateau in Valleycliffe the Crumpit Woods neighbourhood is an adventure seekers dream location and only 5 minutes to downtown Squamish and 45 to downtown Vancouver. **Update** SOLD OUT (11/4/15)

The Falls, Eaglewind

The Eaglewind Community has renewed downtown Squamish and is now in its final phase of development. The Falls at Eaglewind offers 40 three-bedroom townhomes featuring contemporary West Coast architecture and designer interiors. The Eaglewind neighbourhood is set on acres of parkland with an extensive trail network, tennis court, lawn bowling, playground and community garden plots. There are only a handful of townhouses remaining in The Falls.

University Heights

University Heights grants you luxurious living in the great outdoors. The development features 72 single family and 33 duplex lots giving you the option to customize your own West Coast home. The sustainable community is located in Garibaldi Highlands near Quest University and overlooks the Tantalus Mountain ranges. The first phase of University Heights is nearly sold out with future duplex lots soon to be released.

Garibaldi at Squamish

Garibaldi at Squamish (GaS), a destination ski/golf resort plus residential and commercial development is becoming closer to a reality. With talks to begin construction in 2016 the much anticipated resort has the town buzzing with excitement and speculation. Watch this space.

Along with the developments above there is a list of New Development Applications currently awaiting approval.

To view or learn more about any of the developments listed above make sure to contact Nanci Fulton today.

Nanci has been selling real estate in Squamish for over 25 years and is professional, experienced and passionate about the Squamish real estate market.

7 Reasons Why Squamish is an Awesome Place to Live

Mon, 21 Sep 2015 21:40:00 GMT

Squamish is quickly becoming one of the most sought after places to live. Here’s why...

If you haven’t heard about the coastal town of Squamish, BC you must live on the other side of the world or under a rock. The New York Times recently rated Squamish as one of the top 52 places to go (in the world) and if that isn’t enough CNN declared Squamish as the mountain town to visit after the official opening of the town's Sea to Sky Gondola in 2014. With a population increase of 15% in only five years- young, educated and adventure driven people are flocking to Squamish and calling it home.

Being a resident and realtor in Squamish for over 25 years I have seen the town transform from a small community of barely 10,000 to a booming adventure hub of nearly 20,000. Squamish as a place to live is now more desireable then ever before; here are my top 7 Reasons Why Squamish is an Awesome Place to Live.

1. Breath-taking Mountains

Squamish is situated in a Valley at the mouth of Howe Sound and is framed by stunning granite mountains. The iconic Stawamus Chief is the second largest granite monolith in the world attracting a plethora of mountain enthusiasts each year to climb, hike and explore. For those who enjoy being close to nature and love playing or pondering on mountains then Squamish is sure to inspire.

2. Prime Location

Pre-2010 Olympics the Sea to Sky Highway, which connects Vancouver to Whistler, underwent a 600 million dollar upgrade. Squamish has been reaping the rewards of this investment ever since and it is now easier than ever to travel from Squamish to Vancouver or Whistler; about 40 minutes on a good day. Situated in between one of the world’s best ski resorts and one of the world’s most liveable cities, can you imagine a better location?

3. Family-friendly Atmosphere

The influx of young couples and professionals moving to Squamish has made it a great family-friendly town to raise children. The average age of the population in Squamish is 37 and in the last census (2012) there was a whopping 40% increase in kids from the census 6 years prior (BC average was 9%). The small town community, great school system, low rates of crime and proximity to nature make Squamish an ideal place to raise a family.

4. Activities Galore

Squamish has been unofficially named the Recreation Capital of Canada due to the number of outdoor activities available. In the summer take your pick from wind surfing, kite boarding, rock climbing, mountain biking, sailing or hiking. In winter it’s only a 40 minute drive to Whistler for the best skiing and riding in the world or you can snow-shoe, cross country ski, skate or sled right in your own backyard. Brennan Park Leisure Centre has a great pool and ice-rink with loads of activities and there are plenty of community programs and facilities for art/culture, sports and culinary interests.

5. Weather

With four diverse and beautiful seasons, Squamish is a temperate oasis when it comes to weather. Yes, it does rain in Squamish however the rain is mostly concentrated in fall and winter (when the rest of the country is experiencing sub-zero temperatures). The rain keeps the town beautiful and green, it hardly ever gets below 0, and the summers offer the most spectacular sunny days in an amazing picturesque setting.

6. Live-work-play lifestyle

What has made Squamish so popular over the last few years is the number of professionals from Vancouver moving to Squamish to live and play while they do the easy commute to work during the week. It’s an obvious choice for many: A snail-paced commute through horrendous traffic to the suburbs of Greater Vancouver or a glorious drive on one of the most scenic highways in the world. In Squamish the living is easy, the play is exciting and the work is accessible.

7. World class events and attractions

Squamish is making a name for itself with big events such as the Squamish Valley Music Festival and the Test of Metal. Add to that the newly built Sea to Sky Gondola which has taken the area by storm attracting an increase in visitors to the region by 36% the year it opened (2014). If that’s not enough take a short drive to Whistler or Vancouver for your pick of world-class events and attractions.

So there you have it, 7 Reasons Why Squamish is an Awesome Place to Live. Come see it for yourself! Squamish is still affordable compared to Vancouver (but not for long!) If you can see yourself living in Squamish, then view the current properties on the market and arrange a personal tour of the town.