| Squamish Real Estate Market Review 2010 |
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| Written by nanci |
| Friday, 07 January 2011 14:27 |
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After the roller coaster real estate market of the last few years, the Greater Vancouver housing market is beginning to stabilize and things are looking positive for home buyers and sellers in Squamish. Climbing out of the global recession housing prices appear to be stable in Greater Vancouver, in some areas exceeding pre recession levels and maintaining a steady and slow trend for the time being. The Squamish Real Estate Market is looking positive with housing prices and sales stable. The average detached* house prices (* this includes manufactured & recreational homes on lease land) for Squamish have stayed steady around $500,000 in 2009 and 2010; attached houses (townhouses, duplexes) have increased from $344,000 to $365,000 and apartment/condos have stayed right around an average of $260,000. Average prices in Squamish have trended downward slightly over the past three years although up 17.5% from five years ago. These numbers support the belief that over the long term property values tend to rise. The Squamish Real Estate Market remains one of the most affordable areas in Greater Vancouver to own a home with the average detached home in Greater Vancouver costing $763,891 in 2010 and the average home in Squamish just $496,750. The total detached home sales in Squamish for 2010 was 172, down 13 houses from 2009. Attached homes in the Squamish segment of the Sea to Sky region showed 101 sales in 2010 as compared to 103 in 2009. Apartment sales for the region were down slightly with 79 in 2009 and 66 in 2010. These numbers support stability in the Squamish Real Estate Market and are consistent with sales in the majority of the Greater Vancouver Real Estate Board areas. Listings in 2010 are also similar to 2009 with detached listings just over 400 total with a 40% sale rate, attached listings around 250 also with a 40% sale rate and apartment listings down in 2010 to 185 from 250 with just over a 30% listing to sale ratio. In 2011 sellers can look forward to stable prices or modest price gains in detached, attached and apartment categories with some of the strongest housing price growth expected to continue in Greater Vancouver. Buyers will have the opportunity to shop a variety of homes on the market with time to research and become knowledgeable and comfortable with the Squamish housing market in one of the most affordable regions in the Greater Vancouver area.
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