It's the beginning of the month and the start of a new year so that means the market stats are here! I do have all the stats across the board but since Squamish is my specialty, Squamish is what I'm going to talk about.
Overall, 2014 was a great year for Squamish. Prices are up all around from December 2013 to December 2014 and are as follows:
- Single Family Detached Homes: up 7.9%;
- Townhouses: up 7%; and
- Apartments/Condos: up 15.1%
Compared to the same time last year, sales are up as follows:
- Single Family Detached Homes: up from 8 sales in December 2013 to 14 sales in December 2014;
- Townhouses: up from 10 sales in December 2013 to 17 sales in December 2014; and
- Apartments/Condos: up from 3 sales in December 2013 to 6 sales in December 2014.
We are all eager for another great year in real estate for 2015 but as we start the year off, Squamish is lacking inventory. There are many buyers just waiting in the wings for the right home to go up for sale so whenever anyone ever asks me when they should list, I say do it now! Why wait until the spring like all your neighbours and have that much more competition to deal with? Why not sell your home now when you know there are buyers just chomping at the bit to get a piece of the Squamish lifestyle? Many properties, when priced right, are going into multiple offers and because of that, buyers are acting quickly as they don't have the time to sit on the the fence as in previous years.
If you're interested in knowing the stats for other areas in Greater Vancouver, you'd like some information on listings in your area or you just want to catch up over coffee, feel free to contact me any time.
All the best for 2015!