Understanding the Squamish Real Estate Market: January 2023 Insights

Dated: February 7 2024

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Janury 2023 Squamish Real Estate Stats


Understanding the Squamish Real Estate Market: January 2023 Insights


The Squamish real estate market has entered the new year with some intriguing shifts that potential buyers and sellers should take note of. As reported by Macdonald Realty and the Real Estate Board of Greater Vancouver, January 2023 shows a dynamic market landscape, particularly favoring sellers in the condo segment. Let's delve into the numbers and see what they might mean for you.

Market Overview


Houses: The average benchmark price for a house stands at $1,470,900, reflecting an 11.5% decrease from the previous year. Despite the drop in prices, listings have lifted by 59.5%, with 67 homes on the market. Sales, however, have seen a dip of 38.5%, with only 8 transactions completed.

Townhomes: The townhome sector shows more stability in pricing, with a slight decrease of 2.2%, bringing the average to $961,600. Listings have increased by 38.5%, offering 18 townhomes for sale. Similar to houses, sales have dropped by 58.3%, with just 5 townhomes sold.

Condos: Condos experienced a 5.0% price correction, setting the average price at $538,800. This sector is quite active in terms of listings, showing an increase of 44.4% with 26 condos available. Sales have decreased by 42.9%, with only 4 condos sold.

What This Means for Sellers


The current data suggests a seller's market for condos, where demand outpaces supply. This is an opportune moment for condo owners thinking of selling, as the reduced number of sales coupled with increased listings suggests that buyers are active and looking for the right opportunity.

For houses and townhomes, the market presents a mixed bag. While prices have decreased, the significant increase in listings implies that sellers may face more competition. It will be essential to price homes competitively and ensure they are well-presented to stand out in the market.


What This Means for Buyers


Buyers looking at houses and townhomes in Squamish may find more negotiating power due to the lower sales activity and price reductions. The increase in listings provides more options to choose from, potentially without the pressure of a bidding war.

For those interested in condos, the market is tighter, and making a swift, competitive offer may be necessary. However, with the price drop, it might also be the right time to secure a condo at a more affordable rate than in the previous year.

Final Thoughts


While the market appears to be slower for houses and townhomes, condos remain a hot commodity in Squamish. It's crucial to consider these trends within the broader economic context, including interest rates and the overall health of the economy.

Whether you're looking to buy or sell, staying informed and working with a knowledgeable real estate professional can help you navigate the market effectively. For personalized advice and the latest updates on the Squamish real estate market, get in touch with me.

Remember, each property and situation is unique. These numbers provide a snapshot in time of the market, but the right strategy will depend on individual circumstances.

Stay tuned for more real estate market insights and feel free to reach out with your questions and comments.

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Mike Jones

Having lived in Squamish and the Sea to Sky corridor for over 20 years, Mike has enjoyed life as a professional firefighter, a professional mountain biker, a husband and a dog dad. The trails, the mou....

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