Summer is here and I hope you’ve been enjoying this glorious weather!
The market has seen more activity in the past couple months. In Squamish, there was 46 sales in April, of which 13% went for over the asking price, 15% went for the asking price and 72% went for under asking. The lower end of the market is responsible for most of the sales, with 41 of the 46 sales under the $1.5M mark.
In Whistler, there were 55 sales in April, with 5% going for over the asking price, 15% going for asking, and 80% going for under the asking price. Similar to Squamish, the lower end of the market made up the bulk of the activity, with 48 of the 55 sales being under the $3M mark.
Confidence has returned to the market as the Bank of Canada has been choosing to pause interest rates. Further pauses aren’t guaranteed if inflation numbers don’t continue to drop. However, inflation peaked in June last year and this should affect year-over-year data from June onwards.
The lower end of the market is always the most resilient and buyers are feeling a sense of urgency to jump in, as competition has heated up in that segment.
Have a great month and reach out anytime!
– Lindsay
For more updates and information, follow me on Instagram @squamish_whistler_real_estate
Call me: 604-612-1484
Email me: lindsay@lindsaymcivorrealestate.com