Happy August, I hope you’ve been having a lovely summer.
Interest rates were dropped in Canada again in July, and while there hasn’t been an obvious market response, it has definitely affected sentiment as evidenced by a noticeable uptick in the number of people reaching out to me and the number of views on my listings.
Whistler saw 33 sales in July, which is below the 5-year average of 53 sales in July. Of these sales, 23 went for under the asking price, 9 went for asking, and 1 went for over asking.
Squamish had 53 sales in July, which is above the 5-year average of 43 sales in July. Of these sales, 44 went for under the asking price, 5 went for asking, and 4 went for above the asking price. Over the past few months, Squamish has seen a rebound in sales volumes and competition for certain product is heating up.
After a strong industry response, some of the recent changes to the Residential Tenancy Regulation were amended. Effective August 21st, amendments will reduce the notice period to 3 months and the dispute period to 21 days when a landlord issues a notice to end tenancy on behalf of a purchaser. A 4-month notice period remains for landlords who intend to personally move into the rental or have a close family member move in. Tenants of these properties also still have 30 days to dispute a Notice to End Tenancy.
Reach out to chat anytime.
~
Lindsay
* If you’re curious about a property, don’t hesitate to contact me and I’ll take you for a tour.
* Thinking of selling? I’ll provide an assessment of market value and make a plan to get you the highest possible sale price in today’s market.
604-612-1484
lindsay@lindsaymcivorrealestate.com
Follow me on Instagram @squamish_whistler_real_estate