I hope you’re enjoying the transition to cooler weather and the return to your routines!
Squamish saw 30 sales in August, which is below the 5-year average of 45 sales in August. Of those sales, 27 went for under the asking price, 1 went for over the asking price, and 2 went for the asking price.
Whistler had 28 sales in August, which is significantly lower than the 5-year average of 57 sales in August. Of these sales, 1 went for the asking price and 27 went for under the asking price. Of note, Whistler also saw the number of single family houses on the market surpass 100 for the first time since the summer of 2020.
Many realtors have been looking to this fall as the time that we might start seeing more excitement in the market. With the unusually slow spring and summer market, in theory, there should be lots of pent up demand. Toss in the three successive rate cuts and it seems that we’re poised for a more active fall. On the flip side, borrowing costs are still quite high compared to where they were in the spring of 2022, and prices haven’t adjusted down a significant amount. This translates into the simple fact that borrowers remain strained to qualify for the product that seemed within reach a couple of years ago. The upshot is that I don’t feel we’re on a clear path in any direction, yet (for those interested in the data, I’ve included a selection of graphs below).
If you’re thinking of buying and can qualify, it’s a great time to be shopping, as there remains choice, the ability to negotiate, and a generally lower stress environment than when the market is booming. If you’re thinking of selling, you will need to be price appropriate and have your place looking as good as possible.
I am a quality, not quantity, realtor, and am proud of the results I’ve achieved for my clients! For my sellers, I go the extra mile to help you prepare your listing and get the most out of your sale. I’ve consistently been able to push the market and have set several complex/building and neighbourhood records in Squamish and Whistler, some of which still stand today.
For my buyers, I use my knowledge of the economy, home building, and renovations to negotiate you the best deal available. I frequently find windows of opportunity with market discrepancies and help my clients benefit from them.
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Lindsay
604-612-1484
lindsay@lindsaymcivorrealestate.com
Follow me on Instagram @squamish_whistler_real_estate