I hope you’ve been keeping well and are enjoying the longer days as we move into spring. Nature is sprouting in Squamish, while Whistler is getting the best snow conditions of the year. March/April have been the best months of the ski season the last few years!
When I turn off the news and focus on real day-to-day life, everything seems business-as-usual and I’m grateful for that. Now that we know the course which Trump has set for the US, it’s a good time to refocus on our own lives and goals, and not let the chaos distract us from getting on with our lives.
The spring market is coming fast and it will be interesting to see what happens. Last year’s spring market was one of the weakest in anyone’s memory, in which a surge of listings pushed inventories up significantly, while buyers remained on the sidelines all the way through the summer.
As mentioned in last month’s (incomplete) newsletter, the North Vancouver market was showing signs of strengthening and I pondered about whether that would ripple up the corridor. It did in Squamish, where a major shift has occurred in the past 4-6 weeks, particularly in the townhouse and single family market.
Fifty-one properties sold in Squamish in February, which is just below the 5-year average of 53 sales in February. Of these 51 sales, 34 sold for under asking, 9 properties sold for the asking price, and 8 properties sold for over the asking price. The median number of days that it took to sell a property in Squamish in February was down to 10 (compared to 20 in February of last year), with 35% selling in under 5 days. These conditions haven’t been seen in Squamish since the early months of 2022.
In Whistler, there were 43 sales in February, which is below the 5-year average of 66 sales in February. Of these sales, 30 went for under the asking price, 5 went for over and 8 went for the asking price. After a sharp drop in inventory at the end of 2024, sellers have been coming back into the market and inventory has started building again. The median number of days it sold to sell a property in Whistler was 32, compared to 26 last year.
Prices are more palatable at these lower interest rates, but the economic and political environment has been a tough pill to swallow. Overall, I maintain that it’s definitely not a bad time to be buying in both markets. These are amazing communities and build costs are only getting more out of control.
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Lindsay
604-612-1484
lindsay@lindsaymcivorrealestate.com
Follow me on Instagram @squamish_whistler_real_estate