Sometimes you have to zoom out to see what the market is actually telling you, and this newsletter is dedicated to looking at longer range charts to get a clearer picture of where we are and where we may be headed (charts below).
The past ten years encompasses a remarkable period in real estate: a housing boom, a global pandemic, near-zero interest rates, rapidly rising interest rates, inflation and one of the sharpest changes in buyer psychology we’ve experienced in decades.
There was an extraordinary run-up in values between 2020 and 2022, followed by a very real correction as interest rates rose and the frenzy disappeared. But what strikes me most when looking at these charts isn’t the correction—it’s what has happened since. Across many segments of both Whistler and Squamish, prices have spent the past several years moving within a relatively defined range. Condos have been softer, while detached homes and townhomes have generally shown greater resilience, but overall the story since the initial correction has been stability.
What has changed considerably is inventory. Both Whistler and Squamish have far more properties available today than they did at the height of the pandemic market. In Whistler, inventory fell to roughly 80 properties at its low point and is now back above 300. Squamish has seen a significant rebuilding of inventory as well. For buyers, that means more choice, more time for due diligence and, importantly, more negotiating power. You don’t need to chase every listing, and you don’t need to make the compromises that were often necessary a few years ago.
More inventory means buyers can afford to be selective, and the gap between a well-positioned property and an aspirationally priced one has become increasingly obvious. This isn’t a market where simply putting a property on MLS and waiting is enough. Pricing accurately, presenting exceptionally well and understanding exactly what you’re competing against matter. The good news is that the longer-term data doesn’t suggest buyers have abandoned these markets—it suggests they have become much more discerning about what they are willing to buy and at what price.
This fall, I expect a relatively stable but selective market, with meaningful opportunities for buyers who are prepared to act and successful sales for sellers who are realistic about today’s conditions. For buyers, I think the question is becoming less about trying to perfectly time the bottom and more about recognizing when the right property and the right negotiating opportunity present themselves. For sellers, it’s about understanding where your property fits in today’s market and positioning it accordingly.
~
Lindsay
604-612-1484
lindsay@lindsaymcivorrealestate.com
Follow me on Instagram @squamish_whistler_real_estate