Seller’s market continues to strengthen.
Home buyer and seller activity reached unprecedented levels across Greater Vancouver in March. Whistler experienced a 195% increase in sales over 2020, and Squamish saw a 189% increase in sales.
“In March, residents bought and listed homes across our region at levels not seen before,” - REBGV. “This surge in activity is increasing upward pressure on prices. We’re beginning to see double-digit price gains for single-family homes and townhomes over the last 12 months.”
Compared to the same time last year, March 2021 saw Whistler average sale prices increase by 12% in the detached house category, 10% in the condo category & 15% in the Townhouse category. Number of sales also increased across all three categories: 122% more detached house sales, 264% more condo sales, and 200% more Townhouse sales. These big leaps in sale volumes and prices has resulted in super low levels of listing inventory and continued strong demand. “Today’s activity can be attributed, in part, to an economy that’s showing signs of recovery, historically low interest rates, high demand for space, and increased household savings,” - REBGV.
Squamish is showing similar signs of upward pricing pressure with average price gains in all sectors compared to last year. Notably the Squamish market Average Sale Price has exceeded $1m for the first time. Contact R&R today for property valuations and comparable sales information specific to your property.
~ Ron & Rachel
Market statistics gathered from WLS (Whistler Listing Service), REBGV (Real Estate Board of Greater Vancouver) & BCREA (British Columbia Real Estate Association). Photo Credit: Tourism Whistler - Mike Crane