By Lisa Bjornson
After a number of years that demonstrated slow growth in real estate activity in Squamish, buyers have once again discovered the great value offered when considering a purchase in the Greater Squamish area. Sales activity is at its highest level in almost 6 years for the most recent four month period on a year-to-date basis. Although all market segments are experiencing strong interest, detached single family and condominium/ apartments are attracting the bulk of the interest from both investors and buyers looking for a new primary residence.
Buyers are now understanding that Squamish is very affordable when compared to the Lower Mainland and this is fueling the strong improvement in market activity. Based on the median sales price of homes as provided by the Greater Vancouver Real Estate Board, there are only two communities in the Lower Mainland with prices below those of Squamish. They are Maple Ridge and the Sunshine Coast. The median price for a single family home in Squamish is $539,000. This represents a 7.5% increase from last year.
Despite this slight increase, Squamish still offers great value if you compare median prices to those in North Vancouver at $1,095,00, Coquitlam at $750,000 or Burnaby at $1,000,000 for a single family home.
The same comparisons can be made for other housing types in the Squamish market. Squamish is not only a good choice for perspective homeowners but also as a real estate investment. In Squamish, rental vacancies are now below 2% and there is an extremely active rental market which is resulting in very competitive rates of return on investment.
As a gateway to all that the Sea-to-Sky corridor has to offer in terms of events and outdoor activities, Squamish has everything offer when it comes to lifestyle. Squamish’s proximity to both Vancouver and Whistler makes it an excellent alternative when looking for housing choices that will work if you are a commuter. On top of all that, Squamish has a friendly and healthy small town character that is perfect for any type of family. To understand the real inside story for what makes Squamish the right community for you, and why now is the right time to consider a move to Squamish, contact a local Real Estate professional to make the most informed decision on the Squamish property that will meet the needs of you and your family.
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