December Summary for Whistler
The REBGV reports that residential home sales in Whistler totaled 19 in December 2018, a 55.4 per cent decrease from the 40 sales recorded in December 2017, and a 14.9 per cent decrease from November 2018 when 47 homes sold.
The total number of homes listed for sale on the MLS® system in Whistler in December was 200. This represents a 57.3 per cent increase compared to the 127 homes listed in December 2017 and a 2 per cent decrease compared to November 2018 when 204 homes were listed.
While the sales are not what we were seeing between 2015 through to 2017, there are still buyers out there looking to purchase. Sellers simply will need to be prepared to have their properties sit on the market longer and they will need to be more price sensitive.
The REBGV reports that residential home sales in Squamish totaled 13 in December 2018, a 65.8 per cent decrease from the 38 sales recorded in December 2017, and a 58.1 per cent decrease from November 2018 when 31 homes sold.
For all property types, the sales-to-active listings ratio for December 2018 is 10.1 per cent. By property type, the ratio is 2.8 per cent for detached homes, 15.2 per cent for townhomes, and 12.2 per cent for apartments. Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.
Sales of detached homes in December 2018 reached a mere 2 sales, a 77.8 per cent decrease from the 9 detached sales recorded in December 2017. The benchmark price for a detached home is $1,699,500. This represents a 3.5 per cent decrease from December 2017 ($1,760,500) and a 0.1 per cent decrease compared to November 2018 ($1,701,800).
Sales of apartment homes reached 10 in December 2018, a 44.4 per cent decrease compared to the 18 sales in December 2017. The benchmark price of an apartment home is $496,900. This represents a 2 per cent decrease from December 2017 ($507,500) and a 2.9 per cent decrease compared to November 2018 ($511,500).
Attached home sales in December 2018 totalled 7, a 41.7 per cent decrease compared to the 12 sales in December 2017. The benchmark price of an attached home is $882,000. This represents a 3 per cent increase from December 2017 ($856,00) and a 2.8 per cent decrease compared to November 2018 ($907,200).
December Summary for Squamish
The REBGV reports that residential home sales in Squamish totaled 13 in December 2018, a 65.8 per cent decrease from the 38 sales recorded in December 2017, and a 58.1 per cent decrease from November 2018 when 31 homes sold.
The total number of homes listed for sale on the MLS® system in Squamish in December was 193. This represents a 70.8 per cent decrease compared to the 113 homes listed in December 2017 and a 19.9 per cent decrease compared to November 2018 when 241 homes were listed.
For all property types, the sales-to-active listings ratio for December 2018 is 6.6 per cent. By property type, the ratio is 7.4 per cent for detached homes, 6.5 per cent for townhomes, and 5.8 per cent for apartments: all property types diving well into a buyers market, as clearly indicated by the graph below.
Sales of detached homes in December 2018 reached 7 sales, a 50 per cent decrease from the 14 detached sales recorded in December 2017. The benchmark price for a detached home is $975,600. This represents a 4.6 per cent decrease from December 2017 ($1,023,000) and no change compared to November 2018 ($975,600).
Sales of apartment homes reached 3 in December 2018, a 72.7 per cent decrease compared to the 11 sales in December 2017. The benchmark price of an apartment home is $455,900, only $41,000 less than the benchmark for Whistler condos. This represents a 1.9 per cent decrease from December 2017 ($464,900) and a 4 per cent decrease compared to November 2018 ($475,000).
Attached home sales in December 2018 totaled 3, a 76.9 per cent decrease compared to the 1 sales in December 2017. The benchmark price of an attached home is $666,300. This represents a 0.4 per cent increase from December 2017 ($663,900) and a 2.7 per cent decrease compared to November 2018 ($684,800).
If you are wondering what your home is worth, or would like to be kept updated on market trends, contact me as I would be pleased to discuss the current market, your real estate goals or conduct a free appraisal of your home, with no obligation.