As we move deeper into the fall we all note the changing conditions and temperature. The same applies to the Squamish real estate market and those changing conditions are even more evident now that we are well into the fall season. Here’s a temperature check…

Prices continue to correct in favour of buyers – who are mostly taking their time shopping, and frankly, why wouldn’t they? With a huge injection of new listings over the past two months there is more to choose from, and more supply means a more competitive market for sellers.

Patient buyers are taking advantage of favourable conditions to negotiate solid deals and smart sellers are doing whatever they can to attract a buyer and be the next local sale – before prices correct further, which they definitely will. Are we still seeing some “over-listing”? We are. But those properties will sit and those sellers will learn the hard way as the passage of time erodes value.

With that said, no matter which side of the table you’re on, be careful if you’re considering waiting for “something better”. The waiting game is not always worth it. If you’re shopping and the right property presents itself, make your deal and settle into your new home. If you’re selling, the buyer at your table is your best buyer – especially in a declining market – make your deal and move on.

Finally, I’m expecting a long correction. We’re already about 18 months in, and with the media shining their light on real estate markets across Canada, it has become VERY evident that this correction is not a flash in the pan. Squamish is somewhat insulated from other markets, but we are overdue for this change, and I’m of the opinion that it’s largely favourable.

If you’re thinking of buying or selling, I can help you make a not-sugar-coated, informed decision.