About half a year ago in March, we at The Squamish Chief published a story looking at the three most 'affordable' detached homes in Squamish
Since March, the Bank of Canada has increased its interest rate from 4.5% to 5%. An announcement about the interest rate is expected next week. In March, the three homes we looked at had an average price of $1.205 million.
What, if any, change have we seen in home pricing since then?
Let’s dig into the numbers.
Bracken Parkway home
The most affordable detached home currently listed on REW.ca is on Bracken Parkway in Brackendale.
The four-bedroom, two-bathroom rancher is in a cul-de-sac and listed for $999,000.
“This fantastically located rancher has been lovingly maintained and has a recently renovated interior,” reads the listing.
The lot is said to be about 9,000 square feet plus it has a new dishwasher and hot water tank.
BC Assessment values the home at $1.079 million, so the listing price is about $80,000 less. It is listed at about the same value as assessed in 2022.
Sixth Avenue home
Next up is a two-bedroom, one-bathroom home in downtown Squamish.
Listed at $1.135 million, the home is located on a 6,000-square-foot lot near the estuary.
“Great holding property, for the potential to develop in the future,” reads the listing.
The BC assessment of the property for 2023 is $1,085,200 and the property experienced a drop in value. In 2022, it was assessed at $1,182,300.
But, the current assessed value is still up from its 2021 price, as it was assessed at $801,100 back then.
Kingswood Road home
Last, but not least is a detached home on Kingswood Road in Brackendale.
The two-bedroom, one-bathroom home is on about a 9,000-square-foot lot. It also has a separate studio suite. It is listed at $1,194,500.
“Situated on a quiet street, this home boasts a picturesque backdrop of a serene creek and quaint footbridge,” reads the listing.
In 2023, the property was assessed at $1.452 million, which was up from the 2022 assessment at $1.293 million.
Comparison with six months ago
Compared with six months ago, the average price between these three homes is $1.109 million next to $1.205 million, just under a $100,000 drop in price.
Also compared to six months ago, there were no detached homes listed for under $1 million like the Bracken Parkway home, though it is barely below $1 million.
Many factors play a role in the housing market and these three homes are different from the homes listed for sale six months ago. However, it seems if nothing else, prices are steady or have somewhat dropped since March.
Check out all the listings on REW.ca.