A Growing Supply of New Condos in Squamish — What It Means for Buyers and Sellers
You’ve probably noticed the number of new condos popping up across Squamish and in some cases, sitting unsold longer than expected. I wouldn't say it's a crash, but it does mark a turning point. After years of rapid pre-sales and limited supply, the local condo market is finally catching its breath.
How We Got Here
Over the last few years, Squamish saw a surge in development. Strong demand, low interest rates, and a growing reputation as one of B.C.’s most desirable small cities encouraged developers to build. But several factors have since shifted: construction costs soared, financing tightened, and higher mortgage rates have made buyers more cautious.
The result? A growing number of completed or nearly completed units that haven’t yet found their owners. Not because people don’t want to live here ( they do ) but because the pace of new inventory has temporarily outstripped active demand.
What This Means for Buyers
For buyers, a surplus isn’t bad news. It means more choice, more negotiating power, and less pressure to rush. We’re seeing incentives, flexible completion dates, and developers more open to creative deal structures.
If you’ve been priced out before or frustrated by bidding wars, this is your window to revisit the market. But approach it strategically: focus on quality of construction, strata health, and resale potential — not just short-term discounts.
What This Means for Sellers
For sellers, particularly those listing resale condos, competition has become real. Buyers are comparing older units to brand-new ones with similar pricing. Presentation, pricing accuracy, and timing now matter more than ever. Well-prepared listings are still selling, but those that miss the mark sit longer. Those trying to assign a pre-sale will probably have it toughest of all. Not being able to market on the MLS, no showroom to wow buyers, and the uncertainty of what the market will do in the future are tough hurdles and require a very specialized market plan as well as a pragmatic view towards pricing.
Looking Ahead
Squamish remains one of the most livable and resilient real estate markets in B.C. However, like every market, it moves in cycles. The current surplus will likely balance out over the medium to long term as population growth continues and developers moderate future releases.
For now, this is a market that rewards patience, knowledge, and strategy — not speculation. Whether you’re buying or selling, understanding where we are in the cycle is key to making the right move.
Posted by Scott McQuade on
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