Let’s talk about the welcomed return of the Whistler and Pemberton Real Estate markets in February.

In Whistler, there were 42* sales in February, a sharp increase from the 19* sales seen in January. This ties October 2022 for the highest number of sales Whistler has seen in a month since April 2022, when the heated pandemic market really slowed down. Inventory remains quite low with 212* units on the market. Notably, days on market for chalets decreased significantly both month-over-month and year-over-year.

In Pemberton, there were 5 sales in February – two single family, two townhomes and one condo. Inventory has improved slightly from December and January and currently sits at 54* units, which is about 13% below the 5-year average. Median sales price essentially remained even or increased for single family, townhomes and condos when compared to January, while days on market decreased significantly for both single family and townhome units.

With spring approaching, there are hopes that we will see a more typical spring market with a relative influx of inventory in both Whistler and Pemberton to keep the market momentum. From an economic standpoint, we are awaiting the next Bank of Canada interest rate announcement on March 8, but many experts expect the current rate to hold as inflation has decreased significantly from its summer 2022 peak and Canada’s GDP growth flatlined at 0% in Q4. A rate hold may bring more confidence to those looking to make a property purchase so keep checking in with your potential buyers and potential sellers, as increased confidence coupled with a hopeful increase in inventory will drive our markets.

As always, please contact me for more information on any properties you see listed in Whistler or if you would like information on the market in general.

This email address is being protected from spambots. You need JavaScript enabled to view it.This email address is being protected from spambots. You need JavaScript enabled to view it..

Executive summary for the 3^rd Quarter of 2022 

Inflation and rising interest rates continue to dominate the headlines, leading many buyers and sellers to assess how these factors will impact their housing options. Sales reached near historic lows and the number of active listings continues to inch upward, causing home prices to recede from the record highs set in the spring of 2022. That said prices remain up year over year in most market segments.  

Inside the numbers:

Inventory levels have risen approximately 29% from the second quarter 2022, but we are still 37% below the 10-year average. The median days on market for single family homes in Whistler in Q3 was 55 days, 43 days for townhouses, and 31 days for apartment homes. While the number of days on market has increased significantly compared to both the second quarter of 2022 and the same quarter last year, these numbers are relatively normal compared to historical levels. 

Sales to active listing ratio for October 2022:

For all property types, the sales-to-active listings ratio was 17.51 per cent 

Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months. 

The current market conditions can best be described as a return to average.  The cost of borrowing has increased significantly, and buyers do not have the same sense of urgency which has created a much more balanced market. All that said, the local fundamentals for Whistler and Pemberton remain strong, we are fortunate to live in an area with an abundance of natural and man-made amenities that people find extremely desirable. 

Click here to view the entire Market Update. 

As always, please contact me for more information on any properties you see listed in Whistler or if you would like information on the market in general.
This email address is being protected from spambots. You need JavaScript enabled to view it.This email address is being protected from spambots. You need JavaScript enabled to view it..

As we take a look at the third quarter of 2019, we are happy to report that the real estate market activity in Whistler stayed busy. After a slower than average second quarter, activity levels have returned to that which we have been experiencing for the last six quarters. We have seen that the total number of listings has increased from its historic low of two years ago, and time on the market for sellers has lengthened (depending on the type of property it is). The current market conditions can be described as mostly balanced, with a slightly favourable framework for sellers in specific housing types.

Within the market sectors, the overall single-family market remains steady with an average sales value of $2,968,000. Due to the high demand for properties that generate short term rental income, condominiums have been the top performer so far this year. The average transaction value has risen by 13% to $751,000 since the start of the year. The townhouse market has been slower largely due to a lack of opportunity (rather than a lack of buyer interest) and as such has seen a 10% drop in average sales value to $1,367,967 since the start of the year.

Click here to view the entire Market Update.

As always, please contact me for more information on any properties you see listed in Whistler or if you would like information on the market in general.
This email address is being protected from spambots. You need JavaScript enabled to view it.This email address is being protected from spambots. You need JavaScript enabled to view it..

We are transitioning back to a historic average level of sales that we are used to in the Whistler area. What we are seeing in most market segments is a much more balanced market where Buyers have the opportunity to explore their options and Vendors, to realize a sale, need to ensure their property is competitively priced and offers good value.

If you would like to know how the current market trends will affect your ability to buy or sell please don’t hesitate to contact us.

This email address is being protected from spambots. You need JavaScript enabled to view it.This email address is being protected from spambots. You need JavaScript enabled to view it..

Market activity continues to be slower both as compared to a year ago and to the month of July. If this seems repetitive, I apologize but I think it is safe to say it is not a market  pause : but a new market reality. Individual categories differ greatly with single family being the hardest hit and shared ownership showing the most resilience in terms of number of transactions.

Despite the drop in sales activity, average transaction values are still holding up with a 6% increase. I suspect most of this occurred in the first quarter of the year. I expect we will see some downward pressure on this as the drop in activity starts to impact decision making. I want to emphasize as I did last month that the market is not “crashing” or “falling”, it is simply moderating/consolidating to a historically normal framework. 

If you would like to know how the current market trends will affect your ability to buy or sell please don’t hesitate to contact us.

This email address is being protected from spambots. You need JavaScript enabled to view it.This email address is being protected from spambots. You need JavaScript enabled to view it..

Market activity continues to be slower both as compared to a year ago and with the month of June. For the first time in a number of years we seem to be paralleling the market trends in the lower mainland. This suggests that uncertainty over government policy and future interest rate movement are impacting buyer confidence.  Certainly, buyers are taking a wait and see approach to things right now and need to be convinced that they are making the ‘right deal” so a sound well researched list price is more important than ever.

Despite the drop in sales activity prices are still holding up with a 7% increase from a year ago at this time. Some have asked if our market is crashing? To them I say there is no factual basis to suggest that our market is “crashing” it is simply moderating/consolidating to a historically normal framework.

If you would like to know how the current market trends will affect your ability to buy or sell please don’t hesitate to contact us.

This email address is being protected from spambots. You need JavaScript enabled to view it.This email address is being protected from spambots. You need JavaScript enabled to view it..
  

Real estate sales in Whistler continued at a steady pace during the first quarter of 2018. Sales activity improved significantly over the previous quarter as buyer interest stayed strong. This resulted in continued increases in average sales values in all categories.

Compared to the final quarter of 2017, overall sales activity through the first quarter of 2018 was up 23%. However, it was down slightly (10%) as compared to the same quarter one year ago. Overall average and median values on the other hand, have continued to increase since year-end 2017. The average transaction value in Whistler has increased 13% (to $1,309,300) and the median value has increased 15.6% (to $995,000).

Click here to view the entire Market Update.

As always, please contact me for more information on any properties you see listed in Whistler or if you would like information on the market in general.
This email address is being protected from spambots. You need JavaScript enabled to view it.This email address is being protected from spambots. You need JavaScript enabled to view it..

I wanted to start off by thanking all of you, my family, friends and clients who helped to make this our most successful year ever. Thank you, Thank you, Thank you! These are interesting times in our market as upward price pressure remains with strong demand and extremely limited supply. I hope that you will find this market up-date informative. Please do not hesitate to contact me if you would like to know how the current market conditions affect your ability to buy or sell in Whistler. FYI I have a couple of tickets available for The View From Here event we have organized for this Saturday, if you are interested in attending please give me a call.

Click here to view the Market Update.

As always, please contact me for more information on any properties you see listed in Whistler or if you would like information on the market in general.
This email address is being protected from spambots. You need JavaScript enabled to view it.This email address is being protected from spambots. You need JavaScript enabled to view it..