Market Report

Market Report

YEAR-END 2016

2016 marked one of the most active years on record with over $1 billion worth of sales driven by significant price appreciation across all major segments; overall transaction volume increased YOY by 22% and YOY value by 12.6% to $901,765.

Chalets & Townhomes: Buyer interest was particularly strong in the first two quarters, resulting from continued favourable exchange rates, low interest rates and record breaking resort visitation. Large family orientated properties (single family and townhomes) observed the highest rates of appreciation with YOY values for single family homes increasing by 32% to $2,252,000 and townhomes increasing by 24% to $947,000.

Condos: The highest level of transactions was seen in the condo market, with over 400 transactions reported year-end and a marked 11.7% YOY increase in volume.

Condominiums and townhomes currently represent 65% of the total market leading to almost 70% of all transactions in 2016 were under $1,000,000.

We anticipate a decline in transaction activity across all segments as listing inventory approaches a historic low, despite strong buyer interest resulting in continued upward pressure on property values. However, external market factors remain unpredictable in their influence of our market, including interest rates, government and financial regulation and the impact of a Trump presidency in the US.

We are dedicated to keeping abreast of our market to ensure we provide you with a well-informed, and current strategic view of investment potential and advice on your purchase or sale. If you have questions, or would just like to chat about the current market, please email us or call 604-932-7670 any time.

 


FALL 2016

The third quarter of 2016 continued to demonstrate above average levels of sale activity and steady increases in value across all segments of Whistler’s real estate market. 2016 is currently on trend to be the second busiest year since 2002 for transactions with a YOY increase of 32%. Average transaction values for the whole market increased by almost 10% to $880,000 since January 2016.

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SUMMER 2016

A significant increase in total transaction volume, dollar value traded and average transaction value has been reported in the first six months of 2016 compared to the same period in 2015.

Market factors driving accelerated growth have remained consistent throughout 2016: strong interest in regional markets, favourable exchange rates and consumer confidence in both the market and resort.

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SPRING 2016

The first quarter of 2016 was highly active reporting a 63% YOY increase, a 26% increase over the last quarter of 2015; making this the most active period in the Whistler market since mid-2004. The increase in transactions has driven the average transaction sale price up by 4.2% to $840,000 in this quarter alone.

Market drivers contributing to the high demand in Whistler remain consistent from 2015: low interest rates, a strong US dollar, an intensively active real estate market in the Greater Vancouver area and Whistler’s ongoing positioning as a four-season resort.

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YEAR END 2015

The Whistler real estate market has seen continued growth for the past 5 consecutive years in both sales activity and sales value; the most recent data indicates market conditions have returned to those prior to the financial collapse in 2008/2009.

The resort’s continued efforts in positioning Whistler as a diverse, year-round destination has resulted in ongoing growth in Whistler real estate demand; low interest rates, a favourable Canadian dollar, and an active real estate market in the Greater Vancouver area are all contributing factors to the upward pressure on prices across all market segments.

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FALL 2015

The Whistler Real Estate market enters the 2015/2016 winter season on a high note; having experienced its highest level of sales activity during the last 12 months since 2010. Based on recorded activity for completed transactions and underlying trends in existing business, we forecast year-end value sales activity to exceed $675 million; a YOY increase of approximately 6%, and the highest value since 2007.

As a result of strong activity levels and continuing buyer interest, available inventory is at its lowest level since 2007, providing upward pressure on pricing and providing favourable market conditions for sellers.

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SUMMER 2015

Strong sales activity continues to characterize the Whistler real estate market in the first half of 2015. Favourable currency exchange rates, low interest levels, a reduced number of available opportunities, and strong demand for Canadian real estate among both domestic and international buyers has continued to support an upward trend in prices in most sectors of the market.

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JR - Whistler Real Estate