Market Report

Market Report

SUMMER 2017

Interest in Whistler real estate remained strong throughout the first half of 2017. Sellers continued to enjoy the benefits of a marketplace with limited inventory and strong levels of interest from home buyers and investors.

Historically low inventory continues to constrain activity levels below those achieved in the first half of 2016. However sales activity remains consistent over the last 12 months and is pacing to exceed that of previous years once again.

Driven by low inventory and continued strong buyer interest, the total value of transactions and the average transaction value has increased dramatically over the previous six month period; Total reported transaction value increased by almost 35% as compared to the previous 6 months, this resulted in the average transaction value in Whistler increasing by over 26% to $1,144,309 YTD compared to $904,360 a year ago.

Chalets: At the end of the first half the average single family home transaction averaged $2,729,000 due largely to an increased focus on higher priced properties during the first half of the year. The luxury market remained active with 13% of all transactions YTD being valued above $2,000,000.

Condos and Townhomes: Condominiums also saw a sharp rise in average value to $611,081, while townhomes moved up to $1,060,419.

Low supply and high demand will continue to be the factors driving market activity for the foreseeable future. General and local economic conditions suggest continued buyer/investor confidence going forward. Expected future changes in interest rates should not negatively impact the Whistler marketplace. It is also unlikely that the new government in Victoria will do anything that would compromise Whistler’s contribution to the tourism brand of BC. Whistler’s natural beauty combined with strong tourism programs and Vail Resorts name recognition will insure continued strong interest in the area going forward.

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.

 


SPRING 2017

Market activity has remained consistent from 2016 Qtr 4 to the first quarter of 2017. However, YOY market activity has slowed significantly due to historically low levels of inventory within Whistler. Ongoing buyer interest has remained high, and combined with limited supply levels the upward pressure on property values continues – YTD the average transaction value has increased by 13% to $1,025,323.

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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