Market Report

Market Report


The Whistler real estate market experienced another active year in 2017, resulting in significant price increases in most sectors and over one billion dollars of transactions. Despite the total reported sales falling below 2016, strong buyer interest continued to drive valuations.

Total transactions decreased by 16.2% compared to 2016, however this was more than offset by a 26% increase in the average transaction price (currently $1,163,392 compared to $901,451 at the end of 2016). The first half of 2017 was particularly strong due to a peak in buyer interest however as the number of properties offered for sale continued to decline market activity slowed.

Luxury Market: The luxury market (properties valued at over $2 million) continued to grow as a result of increased valuations. 122 properties changed hands in 2017 representing approximately 14% of the total transactions. With an average price of $3,634,000 this segment represents 40% of total market value.

Chalets & Townhouses: Larger, family orientated properties experienced the highest level of interest, resulting in double-digit rates of appreciation. Average single-family home values in Whistler rose by 26% to $2,835,000 and average townhouse values rose by 28% to $1,163,000. As a result of this high level of interest, the number of family-style properties being offered for sale has dropped significantly, which is driving an upward price movement.

Condos: The condominium market once again showed the highest level of activity with over 300 reported transactions (35% of the overall market share). Values in this market sector increased by 21% since the end of 2016.

Strong buyer interest continues to drive values upwards and reduce the number of opportunities available, with all segments of the market currently seeing the lowest number of properties offered for sale in modern memory. This will likely mean activity levels will continue to drop despite strong buyer interest, and prices will feel upward pressure. Continued double-digit rates of appreciation are unrealistic to expect to continue so anticipating a moderation of price increases in 2018.

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 2017

Sales activity in the Whistler marketplace continued to be brisk throughout the 3rd quarter of 2017, albeit at a slower pace than the first half of the year. Overall total number of sales was 16% lower than the previous quarter, and 13% below the same period as a year ago. This still represents a historically above average pace of business and can largely attributed to the low number of properties being offered for sale.

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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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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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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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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