Market Report

Market Report

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.

Interest in an investment at Whistler continues to be high and this combined with the restricted supply has led to a continued upward movement in values. An increased attention to luxury properties (over $2,000,000) in 2017 has moved the dial statistically as almost 13.5% of all transactions occurred in this segment.

Chalets: The median transaction value of a single family home is 2.04 million dollars, an increase of 19.5% since the end of 2016.

Condos and Townhomes: Townhouse median values have risen to $899,000, an increase of 11%. Median condo values currently sit at $487,000, an increase of 24%.

To note each segment is best defined as a ‘micro’ market, so individual situations may vary significantly from the statistical average.

Going into winter we expect the existing framework of supply and demand to be the determining factors impacting activity and sale values. The new energy and interest generated by the new ownership of the mountains by Vail Resorts combined with our growing traditional target market in Greater Vancouver, a predictable economic outlook, and the expectation of a great snow year should insure an active season for the community and the real estate market.

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.

 


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.

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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