Recently, regional media made some front page headlines that…. “gasp”….. prices had ‘surprisingly’ fallen by “as much as” 15% in the last year in Whistler. Perhaps this was surprising to those not familiar with the Whistler market but not to us as we have been reporting a consolidating market since 2008.

The assessment report actually indicates an average decline for Whistler of 6% which is consistent with what was occurring in the marketplace 12 to 18 months ago. This was a trend that began in 2008 with the onset of the financial crisis. It continued well into late 2010 and was experienced in every resort area in North America and every town in BC except for the Westside of Vancouver.

The following points should be made:

• Every property is unique and every buyer has unique criteria when considering a purchase. An assessed value is not a report card about how value is, or should be determined nor is it an indicator of a trend. It is simply an estimate of market value at a point in time based solely on historical data that can be as much as two years old.

• Sales activity, as previously reported in this newsletter, has increased in the last calendar year and average prices (except in some specific cases) are largely unchanged and have been marginally higher in most sectors.

Assessed values do not reflect what is happening in today’s marketplace.

With significant wins in December and January and with February and March pacing well ahead of last year, this winter is shaping up to be one of - if not the - best winter season in recent years (post the 2008-recession) with regards to room night volumes.

Please note some highlights below:

Business Levels in Whistler:

• This past December was our busiest December on record in terms of room nights and saw a double digit increase over last winter.

• January is looking very strong compared to last year, and February, March and April are all pacing ahead.

• This winter is on track to be more than 10% ahead of last winter in terms of room night bookings.

Several factors affecting the positive results include:

• The success of Tourism Whistler’s efforts, which include:

• Enhanced Whistler profile from increased investment into brand marketing in key target markets - aimed at leveraging the global awareness garnered from the 2010 Winter Games.

• Gains in early bookings through a resort-wide early-booking program in partnership with our in-resort mountain and hotel stakeholders and our in-market tour operators.

• Significant interest generated by the Whistler Sabbatical Project - Tourism Whistler’s 2011/ 2012 winter marketing campaign.

• Whistler’s snow advantage - particularly compared to many major U.S. ski resorts.

Considerations:

• The volatility in the international economic climate has resulted in a shift in consumer behavior which experts suggest is permanent. How people spend has changed and travellers are seeking greater value for money than ever before.

• Regardless of budget - from moderate to luxury - people are looking to get the biggest bang for their buck - and Whistler is continuing to work hard, ensuring we deliver upon that.

We recognize how fortunate we are. Mother Nature has been very kind to Whistler this season - and we’re pleased to see other resorts starting to receive snow, as that is good for the entire ski industry for the long-term.

Barrett Fisher
President & CEO
Tourism Whistler

Real Estate sales in Whistler showed a significant increase in sales activity in 2011 as compared to the prior two years. Overall sales activity increased by 18% in 2011 as compared to one year ago. All of the major categories (single family homes, condos townhouses and shared ownerships) experienced double digit increases in unit sales with buyers focused on properties that suited family lifestyles and were perceived to be good value for money.

Overall, the total value of real estate sales also rose in comparison to last year. The total value of reported sales increased by 6% (up to $363,665,000) for the calendar year. Most categories experienced a marginal gain in average values. That being said, outlier events continued to skew average numbers significantly so determining a reliable analysis of the market by using average values should be done with caution.

For 2011, the average sold value of a single family property in Whistler was $1,508,000, a condominium was $389,000, a townhouse was $657,750, a fractional interest was $124,000, and a building lot was $706,000.

The vast majority of sales in the Whistler area continue to be properties selling under $1,000,000. Given the dominance of medium density development (condos & townhouses) as a percentage of all properties in Whistler, it is not surprising that over 80% of all transactions in Whistler fall below this $1,000,000 mark.

Properties above $1,000,000 continued to sell at a similar pace to last year, with the luxury market (over $2,000,000) remained active despite a continuing consolidation phase of the market cycle as value buyers continue to pursue the best homes in the best locations.

The turnaround in market activity indicates that buyers have shaken off some of the uncertainty that resulted from the past financial crisis and are actively looking for purchases that demonstrate clear, long term value.

Whistler is back on the resort and recreational property buyers’ radar as good value for money combined with a world class lifestyle and recreational experience! We expect continued improvement in sales and an improvement in values in the year to come as a result.

Whistler woke up to fresh snow all over the valley this morning and 12cm of powder on Whistler Blackcomb! See you on the mountain …..

The sounds of Fitzsimmons Creek and crisp mountain air surround you. The suns rays stream through the trees. There are few places as serene, and yet as central, as Fitzsimmons Walk. Each residence captures the exquisite beauty of your surroundings, blending rich architectural detail with alpine elements of timber and stone. Inside, vaulted ceilings and expansive windows create an open, airy environment, which brings the beauty of the mountains to the comfort of your living room. This intimate community offers unique view corridors and a stunning valley location that puts the ski runs of both Whistler and Blackcomb right in front of your eyes. With four-season recreation at your doorstep and the amenities of the Village an easy stroll away on the Valley Trail, live here year-round or realize the potential of your investment through nightly rentals.

SOLD NOVEMBER 2011 $1,950,000

www.fitzsimmonswalk.com 2009 Georgie Award Winner - Best Townhouse Development

This year, for the first, time non-resident property owners in Whistler will be able to cast their ballot by mail if they can’t get to Whistler to vote in person.

Now that the Olympics are fully behind us, it is time for Whistler to look forward to new challenges. Increasing scrutiny of municipal spending insures that our next leader will need to be experienced and competent.

To download the instructions to cast your ballot by mail in vote go to www.whistler.ca or email us and we will send you the form. Additionally we will have a complete application package available at our front desk if you would like to stop by.

Whistler Blackcomb 2011/2012 Season Kick Off Video from Sherpas Cinema from Whistler Blackcomb on Vimeo.

When you visit the Whistler Real Estate Company Ltd office this summer, you may notice a change to the small sitting area outside.

Whistler Real Estate is currently renovating and enhancing this area and planting flowerbeds as a memorial to our associate and good friend, Arv Pellegrin.

This was one of Arv’s favourite spots to sit and talk with friends and members of the community and has long been enjoyed by our staff as a place to view the mountains and enjoy the sunshine. Designed by Tom Barrett and constructed by Mike Tyler, we hope that it will be a place for all to enjoy and a fitting tribute to a true gentleman and one of Whistler’s pioneers – Arv Pellegrin.

Summer is in full swing and with it comes fabulous sunny days filled with outdoor adventures and hanging out on the most incredible patios and decks with a cool beverage and good friends.

But Whistler summers aren’t just enjoyed by its human population.

The Resort’s famous black bears can also now be found enjoying the sunshine and abundant natural food sources along alpine trails and in meadows, in the valley forests – and yes – sometimes even in Whistler Village and its neighbourhoods. Whistler is bear country, and locals try to live in harmony with the bruin population by following some simple rules.

Never approach or corner a bear, because although they look all cuddly and sweet, they are wild animals that are unpredictable.

If you do encounter a bear – don’t run, as this may cause an instinctual predatory reaction in the bear, and bears can outrun humans. Don’t make any sudden movements.

The best thing to do is to try to make yourself look bigger – raise your arms – and calmly but firmly tell the bear to go away. You can also try backing slowly away, but always give the bear an exit or means of escape.

Remember to never feed a bear or leave garbage where bears can get to it easily. Once a bear eats human food, it will likely never return to natural sources, and will eventually become a danger to people.

By following these simple rules, and leaving the bears to enjoy the summer months on their own, locals and visitors help prevent wildlife conflicts, and keep Whistler a special community for people and animals.

Located in one of Whistlers most sought after neighbourhoods, this stunning home offers over 3500 square feet of open concept living space and impeccable finishing. The interior features wood floors, radiant heat, granite, limestone, wrought iron, Miele appliances, 3 fireplaces, 450 square foot games area and nanny quarters. Exterior boasts heated driveway & decks, private hot tub, views of Blackcomb Mountain all within a few minutes’ walk to the Village.

$2,495,000

View this listing 7432 Treetop Lane