Market Report

Market Report

2020 YEAR END

Sales activity started slowly and then dropped to almost nothing in the second quarter, recovered and roared ahead to historical levels in the third and fourth quarters while slowing again in December.

Overall, for the year the total value of reported sales exceeded one billion dollars, and the total number of sales transactions increased by over 30 percent as compared to 2019.

The increase in demand can be attributed to a combination of historically low interest rates which improved purchasing power; significant wealth creation as a result of the K shaped economy; the attractiveness of small towns associated with health and safety around Covid concerns; and increased awareness of both the effectiveness and flexibility of remote working.

These factors led to a strong real estate market not just in Whistler and the Sea to Sky, but in smaller communities across North America. This strong demand in Whistler, however, resulted in a significant drop in the number of properties being offered for sale and values have increased in all categories of real estate in Whistler at year end as compared to the end of 2019.

The strongest segments of the market were in the single-family market (highlighted by a record number of transactions above $4,000,000, including a sale of $19,000,000) and the family-orientated townhouse market. As such these two categories accounted for almost 65% of the value transacted for the year.

The condominium market was slightly slower than 2019 but this slight slowdown had no impact on valuations.

As of the end of December, the average transaction value for the Whistler marketplace was $1,533,451, approximately a 22% increase from 2019.

Currently the average transaction value of a single-family home is $3,445,238 (median of $2,450,000). Townhouses are averaging $1,433,905 (median of $1,240,000) and condominiums are averaging a sales value of $839,590 (median of $675,000).

Click here to view the full year-end market stats

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.


QTR. 3, 2020

The third quarter of 2020 saw a significant surge in activity in the Whistler marketplace with all sectors returning to pre-COVID activity levels. This activity also moved sales values higher overall and all indications are that market activity in 2020, despite all the uncertainty, will exceed the market performance of 2019.

Like most recreational and small resort areas across North America, the Whistler marketplace experienced a very definite “V” recovery which can be attributed to the pent-up demand created in the second quarter of 2020, perceived COVID safety of small towns, and their political and personal safety, inflationary concerns, and wealth creation in the stock market.

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QTR. 2, 2020

As many have already stated, the first half of 2020 was an unpredictable time. The COVID-19 shutdown of day to day activities for over 60 days created unparalleled uncertainty both economically and socially. Although an essential service, real estate activity was severely impacted due to consumer uncertainty about the future, travel restrictions and health and safety concerns. This uncertainty about the future will continue to play a part in market activities going forward, although a more predictable environment is developing as the new reality becomes clearer.

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QTR. 1, 2020

Real estate markets in the first quarter of 2020 in Whistler and Pemberton followed trends experienced throughout southwestern BC with a strong and improving marketplace during January and February, followed by a slow down in March as result of a global and local shutdown of most parts of the economy and society due to the COVID-19 pandemic.

In the first quarter of 2020, Whistler recorded 110 new firm transactions compared to 151 in the previous quarter and 131 for the same quarter in 2019; this is largely attributed due to a 50% drop in activity during March YOY.

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YEAR END 2019

Whistler’s Real Estate market in 2019 began slowly, paralleling trends seen throughout British Columbia which began back in the second half of 2018 and continued into the first half of 2019.

However, a strong recovery in consumer confidence combined with low-interest rates and a strong tourist season saw the marketplace return to its historical levels of activity during the second half of 2019. Therefore, despite the total number of transactions being below that achieved in 2018 by 16%, the overall average transaction remained essentially unchanged from that achieved in 2018, finishing the year at $1,247,388.

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YEAR END 2018

After heightened and frenzied activity throughout 2015-2017, the Whistler real estate market has now entered a period of stabilization, with a cooling of market activity. Over the course of 2018, the volume of transactions dropped by 26% YOY and are at consistent levels seen prior to the peak of the Whistler market cycle in 2015-2017; the pace at which activity dropped was accelerated in the 3rd and 4th quarters by a rise in interest rates and new mortgage approval rules began to dampen buyer enthusiasm locally, regionally and nationally.

The total value of transactions reported to the Whistler Listing System for 2018 was approximately $828 million, down 18.2% YOY. However, despite a slowing in transactional activity, the average property value in Whistler has continued to increase to $1,250,168 – an increase of 7.5% from 2017.

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YEAR END 2017

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.

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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.

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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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E. & O. E. All listing information is from sources deemed reliable. However, no representation is made as to the accuracy or completeness thereof and should be independently verified.
JR - Whistler Real Estate
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