Market Report

Market Report

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.

Despite these lower levels of activity, values either remained steady or increased slightly; the overall average transaction value in the first quarter was $1,482,000 compared to $1,247,000 at the end of 2019. Dollar per square foot sales value has also remained steady and continues to range between $1,000 and $1,200 a square foot.  The luxury market (over 3 million) stayed very consistent compared to a year ago with 5 sales over $6,000,000 reported. This continues to show confidence in Whistler in the long term from high net worth individuals.

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, 2019

The third quarter of 2019 saw increased sales activity after a slower than average second quarter, bringing activity levels back to that of the last 6 quarters. The current market has stabilized from the frenzied conditions of 2015-2017, although overall sales values remain strong and relatively consistent.

Overall average transaction value YTD is $1,269,800 – a slight increase on values from the first quarter. Buyer demand remains strong with continued interest in the resort and high visitation levels.

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QTR. 2, 2019

Overall activity in the first two quarters in 2019 has declined 37.5% YOY, with the townhome and condominium segments being most impacted. Current sales activity is equivalent to that in 2009 (pre-Olympics). However, low inventory levels has been the primary driver current sales levels, with levels at less than half of that ten years ago. Buyer interest has remained steady, with overall average prices remaining comparable YOY, with a slight increase YTD.

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QTR. 1, 2019

Sales activity in the Whistler market remained consistent in the first quarter of 2019 compared to 2018’s final quarter, although still at much lower levels than the frenzied peak of the market in the 2017/2018 winter season.

Like most parts of British Columbia, the overall number of sales transactions has trended down by approximately 45% compared to 2018’s first quarter. Despite the slowdown in transactions, the overall value of sales was $165 million, an increase of approximately 10% from the previous quarter. Average transaction values have also seen an increase by a similar percentage amount to $1,312,000.

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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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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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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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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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