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Whistler Chalet, Condo and Townhouse sales and month in review for April


Blog by Nick Swinburne | May 21st, 2013


The spring and summer period in Whistler has historically been a time of increased listings and sales.  This year, as you may have read in my past reports, we are seeing a shift in the local Whistler market.  Despite a small surge in active listings towards the end of March and into April, the current trend of decreased inventory continues.  Current single family home, condo, duplex, townhome and vacant land listings for Whistler total 529 compared to the same time last year when we had 670 active listings*

Whistler real estate active listings

Whistler sales for April totaled 37, 1 shy of March’s total of 38 and down compared to the 46 sales from April 2012.  Phase I condos and townhomes (unrestricted use with nightly rentals permitted) continue to be in demand.  February’s run on single family homes has left a shortage of this type of property in the market and March and April’s sales numbers reflect this.

Whistler Sales

April 2012

March 2012  

April 2013

Chalet

Residential

7

6

6

Condo

Phase I

14

8

10

Phase II

4

7

5

Residential

2

1

1

Total

20

16

16

Duplex

Residential

0

3

1

Townhouse

Phase I

11

9

9

Residential

7

4

4

Total

18

13

13

Vacant land

Residential

1

0

1


Buyer activity continues to be present and I am receiving a number of enquiries each week about real estate for sale in Whistler.  The challenge we are starting to face is matching Buyers with the property they are looking for.  In some cases active listings are just not available in some complexes or areas.  In terms of median sales prices, after our large spike in February, March saw a return to more normal numbers with April’s numbers showing a complete opposite trend with onee of the lowest Median sale price figures we have seen for the past 2 years. 

Whistler real estate sales for chalet, town house and condos


The general sentiment both in the local market and globally is that the worst of the recession is behind us.  Those people who needed to sell and liquidate assets have done so.  As we return to a more optimist economic outlook, we are finding that many sellers of Whistler real estate are comfortable waiting for the market to stop its downward path and move to recovery.  This will be a slow process and while I do not feel we will be seeing price increases occurring soon, the possibility of increased multiple offers on well priced and more unique properties is likely.  Our current sales to active listings ratio stands at 6.6%, which is still very much in the realm of a Buyers market.

For Buyers, if there is a property that strikes a chord, my advice is to move on it - do your due diligence but do not wait long to submit the offer.  Being the second offer in, is not where you want to be in the current market.

Sellers may find that now is an advantageous time to list, especially if your ownership consists of phase I condos or townhomes, or single family homes in the surrounding subdivisions.  Pricing correctly for the current market is still needed to generate the Buyer interest and attract offers - We are not out of the woods yet but are moving in the right direction for now.

Please call me if I can assist with a Whistler real estate sale or purchase.  I would be happy to provide my expertise on the local market.

Thank you,
Nick

* figures are taken from the Whistler Listings System and deemed to be accurate