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Whistler real estate market May sales in review


Blog by Nick Swinburne | June 19th, 2013



Inventory in the Whistler real estate market is content with small surges of listings coming to market but continues to stay in the low 500’s, a figure not seen since July 2007 to April 2008, when Whistler had fewer than 500 active listings for sale.   Currently there are 534 active chalet, condo, duplex, townhouse and vacant land listings available to purchase in Whistler*.  This time last year there were 676.

Whistler real estate active listings May 2013

Sales for Whistler in May 2013 totalled 43.  This was up from April’s final amount of 39 but still lower than May last year which saw 50 sales.


Whistler Sales

May 2012

April 2013  

May 2013

Chalet

Residential

8

6

7

Condo

Phase I

13

10

12

Phase II

2

6

2

Residential

0

1

2

Total

15

17

16

Duplex

Residential

2

1

0

Townhouse

Phase I

11

10

8

Residential

8

4

10

Total

19

14

18

Vacant land

Residential

6

1

2


Completed sales for the month of May totalled 51 which shows a continued demand for Whistler real estate.  We continue to see buyers attracted to well valued phase I condos & townhomes and to single family homes, especially with rental suite and garage.

Median sale prices in 2012 compared to 2013 Year to Date were slightly up from $541,000 to a current figure of $547,000. This said, median sale prices for the month of May continued to trend lower than in previous months.

Whistler real estate sales and prices



In recent weeks I have seen some well priced listings coming to market that see action right away.  I have also seen some listings that the market has deemed priced too high.  Is this the sign of vendors 'testing the waters' or an overly optomist agent getting their CMA wrong.  Many know my feelings on overpricing.  It doesn't make sense to overprice and doesn't serve the interests of the agent's clients - By overpricing not only do you i.) miss out on the surge of interest when a new property comes to market and lose current buyers, but ii.) when you do the price reduction, all the new buyers looking are wondering what's wrong with the property and why has it been on market so long.  Beware of overpricing.

Overall though, still a v. good time to be narrowing down your search if you are looking to buy in Whistler.  If something does stand out, be ready to make the move.  Now is also a good time to sell with Buyer interest being high, the key is only sell if you are realistic with what can be achieved with your final sale price.  For American owners of Whistler property, please call me to discuss you options for selling.

Please call me if you feel my expertise can assist you with a Whistler real estate listing or purchase.  I would be happy to help answer any questions you may have on the local market.

Thank you,
Nick

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