Whistler Real Estate Market update
The local real estate market has seen a substantial shift to a seller's market of late. Historically we see more listings come to market in the spring, but this did not occur this year. With increased pressure from Vancouver purchasers cashing out of Vancouver and moving up the Sea to Sky corridor, our typically recreational buyer found themselves competing to enter the market. With offers being submitted more quickly than we have seen in the past, buyers must to be ready to make decisions quickly and enter aggressive offer amounts to be guarenteed a purchase. New well priced properties that come on the market do not last long and are often fielding multiple offers, some above the asking price. The most active market appears to be under $1.6m. The announcement of the purchase of Whistler/Blackcomb by Vail Ski Corp., and their commitment to provide the infrastructure to make this a four seasons resort, should continue to make Whistler an attractive lifestyle destination with potential positive investment returns.
2nd Quarter Sales Statistics Summary
The second quarter of this year experienced a surge in activity compared to the same time last year.
Strong buyer demand and rising values highlighted the quarter as indicated by the numbers below. Sales numbers were up in all property types, most notably Townhomes and Vacant Land.
2016 vs 2015
2016 Total Sales: 315 / Dollar Volume: $250,672,720
2015 Total Sales: 194 / Dollar Volume: $163,646,095
2016 Sales by Property Types
Chalet: 51 / Condominium: 82 / Townhouse: 81 / Shared Owner: 17 / Duplex: 12 / Vacant Land: 14
2015 Sales by Property Types
Chalet: 38 / Condominium: 73 / Townhouse: 60 / Shared Owner: 15 / Duplex: 5 / Vacant Land: 3
Please contact me for more detailed information on specific property types of interest.
*Statistics from Whistler Listing System (WLS) as at July 26, 2016 (Whistler sales.)