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Whistler Real estate month in review - Februray


Blog by Nick Swinburne | March 6th, 2013


I hope this finds you and your family well. With Spring just around the corner this time of year marks the beginning of what is traditionally a busy period in the real estate indusrty. We will likely see the start of a increase in properties listed for sale over the next few months.

In the local Whistler market we are still seeing an overall decrease in active inventory; Current single family home, condo, duplex, townhome and vacant land listings for Whistler total 531 compared to the same time last year when we had 661 active listings of the same types*.

Whistler active listings 2009 - Feb 2013


Whistler sales for February totaled 45 and are ahead of the January figure of 36 sales. Single family home sales led the increase with a continued demand for Phase I Condos and Townhomes:

Whistler Sales

Feb

2012

Jan

2013

Feb

2013

Chalet

Residential

10

11

17

Condo

Phase I

6

8

6

Phase II

6

3

7

Residential

1

0

0

Total

13

11

13

Duplex

Residential

0

2

0

Townhouse

Phase I

9

9

9

Residential

5

2

5

Total

14

11

14

Vacant land

Residential

2

1

1



February saw an increase in sales from the previous month although still lower when compared to the past 12 months. This said, overall buyer activity continues to increase and I am receiving several calls or emails a week from people requesting information on particular properties or to schedule showings. In terms of median sale price we saw a fairly large spike in the month of February that can be attributed to 12 sales above $1.5M that produced $31M in sales volume for the month. It will be interesting to see if this trend continues, but I feel it is fair to say that the high end investors are seeing good value in Whistler real estate.

Sales and median prices Whistler 2012 - 2013
Overall the Whistler market is still experiencing a "buyers" market but with less inventory to choose from.

For Sellers, although you may not have any plans to move, I feel there a 3 strong reasons to consider taking a closer look at the Whistler market:
i.) The inventory of available property for sale is the lowest it has been since since July 2008. This means the competition among sellers is the lowest it has been in 5 years.
ii.) Buyer activity continues on the increase which measns there are people out there looking to purchase Whistler.
iii.) Mortgage rates continue to be offered a record low, making vacation homeownership more attractive and affordable than ever before.
Being realistic with the current market and positioning yourself correctly to attract offers is the key.

For buyers, we continue to see good opportunities being bought up across all types and price points of real estate in Whislter and we are still seeing
motivated sellers ready to make a move. As I stated in my last monthly update, acting quickly is essential in this market. You don't want to be the second offer in. If you don't already have one in place, please contact me to receive your personal property update.

 

Please call me if I can assist you with your Whistler real estate goals - I would be happy to give you the inside story on any of the properties that are available and help you decide if now is the time to make your move.

Sincerely,

Nick

 

Nick Swinburne REALTOR®
Direct:
1-866-978-8866 ext. 27
Web:
nickswinburne.com
Sutton Group WestCoast Realty - Canada's #1 Real Estate Broker


* All Statistics from the Whistler Listing System and do not include fraction, quarter share or timeshare. They are deemed to be accurate.

 

This communication in not intended to cause or induce breach of an existing agency agreement (E&O)