I hope this finds everyone well and that you all had a great holiday break. Whistler was a busy place over the holidays and after 2 weeks of little or no snow, we were greeted with a very white Christmas. The forecast for tomorrow and Thursday is calling for substantial snowfall which is just what the resort needs!
This past week we had 24 new listings, 10 Sales and only 10 Price reductions in the Whistler market compared to last week that gave us 29 new listings, 10 Sales and 24 Price reductions.
Please go ahead and click here to view the past week's new listings and price changes as reported by the Whistler Listing System.
This week I am taking over a listing in the Pan Pacific Lodge for my colleague Ed Styffe who has decided to take some time off real estate after 25+ years in the business. The Pan Pacific is right at the base of Whistler Mountain and this phase II covenant property offers owners 28 days of use in the Winter and another 28 days of use in the Summer. The remaining time it is placed in a shared revenue pool. This is an 807 sqft 2 bedroom 2 bath unit. The Pan offers a great location and consistent revenue. The fact sheet can be seen here: http://matrix.buywhistler.com/Matrix/Public/Portal.aspx?ID=200647637
As we wrap up 2011, I can offer the following comparisons with last year’s sales numbers:
In 2011 we had a total of 541 sales. (100 Chalet, 165 Condo, 183 Town Home, 60 shared owner, 8 Duplex and 13 vacant land).
In 2010 we had 462 sales. (82 Chalet, 118 Condo, 154 Town Home, 49 shared owner, 14 Duplex and 33 vacant land).
In looking at the past few years, 2007 saw our highest number of sales overall and 2011 has shown the most number of sales since then – I feel this can be attributed to prices reflecting the current economic times and also the lower interest rates. We are seeing the majority of Buyers coming out of Vancouver who are buying into Whistler as a lifestyle choice coupled with an investment that now makes sense. I believe we will see more inventory come onto the market in the spring giving consumers greater choice and more options to “shop around” for a good deal. This said, there are some very motivated vendors out there right now – the question is, does one capitalise on the current motivated vendor or wait with everyone else to submit an offer? Although waiting could result in seeing more well priced offerings it may also mean that we enter a time of multiple offers which will push the price up. Time will tell.
Please feel free to forward this on to family or friends looking into the Whistler market. I am always happy to answer any questions you may have.
Let me take this opportunity to wish you all the very best for 2012. I hope I can help you in calling Whistler home.