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Whistler real estate sales Spring review


Blog by Nick Swinburne | April 15th, 2015


Spring Greetings from Whistler!

It’s April and on the calendar, Spring is officially here. However for most of the winter it looked and felt more like April. Spring-like conditions in the valley are a solid month ahead of the norm. The grass is growing, the frogs are croaking in the pond and the official Whistler Spring Flower, “The Skunk Cabbage” is sprouting. We even have a foraging bear on the Whistler golf course! The good news is skiing in the alpine is excellent and the alpine snowpack is the highest of the season. Winter has arrived in the higher elevations. There should be some good spring skiing and boarding through April and early May. Whistler Mountain is scheduled to stay open until May 18th and Blackcomb is set to end operations as of April 19, which coincides with the end of the World Ski and Snowboard Festival.

Real Estate Market Update 

On the real estate side the first quarter of 2015 reflected the trends of the past couple of years, strong buyer demand with reduced inventory. Some property types and price ranges are seeing multiple offers within days of being listed. Overall the market is balanced however if you are a seller with the right property and price point, the pendulum is currently favouring you.

Many Whistler property owners are curious whether or not the current weaker Canadian dollar is attracting large numbers of US currency buyers. I have compiled the following statistics from the first quarter to offer a snapshot of the Whistler market. 

Whistler 1st Quarter Sales 2015
Total Sales = 165
Highest: $5.6m / Chalet / Buyer: Florida, USA.
Lowest: $45k / Hotel unit / Buyer: West Van.
Buyers by country:
Canada = 137
USA = 12
Hong Kong = 6
UK = 3
Mexico = 3
Singapore = 2
Dubai = 1
Japan = 1

Summary:

  • 83% of the 165 sales were from Canada. (Majority from Vancouver &      Whistler. Other BC : 3 / Ontario: 4 )
  • 70% of the 165 sales were under $1m.
  • 22% of 165 were between $1m to $2m.
  • 7% of the 165 sales were over $2m.

By Price Range
Over $2m = 12 sales
Canada = 6
USA  = 2
Hong Kong = 1
Mexico = 1
Singapore = 1
Japan = 1
Summary: 50% Canada 

Between $1M to $2M = 37 sales
Canada = 29
Hong Kong =  3
Mexico = 2
USA = 1
Singapore = 1
UK = 1
Summary: 78% Canada

Between $500k to $1m = 42 sales
Canada = 36
USA = 4
UK =  2
Summary: 86% Canada

Under $500k = 74 sales
Canada = 66
USA =  5
HK = 2
Dubai = 1
Summary: 90% Canada Summary:

Highest = $5.6m

Lowest - $45k

Median = $575k

Total $ Volume = $137m.

Average = $833k.

 

 

To sum up, even with a below average snow season Whistler Blackcomb still had the best snow on the west coast of North America. There was a steady stream of destination visitors from the US, Asia, Uk, Australia and Europe. With the snowy end to the season, a strong US dollar and continued low mortgage interest rates I expect the balance of 2015 will continue to build on the trends we have seen over the past four years. For a more detailed report on a specific property type of interest please contact me.

                                        

Enjoy the Spring Season!