I trust this finds everyone well and rested after the Holiday season! I was fortunate to spend Christmas in Victoria with family (a first for me in 15 years) and arrived back in Whistler in time to enjoy some deep snow in the mountains. Although it was good to have some time off, I am looking forward to getting 2011 moving forward!
Overall Whistler had a busier 2010 Holiday season than last year at this same time and it would appear that the New Year is continuing to stay strong. As we start off 2011, I have provided some stats to compare the 2009 and 2010 real estate season. I also have some exciting news on real estate opportunities in Hawaii, but more on that in a moment!
2009 to 2010 comparables:
Chalet Sales 93 78
Condominium Sales 130 117
Townhouse Sales 119 149
Shared Owner 101 48
Duplex 8 14
Vacant Land 10 33
Total Sales 461 439
2009 saw a total sales volume of $309 million for 461 sales and 2010 saw a total sales volume of $336 million for 439 sales as reported by whistlerlistings.com. So 2010 had fewer sales but greater revenue. The two segments that helped push the numbers up in 2010 were townhouses and vacant land.
In reviewing last year’s sales figures I am seeing that towards the end of 2010 many properties were selling at assessed or even below assessed value and this trend will most likely continue into the New Year (These numbers reflect anywhere from a 25 to 35% drop in price from the height of Whistler real estate between 2003 – 2005). This said I do feel we are reaching the bottom of where the majority of sellers will drop to. Case in point: A 3700 sq ft home in Alpine on a 12,000sq ft lot that was once listed at $1.29M just sold for $950k – Assessed at $965k. It is unlikely that the vendor would have gone much lower.
Please go ahead and click here to view the past week's real estate transactions in Whistler, as reported by whistlerlistings.com. Please feel free to contact me with any questions or comments regarding real estate in Whistler.
This week reported: 17 New Listings 7 Sales 13 Price Changes
Last Week reported: 11 New Listings 8 Sales 15 Price Changes
Again this week’s pick of the week proves challenging:
For Ski in ski out convenience I like #4 Snow ridge at $639,000.00. This is a great 3 bed 2 bath townhome on the side of the Dave Murray Downhill.
Please feel free to contact me with any questions about this or other real estate in Whistler.
Wishing you all the very best for a happy and prosperous 2011 and let’s do some business together!