Fall Into Winter…
On the heels of another amazing summer, we are getting excited for another ski season! The leaves are turning color, the air is crisp and we are seeing the occasional dusting of snow on the mountain tops as we focus our attention to winter activities. In fact we are very proud to again have been voted the #1 Ski Resort In North America by Ski Magazine this year — a great acknowledgment to not only Whistler Blackcomb, but to all the great amenities, activities and people behind the businesses we have in the resort. It is clear this is no secret and has translated into an upswing in the real estate market as well. Many people have decided to take advantage of the property buying opportunities these last couple of years and we are now back in a seller’s market in many segments of the market, as you will read below.
If you are thinking of buying or selling, or would like to get a more specific market update tailored to your property interests, feel free to call or drop by the office.
With three quarters of 2015 in the books, the Whistler real estate market is on track to have its most active year since the Olympics in 2010.
Total market activity is ahead 6.5% as compared to the same period one year ago. As a result, prices have continued to strengthen in all the major real estate categories. Overall, the average sale value of a transaction has increased by 10.7% since the beginning of the year to $801,468. This is also the highest level we have seen since 2010.
The single-family home market has been very strong throughout the year with an almost 20% increase in activity over 2014. Average sales value has also increased 5% to $1,727,000 since the start of the year.
The townhouse market remains healthy although activity is down slightly due to a significant reduction in properties being offered for sale. The average townhouse transaction value over the last 9 months is $778, 853, almost 14% higher than the same period last year.
Activity in the condominium market remains strong and average transaction values have increased by 6% to $394,326. With a strong summer season, rental properties are showing improved income performance and increase in interest as a result.
Based on current activity levels reported by our agents, we expect the balance of the year to continue to be strong. Favorable currency rates for non-Canadians, historically low levels of offered properties (listings), and the continued growth of diversity in the Whistler experience keeps the resort as a desired destination and real estate opportunity.
The Whistler marketplace is unique and nuanced and only a full time, professional sales person is fully equipped to provide you with all the information needed to make the right decision.