SOLD! AP2 Alta Lake Road

Date Posted: January 30, 2018

A Lakefront Condo in Whistler Creek

Lakefront living in Whistler! This spacious, top floor 1 Bed/1 Bath corner unit in popular Tamarisk complex offers light, views and privacy. The south facing deck overlooks green space and provides a mountain view and lots of sunshine. Tastefully decorated and meticulously maintained, with fresh paint, new windows, flooring & carpet, and new kitchen appliances. Tamarisk is a residential complex on the shore of Alpha Lake, with on site caretaker, tennis court, and lots of storage for bikes, canoes and kayaks. The complex has been very well maintained with new rain screening completed in spring 2017. Just minutes to Creekside Village and gondola, this property offers an ideal home for full time residence or a weekend getaway.

Listed for $488,000 and sold for $480,000.

“It was an absolute pleasure working with Amber. She made the entire process easy for us and clearly outlined all steps making it a seamless experience. We would highly recommend her services and hope to work with her again in the future.” – Buyer of AP2 Tamarisk

The Whistler real estate market continues to struggle with enough inventory to meet buyer demand. If you have been thinking of selling, this could be the right time.

If you are curious about your home’s value in today’s market, want more information about this sale or similar listings, or if you would like an update on market conditions, contact me today!

Sold: January 2018


JUST LISTED -460 Westin Resort & Spa Whistler – NOW SOLD

Date Posted: January 24, 2018

A Phase I Whistler Village Condo

$265,000

0.5 Bedroom   |   1 Bathroom   |   407 Sq.Ft.   |    Condo

The Westin Resort & Spa Whistler is an award-winning hotel in an ideal location steps from the Whistler and Blackcomb gondola base. Enjoy up to 56 days of personal use per year and earn fantastic, proven revenues whenever you are not using your suite. Ownership is easy with the Westin, which puts all of Whistler at your fingertips – from fine dining to luxury spas, to year-round adventure. More >>

Listed: January 2018


Whistler Market Update: January 2018

Date Posted: January 21, 2018

2017 Year in Review

In terms of real estate in Whistler (not to mention visitor numbers, changes within the resort, and a multitude of other areas), 2017 was another active year. In the real estate market specifically, the year saw a total of over $1.1 billion being transacted between January 1st and December 31st and almost all market segments felt significant price appreciation. Nevertheless, we did see a drop in the number of reported sales as compared to 2016 as a result of the low number of opportunities available for sale.

Overall, there was

  • A 16.2% decrease in the number of sales in 2017 compared to 2016.
  • A 26% increase to $1,163,392 in the average sale price of a transaction (up from $901,451 at the end of 2016)

Throughout the course of the year, the first half of 2017 was particularly strong as a result of  a combination of a record number of visitors coming to Whistler combined with favorable exchange rates, strong regional economics, and low interest rates. As we progressed through the year, the number of properties available for sale continued to drop which resulted in a slowing of market activity. The final quarter of the year was the slowest on record since 2014.

Number of Active Listings
(Whistler Jan 2015 – Dec 2017)

In 2017, larger family-oriented properties experienced the highest level of interest (including both single-family homes and townhomes). As a result, the number of these properties being offered for sales has dropped significantly and this has continued to put upward pressure on prices.

As usual, the condo market showed the highest level of activity with over 300 reported transactions (35% of the market share). Towether the condo and townhome market comprise 65% of the market share in Whistler.

As far a the luxury market goes (listings priced at over $2 million), increased valuations continued to grow this market segment and resulted in 122 properties changing hands (about 14% of the total market share). In total, the luxury market comprised over 40% of the total market value. It is important, however, to note that condos and townhomes still comprise the bulk for the Whistler real estate market meaning that 60% of all sales that occurred in 2017 we priced it at under $1 million.

Breaking the numbers down a little more:

  • Single-Family Homes: Average value rose 26% from $2,248,000 in 2016 to $2,835,000 by the end of 2017.
  • Towhomes: 28% increase in average values from $947,000 to $1,163,000.
  • Condos: 21% increase in average values to $187,087,000
  • Luxury Properties: 12% increase in average price to $3,634,000

 

2018: What We Expect

As of this writing, we now have the lowest number of properties being offered for sale in Whistler in modern memory. As a result, activity will continue to drop. Since buyer interest remains strong (with no indicators that it will lessen), prices will continue to feel upward pressure. That said, we do expect price increases to moderate. Another year of double-digit price appreciation is very likely be unrealistic.

We do. however, have to keep in mind the unpredicatable potential influences of a number of factors outside our local market, including interest rares, slowing regional real estate markets in the surrounding areas, new/changing government and financing regulations, and investor perceptions.

Nevertheless, Whistler continues to be a world-class, year-round resort. As it continues to evolve and adapt we don’t expect to see any lessening of interested in Whistler. Not to mention that Vail is expected to introduce thousands of new potential investors to the area and North American economies are predicted to remain strong.

In conclusion, through 2018 supply and demand will dictate prices more than anything else. We expect supply to be limited and demand to remain high.

With the significant market increases over the past few year you may be wondering what your home is worth in today’s market. Or, if you are a buyer, you may be wondering how to be successful in securing a property in this fast-paced market. Or, maybe you are just looking to stay up-to-date on the current market situation. Whistler is a small and uniquely nuanced marketplace, so no matter what your looking for, contact me and I will be happy to discuss the current market with you and how you can accomplish your real estate goals.

*All stats deemed to be accurate and taken from the Whistler Listing System, January 2018


Pemberton Market Update: January 2018

Date Posted: January 20, 2018

2017 Year In Review

Throughout 2017, Pemberton continued to attract first-time home buyers, recreational enthusiasts, investors, and those looking for price points no longer available in Whistler. Increased awareness, good values compared to other Sea to Sky markets, affordability, and a relaxed lifestyle continue to be the main attractants for purchasers in Pemberton.

As a result of increasing demand combined with low numbers of available listings resulted in an overall 8% increase in average transaction value and significant price appreciation in almost all market segments.

In Pemberton, the more affordable properties (condos and towhomes) continues to draw the highest levels of interest as these properties appeal to young families and first-time buyers, and are rarely available in Whistler and Squamish right now.

Breaking down the numbers by market segment:

  • Single-Family Homes: Average price increased by 27.5% to $816,907.
  • Townhouses: Average price increased by 21% to $478,987
  • Condos: Average price increased by 32% to $334,911

It is important to note that for the first time, 2017 saw a number of individual transactions exceeding $1 Million for a single-family home. Acreage properties, continue to be of interest to to high net worth individuals, a new generation of agricultural enthusiasts, and families capitalizing on the real estate markets in Vancouver and Whistler although the number of sales remains too small to draw reliable statistical information.

New Developments

With new subdivisions at Sunstone selling our, and most of the remaining lots at the Benchlands now sold, the new residential developments in Pemberton attracted strong buyer interest throughout 2017. Given the strong sales activity for these single-family building lots, we can expect 2018 to be a busy year for builders in Pemberton.

2017 also brought increased commercial investment to the community. The Pemberton Industrial Park is now a hive of activity and construction and there are several new rental buildings getting ready for occupants.

In 2018, we expect to see a number of announcements for new projects as Sunstone and the start of construction at Crestline.

2018: What We Expect

As is the case in Whistler and Squamish, the number of properties available for purchase is at historically low levels while buyer interest remains high. Therefore, we expect that 2018 will continue to support upward pressure of prices.

New mortgage / financing rules, interest rate changes, and the outcome of future housing development in Whistler may all impact the market, but, until these issues have become more defined, the future looks bright for Pemberton.

The Pemberton real estate market truly is a micro market so individual sales and valuations may vary widely from the ‘norm’ so it is important to evaluate each property  individually. If you are interested in selling and wondering what your property might be worth, or if you are looking to buy and wondering how the market will impact you, contact me and I would be happy to discuss the current market situation with you.