A Year In Review: Pemberton

The Pemberton real estate market experienced a very active year in 2015. Not only did we see an increase in the total number of sales, but prices also increased across all market segments resulting in a higher total value for Pemberton real estate sales in 2015.

Why did we see this increased activity? It is the result of several factors including low interest rates, high levels of interest, low vacancy rates, and of course – lots of buyer demand.

The main hurdle for buyer’s looking to purchase in Pemberton is the very low inventory levels. Regardless of what segment of the market you are interested in, the number of properties currently being offered for sale is the lowest we have seen in several years. Properties that are well priced continue to sell quickly so buyer’s must be ready to act when they find the right property.

In 2015 the overall transaction value in Pemberton increased by 15% over 2014 to $434,000. In looking at the individual market segments we see the following trends:

  • Single Family Homes: Average transaction value increased by 7% in 2015 to $539,671
  • Townhomes: Average transaction value of $318,200
  • Condos: Average transaction value increased by 19% in 2015 to $225,500

We also continue to see interest in rural acreages outside the boundaries of Pemberton Village and this unique market paralleled the general trends above.

What to expect in 2016

With few new properties coming to the market (0 – 4 / week) and no new developments announced, it is likely that prices will continue to trend upwards. We can also expect sales to slow somewhat – not for lack of interest but due to lack of properties for purchase.

If you have any questions about the Pemberton real estate market or would like more up-to-date information about how this impacts your plans to buy or sell, please contact me.

*Based on Whistler Listings System Statistics Jan 7, 2016

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