Market Report: July 2016

Six-Month Real Estate Market Review

It has been a very busy start to 2016 in both Whistler and Pemberton. Not only did we see a dramatic increase in the number of real estate transactions year-over-year, but we have also seen increases in total dollar volume and increases in average transaction value compared to the first six months of 2015.

In terms of the ‘big picture’ there has been a 46% increase in Whistler and Pemberton activity levels with an 11% rise in the total value of completed transactions compared to the same six month period of 2015. In Pemberton, average values have increased 9.6% (to $898,535) and in Whistler we have seen a 16% increase (to $435,269).

Taking a closer look at individual market segments, there has been increases year-over-year across the board:

Whistler

  • Single Family Homes: Average transaction value up 13% (to $2,042,000)
  • Townhouses: Average transaction value up 18% (to $922,696)
  • Condos: Average transaction value up 11% (to $437,518)

Pemberton

  • Single Family Homes: Average transaction value up 21% (to $627,647)
  • Townhouses: Average transaction value up 8% (to $334,000)
  • Condos: Average transaction value up 1% (to $207,000)

Factors influencing our strong real estate market continue to be a combination of favourable currency exchange rates and strong consumer confidence. As a result, the marketplaces in both Whistler and Pemberton continue to be highly dynamic and challenging for both buyers and sellers.

As a result of the rapid pace of sales, our listing inventory levels in both communities have fallen to historically low levels. New properties that come to the market are getting immediate attention and are often receiving multiple offers.

Both sellers and buyers need to be ready to move quickly and well informed. If you are wondering if now is the time to sell, thinking of purchasing, or want more information about the current market conditions in Whistler and/or Pemberton, contact me and I would be happy to help.

LookingSave

Based on Whistler Listing System(WLS) data and deemed reliable but not exhaustive. Specifically this information does not include WHA activity, privates sales, commercial transactions, or properties not listed on WLS. It is for general information purposes only and should not be relied on for specific real estate decisions.

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