The Whistler market has remained largely unchanged in terms of the number of transactions when compared to the same time last year. Where we have seen significant change is in the total dollar volume of transactions which sat at $153 Million this time last year and now sits at $203 Million. This increase is primarily the result of an increase in both chalet and vacant land sales.
Over the past months we have seen a growth of interest in the single-family home market in Whistler, especially when it comes to homes listed at over $1 Million. The current average value for a single-family home is $1,600,000 – the highest level we have seen since 2006. Despite the demand in this market segment, we are still experiencing low levels of inventory. This is pushing prices up and resulting in many properties selling under multiple offers and, in some cases, over asking price.
The lack of single-family home inventory is also creating renewed interest in both our higher priced luxury properties and in building lots as buyers who are unable to find what they are looking for choose to build.
Condominiums and townhomes continue to be the most active segment of the market – accounting for about 60% of all sales, although we have seen a slight drop in the past months. These segments of the markets have also experienced a drop inventory and, as a result, prices are trending higher.
With 28 sales so far this year, the Pemberton market has seen an upswing in the number of transactions when compared to this time last year when there had only been 18 sales. This increased interest has occurred in the townhome and condominium segments of the market where we are currently seeing the most interest.
The first quarter is typically the slowest in Pemberton so we expect to see more interest in all types of Pemberton and area real estate once the weather turns warmer and summer begins.