Pemberton Market Update: October 2017

Fall is a beautiful time to be in Pemberton, there is just something about the fall colours that add a little something extra to the stunning views.

Much like the real estate market in Whistler, Pemberton (and the surrounding area) continues to face a market constrained by a lack of available supply, despite the high demand. As a result, well priced properties are selling very quickly. This, in turn, has continued to place upward pressure on prices throughout the region and across all market segments.

Where are we now?

The imbalance between supply and demand has resulted in steadily increasing sales prices throughout Pemberton. Here is a closer look at the numbers by market segment:

  • Single-Family Homes: Median transaction value is now $760,000 (an increase of 16.9% since the end of 2016)
  • Townhomes: Median transaction value is now $479,000 (an increase of 17.1% since the end of 2016)
  • Condos: Median transaction value is now $345,000 (an increase of 32% since the end of 2016)

The Pemberton real estate market is a small one, therefore it is important to keep in mind that individual transactions can vary widely from the statistical averages.

What is to come?

Going forward through the remaineder of 207 we expect that market conditions will continue to be strong with continued upward pressure on prices.

With the successful sales of single-family lots at Tiyata, Sunstone Pemberton, the Benchlands, and The Pemberton Ridge, residents in Pemberton should expect to see a wave of construction as purchasers begin to build their dream homes. We can, nevertheless, expect that although many of these homes will be occupied by full-time, local families, some of them will certainly come to the market for resale (either as lots or once homes have been built).

It looks like Pemberton is sure to be a busy place for the foreseeable future. If you have been thinking of buying or selling, contact me any time to find out how the current real estate market will impact you.

*All stats deemed to be accurate and taken from the Whistler Listing System, October 2017

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