Although buyer interest in Pemberton continues to grow, the Pemberton real estate market finds itself in a similar situation to that of Whistler – A limited supply of properties being offered for sale. So, although the number of transactions that have occured so far this year remains relatively consistent, values have risen across the board in all market areas.
As prices have risen throughout the Sea-to-Sky, many buyers have looked to Pemberton as an affordable alternative. Despite increasing values, this trend has continued and interest has increased for more affordable properties in the Village of Pemberton and surrounding areas, resulting in fast sales that are often under multiple offer situations.
Single-Family Homes: The current average transaction value in $715,000, as 12% increase since the start of the year.
Townhomes: Began the year with an average transaction value of $395,009 and now sit at $442,000.
Condos: Average transaction values have increase from $252,337 at the start of the year to $272,000.
Despite the fact that several new high and low density projects are expected to come to the market within the next 12 to 18 months, we expect that the real estate market will continue to favour sellers – at least for the short term. We also expect that prices will continue to rise through the coming months, tempered only by the affordability concerns that attract many buyers to the area.