Real Estate Market Update – Whistler

We have seen some amazing, spring-like conditions so far this March in both Whistler and Pemberton. Nevertheless, the real estate market continues to move along at a steady rate.

February 2015 saw a 12% increase over the number of sales we saw in January, 2015 but there was a small drop in the number of transactions in February 2015 when compared to February 2014. This is likely due to a lower than usual inventory levels – lack of choice for buyers rather than lack of interest from buyers.

Also as a result of this lack of listings, prices are trending upwards. Median prices in Whistler are currently being reported as:

  • Chalet: $1,400,000
  • Townhome: $637,500
  • Condo: $419,000

These median prices paint the local market in very broad strokes and there is lots of variation within the many sub-markets of these main property type segments. As a result, it is important to make sure that you understand the dynamics of your particular area of interest before you buy or sell.

In some segments of the market we are now seeing properties that are priced correctly selling quickly under multiple offers for over the asking price! This is something we have not experienced in Whistler for some time. If you have been thinking of selling, right now may just be the right time.

For buyers, there is limited inventory available so it is important for buyers to be ready to make the decision when they find the right property. Delaying too long is resulting in lost opportunities for some potential buyers. That said, there are many fantastic opportunities currently on the market.

If you have any questions about the state of the real estate market or about how your particular segment of the market is doing, contact me and would be happy to provide you with more information.

*All Stats Based on Whistler Listing System Statistics March 17, 2014

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