I would like to take a moment to thank all my 2018 clients. It is because of you that I am so honoured to once again be awarded with the MLS Medallion Club Award for 2018. This year’s award makes 2018 my 5th year qualifying!
The Medallion Club Awards are annual acknowledgements given by the Greater Vancouver Real Estate Board in recognition of the accomplishments of its top producers. In order to become a Medallion Club member, you must be in the top 10% of all board members in terms of your combined listings, sales, and dollar volume for that year.
Thank you so much to all of my clients, co-workers, family, friends and supporters – I could not have accomplished this without you and I am truly grateful.
Every January, The Whistler Real Estate Company acknowledges the achievements and performance of its top agents. The company grants 4 award levels (Diamond, Platinum, Gold, and Silver) that are determined based on an agent’s total dollar volume of sales and/or the total number of sales for the previous year.
For 2018, I am so honoured and thankful to have received a GOLD level award. I would like to take this time to extend my most heartfelt gratitude to everyone who has helped me achieve such great success – from my outstanding clients to my supportive family and friends. This past year was a busy one for me and it is due to the support of my clients, family, friends and co-workers that I have been honoured with these awards.
My previous awards include: Silver (2011), Gold (2013), and Platinum (2014, 2016 & 2017).
It has been a busy year for real estate in Pemberton so what does this mean for the local market and what can we expect moving forward through 2019?
Over the course of 2018, the real estate market in Pemberton continued to follow much the same course as was established through 2017. As the year progressed, activity levels returned from the peaks of 2016/17 to levels that are more typical of what we would expect based on historical data. As interest rates increased and new mortgage rules came into effect and impacted the costs of ownership, the second half of the year demonstrated a noticeably slower marketplace as compared to the first 6 months of 2018. It is important to note that these changes served to dampen real estate markets and buyer enthusiasm across the board – nationally and regionally as well as locally.
The real estate market in Pemberton continues to attract recreational enthusiasts, first-time buyers, investors, and those looking for family living at prices no longer attainable in Whistler. Due to the limited opportunities that were available through 2018, this demand resulted in an overall 7.1% increase in average transaction value for property in Pemberton throughout the course of the year.
Breaking the numbers down a little more:
Acreages and homes with acreages continued to remain of interest to high net worth individuals, a new generation of agricultural enthusiasts, and families taking advantage of the real estate markets in Vancouver and Whistler. The strongest buyer interest, however, continues to be in affordable properties (specifically condos and townhomes) that appeal to young families and first-time buyers.
Through the course of the year, Pemberton has been a hive of activity with several new developments getting underway and continuing to attract attention. Local builders and trades can expect a busy year ahead based on the sales activity on single-family building lots within the community. With several condo and townhome developments also on offer, buyers of real estate in Pemberton will have the option to consider newly-built properties of all types (and all the benefits that accompany them), unlike buyers of real estate in Whistler.
This activity extended into the commercial sector with a lot of growth and construction occurring in the Pemberton Industrial Park as new businesses decide to own their place of work rather than operate as a tenant.
With the number of properties available for sale slowly on the rise and strong buyer interest in the community, we expect sales activity in Pemberton to make a return to more balanced levels as we move forward through 2019. We also expect that as we reach that point of balance, further price appreciation will become more subdued.
With several considerations in the books and on the horizon, including:
we anticipate the buyers of real estate in Pemberton will proceed with caution and, as a result, sellers can expect their properties to spend longer on the market than was experienced in the recent past. Going forward, effective pricing will be the key to success for sellers and there will continue to be strong buyer interest in Pemberton real estate for properties that are well priced.
If you are curious about what your home is worth in today’s market, or if you are wondering how to be successful as a buyer in this market, or even if you are just looking to stay up-to-date on the current market trends, contact me and I will be happy to discuss the current market with you and how you can accomplish your real estate goals.
*All stats deemed to be accurate and taken from the Whistler Listing System, January 2o19
With 2019 well underway, it is time to take a look at what has been happening in the local Whistler real estate market and how the trends of 2018 may impact where we go from here as we move forward through the new year.
Over the course of 2018, the real estate market in Whistler continued to follow much the same course as was established in 2017. As the year progressed, the number or transactions began to decrease as the market slowed. The rapid pace of sales began to dwindle and many sellers found that their properties were staying on the market longer. This trend started slow at the beginning of the year and accelerated somewhat through the second half of 2018 as a result of rising interest rates, changes to mortgage approval rules, and a combination of government policies and taxes that had an impact on buyer enthusiasm. Combined, these factors resulted in overall slowdowns in real estate markets regionally and nationally, not just in Whistler.
Although down 26% from 2017, overall real estate activities (number of transactions) that occurred in 2018 remained consistent with the levels achieved prior to the peak of the current market cycle (in 2015 to 2017). Suggesting a return to more ‘normal’ levels of market activity. Meanwhile, 2018 demonstrated an 18.2% decrease in the total value of transactions that occurred (at $828 million) as compared to the previous year.
Despite an overall cooling of the market, overall values continued to increase with the average transaction value for a property in Whistler sitting at $1,250,168 at the end of 2018 (a 7.5% increase from 2017). The greatest price appreciation was seen in the medium density market segments. Interest was particularly high for family oriented accommodation (large townhomes and single-family homes) although scarcity of supply and high price points mitigated the amount of demand. Condos and townhomes that offered opportunities for short-term rentals (especially those located close the the Village and/or slopes) were also in very high demand.
It is also important to note that as the market slowed, the number of properties available for sale increased from the historical lows we witnessed at the start of the year. This means that there are more options for Buyers and potentially more competition for Sellers.
Breaking the numbers down a little more:
Combined, condo and townhome sales accounted for 67% of the total transactions and 56% of the total transaction value in 2018 – making them a critical portion of the local real estate market. Especially as increased international awareness (due to the Vail purchase) as well as significantly increasing overnight guest numbers continue to bring interest from traditional real estate investors and those looking to enjoy the “Whistler Lifestyle” while offsetting some of their ownership expenses.
In 2018, the luxury real estate market (properties listed at over $2 Million) accounted for 119 transactions with an average transaction value of $3,363,000. While the number of transactions remained very consistent with 2017, the average value is down slightly. Overall, these sales account for 18% of all transactions and about 48% of the total transaction value.
In Whistler, buyers will now find that many listings are priced at over $1,000 per square foot. This places our local real estate market on par with most of the other elite ski resorts in North America; however, when the exchange rate is taken into consideration, we remain good value from an international perspective.
Going forward through 2019 we expect to find ourselves in a more balanced marketplace with levels of activity remaining consistent with historical levels. We also anticipate the price appreciation will be more subdued as the market adjusts to more sustainable levels. That said, it is still possible that some properties will still surprise due to pent-dup demand for specific locations and types remains.
Going forward, buyers will continue to buy and sellers will continue to sell. Supply and demand will direct pricing in the year ahead and there will continue to be strong buyer interest in Whistler properties, especially those that are well priced and/or unique.
*All stats deemed to be accurate and taken from the Whistler Listing System, January 2o19
This fully furnished, 2 bedroom townhome in Glaciers Reach is ideally situated in a central location that is just steps from all the Village amenities and free shuttle bus. Imagine yourself relaxing in your private hot tub on the main deck or enjoying a morning coffee on the deck off the master bedroom with views of Whistler Mountain. With new living room furnishings, appliances, and hot tub it is ready for you to enjoy for weekend getaways or as an excellent rental investment with a strong rental history. In addition to your private hot tub, Glaciers Reach offers a year-round outdoor pool, a hot tub, secure underground parking, and an exercise room.
Listed for $1,029,000 and sold for 99% of the list price in just 18 days!
A popular complex for its convenient year-round location, The Legends could not be closer to the Creekside Gondola and amenities. It also puts you within minutes of Alta Lake and the Valley Trail. This 2 bedroom condo is in a desirable location that offers walk-out access to skiing and you couldn’t be closer to the pool area. With a spacious, open floor plan that includes a full kitchen, in-suite washer/dryer, and a deck with mountain views for relaxation, this is a perfect retreat. Legends offers plenty of storage, an outdoor pool and hot tub, an exercise room, and recreation/media facilities. As a quartershare property, owners can take advantage of unlimited use during their weeks, rent them out, or trade them through the resort2resort exchange program. This is an affordable freehold ownership where the monthly strata fee includes all expenses (property taxes, TW fees, phone, cable, and internet). Enjoy 2 weeks of use over Christmas and New Years 2019!
Listed for $199,000 and sold for 93% of the list price in just 11 days!
“Amber has handled a few of our real estate transactions and we have always been very happy with her services. We will continue to use her for her professionalism and the ease of dealing with our real estate sales and purchases in the Whistler area.” – Seller of 231D Legends
“I really appreciate your care, prompt service and ease of doing business. Hopefully out paths will cross again someday” – Seller of 231D Legends
1 Bedroom | 1 Bathroom | 423 Sq.Ft. | Townhouse
Conveniently located within walking distance to the Creekside Gondola and amenities, this rare top-floor townhome is ready for your personal touch. Make it your own and enjoy cozy winter days by the wood-burning fireplace and long summer evenings with family and friends on the large deck. Phase I zoning gives you the flexibility to enjoy unlimited use options.
Listed: October 2018
2 Bedroom | 2 Bathroom | 899 Sq.Ft. | Townhouse
Glaciers Reach, a popular townhome complex in the Village, is situated in a quiet setting adjacent to the Marketplace and an easy walk or ride on the free shuttle to all the shops, restaruants and ski lifts. This upper level 2 bedroom townhome is fully furnished and ready for you to enjoy for your unlimited personal use and/or rentals.
Listed: August 2018
Situated in a premier location within the Horstman House complex, this south facing, fully furnished, 2 bedroom condo is on the quiet, view side of the building. As a corner suite it offers plenty of natural light flooding the spacious, open concept living area. Horstman House itself is a fantastic Benchlands complex with a pool, hot tub, games room, media room, kids play room, BBQ area, and more. You can go skiing or head out to enjoy Whistler from this convenient location on the free shuttle bus route. In the winter, you can be home from the slopes in minutes via the ski-home trail. Quarter ownership means that owners can enjoy one week of use per month or, when you are not using your weeks, they are rented out through the on-site management company to help you offset the costs of ownership. The monthly strata fee covers all expenses except a cleaning fee.
Listed for $259,000 and sold for $249,000 (96% of the asking price) in 6 days.
The real estate market in Whistler is changing. Although transactions are happening at a slower pace as compared to last year, however prices remain strong. If you have been thinking of selling, this could be the right time.
Wonderful 2 bedroom townhome in one of Pemberton’s most-desired neighborhoods! This bright home has many tasteful updates that include 2 new bathrooms, bamboo flooring, wood blinds, stair railings, and bonus 3rd sleeping area that could be used as an office space. The open living area flows outside to a covered outdoor deck with grassed area below. The master bedroom is quite spacious and features a new ensuite bathroom and an over-sized walk in closet. The guest bedroom is very comfortable and features beautiful views of Mt. Currie! Geothermal central heating and air-conditioning, a “super single” garage and crawlspace area, and amenities that include a playground, gym, and community garden complete the package. Definitely worth a closer look!
“Amber is a very reliable, understanding and professional realtor. She met all our needs with finding a home for us and our new baby. Amber took the time and broke every home down we looked at with pros and cons to ensure this home was the winner! Our family couldn’t be happier with the neighbourhood, lay out of the home and quality of service delivered from Amber. I recommend her quality of work to anyone who asks who is the best in the business. “ Buyer of 22 Pioneer Junction.
The real estate market in Pemberton is busy. Well-priced properties are generally selling very quickly and prices continue to feel upward pressure. If you have been thinking of selling, this could be the right time.