Pemberton Market Update: July 2018

2018 Quarter 2 Review

Plenty of buyer interest, low listing inventory, and rising prices continued to define the Pemberton real estate market through the first half of 2018.

Overall transaction values in Pemberton have risen by about 14% since the beginning of the year. Meanwhile, a lack of opportunities (rather than a lowering of buyer interest) has resulted in a reduction in the number of transactions so far this year.

Breaking the numbers down a little more:

  • Single-Family Homes: Average sale value sits at $883,000
  • Towhomes: Average sale value sits at $593,000
  • Condos: Average sale value sits at $385,784

A bright point, and something we have not seen a lot of in recent years in Pemberton, is a bustling of construction. Significant investment in Pemberton, both commercially and residentially, has seen several new single-family home developments and townhome/condominium buildings coming to the market – including The Ridge, Sunstone, and Crestline. That has given buyers of Pemberton real estate a lot of new design and living choices. At the same time, a quick drive through the Pemberton Industrial Park will confirm that activity there is abuzz with new commercial and industrial investments, as well as the opening and expansion of several local businesses.

What We Expect Moving Forward

Pemberton is not being seen by many as a viable alternative to both Whistler and Squamish. Despite its current economic boom, we continue to see low supply levels for existing real estate in Pemberton. As a result, well-priced properties are generally selling very quickly and prices continue to feel upward pressure. We do not anticipate that this will be changing any time soon.

 

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, July 2018

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