Summer has flown by! With a ton of events happening and amazing weather throughout July and August, the summer has been very busy. To wrap it all up, the long weekend could not have been better and both Pemberton and Whistler were abuzz with people out enjoying their last weekend before the kids went back to school.
Just like the corridor as a whole, the real estate markets in Whistler and Pemberton have been busy. The overall number of reported sales through August has remained steady and matched what we saw and July. However, the pace of sales continues to be slower than we saw at this time last year. The primary reason for this is the low number of properties available to sell. That said, as a result of low inventory levels we are continuing to see increasing sales values in many segments of the market. So, the drop in activity levels has been offset by appreciation in terms of the total value of the property changing hands.
Year-to-date for 2017, a total of 731 properties have changed hands (compared to 905 at the same time last year) in Whistler and Pemberton. In August alone, there were 81 transactions. Three were 78 in July and 108 in August 2016.
The average value of a transaction in Whistler is currently sitting at $1,147,814 compared to $884,424 at the same time last year. The median value has increased from $594,000 to $738,000 as a result of a greater number of sales happening in the higher-end of the market.
In Pemberton, the average value of a transaction is currently sitting at $511,866 compared to $453,471 at the same time last year. The median value has increased from $362,500 to $435,000.
*All stats deemed to be accurate and taken from the Whistler Listing System, August 2017