Welcome to summer in Whistler. Although we are dealing with a change in how we move through society these days, Whistler fortunately is still as great as ever. Our primary offering is the natural experience, which is still very much the same. I do think this is why our real estate market has bounced back fairly well in most segments in light of all that has happened this year as you will see below.
[et_pb_section fb_built=”1″ _builder_version=”4.4.4″ width=”100%” max_width=”100%” custom_margin=”0px|0px||0px|false|false” custom_padding=”0px|20px||20px|false|false” admin_label=”Main”][et_pb_row _builder_version=”4.4.4″ width=”100%” max_width=”100%”][et_pb_column type=”4_4″ _builder_version=”4.4.4″][et_pb_text _builder_version=”4.4.8″ admin_label=”Main Text”]
We are into Phase 2 of BC’s restart plan with more opening up throughout town, including restaurants, shops, some hotels, schools and Parks all adhering to the required COVID protocols for safe operation. The Whistler Real Estate Office has also reopened with a revised time 10am-5pm 7 days a week.
For more information on what is open throughout Whistler check out Whistler’s Doors Open Directory.
On the market there are currently 374 listings in Whistler and 90 listings in Pemberton across all segments. I have provided more specific listing details below.
If you are looking to keep up to date with what is happening in the market I am more than happy to provide you with New Listings, Sales and Price Changes directly to your Inbox.
[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row column_structure=”1_3,1_3,1_3″ _builder_version=”4.4.4″ width=”100%” max_width=”100%”][et_pb_column type=”1_3″ _builder_version=”4.4.4″][et_pb_text _builder_version=”4.4.8″ admin_label=”Whistler Market”]
Whistler Market
45 New Listings
4 Back on Market
13 Price Changes
8 Sales
[/et_pb_text][/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.4.4″][et_pb_text _builder_version=”4.4.8″ admin_label=”Pemberton Market”]
Pemberton Market
5 New Listings
2 Price Changes
3 Sales
[/et_pb_text][/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.4.4″][/et_pb_column][/et_pb_row][/et_pb_section]
[et_pb_section fb_built=”1″ _builder_version=”4.4.4″ custom_margin=”0px||||false|false” custom_padding=”0px||||false|false”][et_pb_row _builder_version=”4.4.4″ custom_margin=”||||false|false” custom_padding=”||||false|false” hover_enabled=”0″][et_pb_column type=”4_4″ _builder_version=”4.4.4″][et_pb_text _builder_version=”4.4.4″ custom_padding=”||||false|false” hover_enabled=”0″]
Greetings from my home to yours. It’s certainly been an interesting few weeks with the change of pace we are all now experiencing. I hope you are staying healthy and keeping in good spirits. I have to say I feel incredibly fortunate to live in Whistler. My family and I have been able to get outside and still be active despite all that is happening. We have also had many weeks of sunny weather, which is a bonus for this time of year.
On the real estate front, it’s no surprise that sales have slowed down given all that is going on, however we are fairly optimistic over the long run that Whistler’s market will bounce back just fine. For reasons I eluded to above, Whistler is going to do well because of it’s connection to nature, it’s relatively small size combined with modern conveniences. I think this pandemic is going to allow people to re-evaluate the importance of investing in their lifestyle and health and for this reason I think we will come out of this market better than perhaps some other areas.
Both Jamie and I are continuing to work during this time. If you have any questions or would like to discuss the real estate market, please feel free to give me a call at your convenience. I would love to hear from you!
Stay well,
[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row _builder_version=”4.4.4″ custom_margin=”||||false|false” custom_padding=”||||false|false” hover_enabled=”0″][et_pb_column type=”4_4″ _builder_version=”4.4.4″][et_pb_text _builder_version=”4.4.4″]
Real estate markets in the first quarter of 2020 in Whistler and Pemberton followed trends experienced throughout southwestern BC with a strong and improving marketplace during January and February, followed by a significant slow down in March as result of a global and local shutdown of most parts of the economy and society due to the COVID-19 pandemic.
The numbers for the quarter are as follows; in Whistler, 110 new firm transactions were reported as compared to 151 in the previous quarter and 131 for the same quarter in 2019. This is largely a result of a 50% drop in activity during the month of March as compared to the previous month or March 2019.
Despite these lower levels of activity, values either remained steady or increased slightly. The overall average transaction value in the first quarter was $1,482,000 as compared to $1,247,000 at the end of 2019. Dollar per square foot sales value has also remained steady and continues to range between $1,000 and $1,200 a square foot. The luxury market (over 3 million) stayed very consistent compared to a year ago with 5 sales over $6,000,000 reported. This continues to show confidence in Whistler in the long term from high net worth individuals.
Pemberton Real Estate Market
The Pemberton Marketplace also showed a significant drop in activity. but as a small marketplace with a very limited supply of opportunity, this marketplace typically will show more variability in activity quarter to quarter. Overall sales activity dropped approximately 35% as compared to the previous quarter and by 50% as compared to the same quarter of 2019. Like Whistler, however, values remained steady and consistent with those reported at the end of 2019. With low-interest rates, buyer interest remains strong, particularly among young families and recreational property enthusiasts.
Navigating through COVID-19
Of course, what has happened is not as important to our customers and clients as what will or might happen as we move forward through the pandemic and the post-pandemic.
Having been in business in Whistler since 1978, we have experienced numerous periods of uncertainty and negativity locally and globally. Since the turn of the century alone, we are now experiencing our third unexpected event that will impact both our national and local economies. Our experience has been that no matter what the short-term challenges are, we have seen that both Whistler and Pemberton bounce back with resilience. In the case of real estate, values and demand for real estate in the area increase.
There are many reasons for this; our beautiful natural setting, a planning framework and geography that limits supply, a full range of services and recreational opportunities for residents and tourists, and a young educated entrepreneurial business community that has embraced the vision of being North American’s number one ski resort. Add in the success B.C. is having to attract people and capital investment, its performance in the current scenario regarding health and safety, customers becoming more comfortable with remote work, historically low-interest rates for the foreseeable future exchange rate for foreign buyers, and the desirability of real assets in turbulent times, and we believe Whistler and Pemberton will continue to be a desirable place to own real estate in the long run.
COVID-19 Challenges
That is not to say that we will not face some adversity and challenges in the coming months. We expect the number of sales transactions to be below historical levels until the fourth quarter of 2020 and that buyers will be looking for value which will lead to downward price pressure on average sales value in some segments of the market.
It may be some time before we again experience the robust tourism numbers of 2017-2019. There is little question that there will be a reset as we reestablish and reattract people to the area. In the long run, however, we will be just fine, and the future is bright.
In this Market Report Video, our President, Pat Kelly, discusses the numbers and facts for the first quarter of 2020 when it comes to real estate in Whistler and Pemberton, and highlights the challenges and milestones that will come from COVID-19.
[/et_pb_text][et_pb_video src=”https://www.youtube.com/watch?v=5h2cOpftYyo&feature=youtu.be” _builder_version=”4.4.4″][/et_pb_video][/et_pb_column][/et_pb_row][/et_pb_section]
Well a lot has changed in Whistler since my post last week! In light of the current virus situation our office at Whistler Real Estate is closed to walk in traffic. We are however still working and avaliable to discuss the real estate market with you. Please feel free to reach out at your convenience.
The gondolas and chair lifts are now closed, but Whistler Blackcomb announced they are opening some uphill ski routes for the public. The liquor, grocery and take out restaurants are still open for business, along with the gas stations and some other locally owned shops.
On the market there are currently 362 listings in Whistler and 67 listings in Pemberton across all segments. I have provided more specific listing details below.
If you are looking to keep up to date with what is happening in the market I am more than happy to provide you with New Listings, Sales and Price Changes directly to your Inbox.
[et_pb_section fb_built=”1″ _builder_version=”4.4.4″][et_pb_row _builder_version=”4.4.4″][et_pb_column type=”4_4″ _builder_version=”4.4.4″][et_pb_text _builder_version=”4.4.4″ hover_enabled=”0″]
In light of the current virus situation, spring is going to arrive a little earlier for us this year. Historically it is normal for us in Whistler to see a slow down in sales activity when the ski season winds down.
I tend to agree with the latest report as you will read below from the BC real estate association that we will anticipate a pick up in sales activity once things normalize again in the latter half of the year. Both Jamie and I are still working and available to discuss the market with you at your convenience.
Stay healthy and enjoy some of the simple pleasures in life; home cooking and outdoor activities (at safe distances, of course!).
[/et_pb_text][et_pb_text _builder_version=”4.4.4″ hover_enabled=”0″]
|
The latest BCREA Market Intelligence Report: Sketching Out the Potential Impact of COVID-19 on the BC Housing Market explores the potential impacts of COVID-19 on BC home sales and prices through 2020. Click here to read the full report.Summary Findings:
|
[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]
[et_pb_section fb_built=”1″ _builder_version=”4.4.4″][et_pb_row _builder_version=”4.4.4″][et_pb_column type=”4_4″ _builder_version=”4.4.4″][et_pb_text _builder_version=”4.4.4″ hover_enabled=”0″]
This just in… Canada’s largest banks are coordinating their approach to the COVID-19 coronavirus outbreak to protect their employees and customers.
[/et_pb_text][et_pb_text _builder_version=”4.4.4″ hover_enabled=”0″]
‘Big Six’ banks to allow 6-month mortgage payment deferral
Canada’s largest banks are coordinating their approach to the COVID-19 coronavirus outbreak to protect their employees and customers.
Measures to support both health and finances will have some common elements across the ‘Big Six’ banks – RBC, CIBC, TD, Scotiabank, BMO, and National Bank of Canada, the Canadian Bankers Association said.
Financial support will include up to a six-month payment deferral for mortgages, and the opportunity for relief on other credit products.
Individual Canadians or business owners facing hardship are encouraged to contact their bank directly to discuss options that could be available to them.
In keeping with advice from Canada’s public health authorities, the response is also designed to support social distancing to control the virus’ spread.
That means that branches will be closed or operate with reduced hours, while special care will be taken with those branches in rural communities.
Critical services will be maintained and many banking services will continue to be available through ABMs, mobile apps, bank websites and telephone banking.
Banks will be communicating with customers to explain the measures they are taking.
Canada’s banks are being supported by a reduction in the stability buffer required for a ‘rainy day’ and by other measures taken by the federal government and Bank of Canada in expectation of a potentially-prolonged downturn.
With interest rates currently at 0.75%, there is room for the BoC to make further reductions in line with some other major economies. The Fed cut its overnight rate to a range of 0% to 0.25% on March 15.
[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]
[et_pb_section fb_built=”1″ _builder_version=”4.4.4″ width=”100%” max_width=”100%” custom_margin=”0px|0px||0px|false|false” custom_padding=”0px|20px||20px|false|false”][et_pb_row _builder_version=”4.4.4″ width=”100%” max_width=”100%”][et_pb_column type=”4_4″ _builder_version=”4.4.4″][et_pb_text _builder_version=”4.4.4″]
Greetings from Sunny Whistler!
On the market there are currently 357 listings in Whistler and 64 listings in Pemberton across all segments. I have provided more specific listing details below.
If you are looking to keep up to date with what is happening in the market I am more than happy to provide you with New Listings, Sales and Price Changes directly to your Inbox.
[/et_pb_text][/et_pb_column][/et_pb_row][et_pb_row column_structure=”1_3,1_3,1_3″ _builder_version=”4.4.4″ width=”100%” max_width=”100%”][et_pb_column type=”1_3″ _builder_version=”4.4.4″][et_pb_text _builder_version=”4.4.4″]
Whistler Market
19 New Listings
16 Price Changes
9 Sales
[/et_pb_text][/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.4.4″][et_pb_text _builder_version=”4.4.4″]Pemberton Market
1 New Listings
2 Price Changes
0 Sales[/et_pb_text][/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.4.4″][/et_pb_column][/et_pb_row][/et_pb_section]
Greetings from snowy Whistler!
On February 2, 2019, The Whistler Real Estate Company presented The View from here and we have three videos to share…
Helmut Pastrick, the Chief Economist for Central 1 Credit Union.
Vak Litwin, President and CEO, BC Chamber of Commerce
Pat Kelly, President, The Whistler Real Estate Company Ltd.
Inventory is holding steady compared to last week with 302 listings in Whistler and 73 in Pemberton. I have provided more specific listing details below. If you are thinking of making a move in the market, I would be happy to discuss your options. Please feel free to call or drop by the office at your convenience.
Whistler Market
Pemberton Market
Hope you have a wonderful week!
Marika Koenig
*All statistical information provided from sources deemed to be reliable*
* Information based on data collected from Whistler Listing Service WLS
Sign up for weekly updates right to your email
Featured Listing:
Amazing views, central location, recently renovated, this mountain chalet checks the boxes! Located in sought after Whistler Cay Heights, this family friendly home features a flexible layout on 2 levels with 4 bedrooms and 4 bathrooms which has the option of being a 3 bedroom home with a self -contained one bedroom suite. Enjoy the open concept living space perfect for entertaining family and friends with soaring high ceilings, indoor/outdoor fireplace with walk out deck from the living area, large kitchen island perfect for gathering around and creating gourmet meals in this fully outfitted kitchen with Jenn Air and Asko appliances. No detail has been overlooked with features such as Lutron Smart lighting system, electronic blinds, whole house audio system and a mini-split HVAC system which includes additional heating and air conditioning with individual zone control. This down to the studs renovation included replacing all millwork in the main home, flooring, lighting, plumbing fixtures, radiant heated tile floors in foyer and bathrooms, new siding, new decks, new roof, new driveway, plus a lot more! The large flat walkout backyard is currently forested and offers the opportunity to create a custom landscaped yard with additional mountain views. Just steps to the valley trail, local bike trails, and a short walk to the Village, Whistler Golf Course, elementary school and daycare.
Wishing you all a Happy Family Day and President’s Day!
If you are in Whistler this weekend and looking for something to do with the family, there are some great Family Activities offered at a discounted price. The Fire and Ice Show happens every Sunday and daily Skating at Olympic Plaza, with a toboggan hill for kids of all ages to enjoy!
On February 2, 2019, The Whistler Real Estate Company presented The View from here and we have the first video to share, from Helmut Pastrick, the Chief Economist for Central 1 Credit Union.
Inventory is starting to build with 301 listings in Whistler and 76 in Pemberton, I have provided more specific listing details below. If you are thinking of making a move in the market, I would be happy to discuss your options. Please feel free to call or drop by the office at your convenience.
Whistler Market
Pemberton Market
Hope you have a wonderful week!
Marika Koenig
Greetings from Whistler!
If you are in town this weekend be sure to check out the Rogers Hometown Hockey Festival this Saturday and Sunday from 12-6pm at Olympic Plaza. On Sunday there is the Fire and Ice Show and Skating at Olympic Plaza, there is even a great toboggan hill for the kids to enjoy!
We have seen an increase in listings from last week and I have provided more statistics for both Whistler and Pemberton below. If you are thinking of making a move in the market, I would be happy to discuss your options. Please feel free to call or drop by the office at your convenience.
Whistler Market
Pemberton Market
Hope you have a wonderful week!
Marika Koenig