The forcast is calling for SNOW this weekend and we can’t wait! We also have the Olympic Plaza Skating Rink opening tomorrow at 11am. Open seven days a week*: 11 a.m. – 1:30 p.m., 2:30 p.m. – 5 p.m. and 6 p.m. – 8:30 p.m. Free admission! Skate rentals are $6. Helmets are available at no charge. Its a great activity for all ages and abilities!
The market is steady with 16 new listings, 13 price changes, and 8 sales Whistler and 11 new listings, 3 price changes, and 0 Sales for Pemberton.
Whistler Market
0 Sales
Marika Koenig
Greetings from Whistler!
It was great to wake up to a dusting of snow in the valley this morning and we are hoping for the snow to continue. If you are in Whistler this weekend, the 18th annual Whistler Film Festival is underway, running through December 2nd. It’s a great opportunity to enjoy fresh films, epic events, industry connections plus time to enjoy the delights of the resort from skiing to après, fine dining and more.
The market is steady with 13 new listings, 14 sales and 8 price changes for Whistler and 2 new listings, 1 sale and 0 price changes for Pemberton.
Whistler Market
0 Price Changes
Have a great week!
Marika Koenig
Greetings from Whistler!
It was great to wake up to a dusting of snow in the valley this morning and we are all hoping for the snow to continue. The18th annual Whistler Film Festival is underway, running through December 2nd. It’s a great opportunity to enjoy fresh films, epic events, industry connections plus time to enjoy the delights of the resort from skiing to après, fine dining and more.
The market is steady with 13 new listings, 14 sales and 9 price changes for Whistler and 2 new listings, 1 sale and 0 price changes for Pemberton.
Whistler Market
0 Price Changes
Have a great week!
Marika Koenig
Whistler Blackcomb in now open and there is SNOW in the forecast! Hope those of you in Whistler were able to get up the mountain and enjoy the first turns of the season. If you are looking for something fun to do, the Arts Whistler Holiday Market starts at 10am tomorrow with over 100 vendors from the Sea to Sky region and across BC.
The market is steady with 25 new listings, 13 sales and 16 price changes for Whistler and 4 new listings, 0 sales and 4 price changes for Pemberton.
Whistler Market
0 Sales
Have a great week!
Marika Koenig
The leaves have changed and so has the market. Although prices are holding as you will read below and listing inventory levels are still very low, we have seen some moderation in the Whistler real estate market to more normal levels of activity.
As Whistler is a resort market, we have been fortunate to be exempt from the recent tax legislation with the vacancy tax, speculation tax and foreign buyer’s tax, which is having a noticeable impact in other areas of our province where this legislation applies.
While markets cycle and Whistler is seeing some cooling in activity, I don’t believe we will experience changes at the same level as other regions in our province. I feel Whistler is overall a solid investment option for both Canadian and International investors.
If you are in the area or have any questions about the market, please feel free to call or drop by the office. I always enjoy catching up and answering any questions you may have.
Here’s to a great winter season!
Real estate market activity in Whistler remained active during the third quarter of 2018, albeit at significantly lower levels than those experienced during the peak of the market cycle experienced during 2016 and 2017. The number of properties listed for sale has risen from recent historical lows. An increase in the amount of time listings are available in the market before they sell also reflects a return to a more normalized market framework.
The Numbers
Despite lower levels of activity, sales prices have continued to rise since the start of 2018. The overall transaction value for the market has risen by approximately 7% since the start of the year. Meanwhile, the overall average transaction value in the Whistler market place is currently $1,247,715 and all categories of real estate have seen increases.
Average values in all individual segments of the marketplace have seen increases. The average transaction value for a single-family home rose 5% through the third quarter of the year, while average condominium prices experienced an increase of 6%. The townhouse market segment has witnessed the greatest increase since the start of the year with average pricing moving from $1,146,000 to $1,464,084 (a gain of 27%).
What To Expect
As we prepare for the 2018/2019 winter season, we expect that the market trends experienced in the third quarter will continue through to the end of the year and into 2019. Buyers will continue to show strong interest in the limited supply of Whistler properties available for sale, particularly those which are unique and/or new. However, economic uncertainty as a result of provincial and federal economic policies and rising interest rates will temper buyer confidence and ensure that buyers will proceed cautiously in their decision making. Whether buying or selling, it is important to work with a knowledgeable, full-time, local agent to make sure that you are up-to-date with the right information to make the best decision.
Saturday October 6th 1-3pm – Baseline Complex
Sunday September 2nd 1-3pm
#21 -2200 Taylor Way!
Rarely offered, this lovely end unit townhome in the Baseline complex is located in the heart of Whistler Creekside. Featuring a spacious, open floor plan with 3 bedrooms plus loft and 3 bathrooms, as well as large double car garage. Step into the light and bright living area with soaring vaulted ceilings and floor to ceiling windows, offering plenty of space for entertaining or enjoy on your own while cozying up by the wood burning fireplace. All three bedrooms are well situated and offer a family friendly layout. The upper level of the property has a wonderful loft space that offers great flexibility as a rec room or extra sleeping area. There is also a an outdoor patio on the upper level perfect for enjoying cocktails in the summer! Ideally situated this townhome is the complete package as a four season experience, just across from stunning Alpha Lake beach park and within a short walk to the ski lifts at Whistler Mountain, Nita Lake Lodge, Franz’s Trail shops and amenities.
Call me for more information or stop by the open house and say hi!
Summer in the Mountains – there’s nothing that can beat it! Ask a local and they will tell you they came for the winter and stayed for the summer! Whistler has so much to offer with five lakes and a multitude of recreation options, there is something for everyone, at every age. People often ask me if I have plans for a summer vacation away and I say I am not leaving, as it’s the best time to be here – really!
As far as the real estate market, as you will read below, the market has started to normalize from the incredible activity we have had over the last few years. There is still strong interest from buyers and prices are staying consistent, however we do have a bit more inventory now with approximately 250 listings on the market. A balanced market is approximately 400 listings. During the winter we had approximately 160 listings available.
If you are thinking of buying or selling I would be happy to sit down and discuss your options. Please feel free to call or drop by the office at your convenience.
On behalf of my assistant Jamie Dowling and myself, we wish you a wonderful summer!
Real estate activity in Whistler continued to be steady throughout the first half of 2018. The total number of transactions has moderated from the peak levels achieved in 2016 and the first half of 2017, but strong buyer interest and low levels of properties being offered for sale continues to support prices in all sectors of the market place and as a result average sales values have continued to move up in 2018.
Overall the total number of transactions in Whistler has decreased by 23% as compared to the same period in 2017. However, the level of activity is very consistent with that which occurred in the previous six-month period and is similar to our long run historical activity levels.
The numbers
Sales values have continued to rise, but at a slower rate than in the recent past. The average transaction value during the January-June period now stands at $1,211,482, up approximately 5% from the beginning of the year.
Single family properties continue to be the highest priced category in the market with an average value exceeding $3,168,000 (median value $2,649,000), which is a 16% increase since the beginning of the year. Although representing only 13% of the total number of transactions done in Whistler, single family represents an excess of 33% of the value changing hands to date.
Condominiums and townhouses continue to be the most active part of the market accounting for almost 70% of all activity. Average transactions value for a condominium during the first six months of the year was $623,937 (median 587,000) an increase of 4% since the start of the year. Although townhouse activity was slightly slower as compared to previous comparable periods, strong interest from buyers, particularly in larger units, propelled average transaction values upward by 26% since the start of the year, and now stands at $1,449,000.
What to expect
As we move into the second half of the year we expect buyer interest to continue to be high and sales activity to keep the number of properties offered for sale low.
As always, however, outside factors such as government policy, interest rates, economic cycles and exchange rates can have a significant impact on the decision-making process for both buyers and sellers in Whistler .
Spring is in the air! But there’s still plenty of winter to be had on the mountain tops. This is such a great time of year where you can ski in the morning and bike in the afternoon. The local restaurants are starting their spring specials and it’s a little quieter around the resort, perfect for a relaxing staycation or weekend away.
On the real estate front as you will read below, the market is still charging forward, although our sales volume has declined slightly prices have continued to increase. It will be interesting to see what happens going forward. The Vancouver market has cooled in certain segments, but it’s uncertain how we will be affected in the resort as the majority of purchasers are from the Vancouver lower mainland. Most notably we have not been impacted by the recent addition of the speculation tax and foreign buyer tax implemented by our provincial government, which as a buyer or seller is good news. Thankfully they have recognized we are a resort area.
Wishing you a wonderful spring!
Real Estate sales in Whistler continued at a steady pace during the first quarter of 2018. Sales activity improved significantly over the previous quarter as buyer interest stayed strong. This resulted in continued increases in average sales values in all categories.
Compared to the final quarter of 2017, overall sales activity through the first quarter of 2018 was up 23%. However, it was down slightly (10%) as compared to the same quarter one year ago. Overall average and median values on the other hand, have continued to increase since year-end 2017. The average transaction value in Whistler has increased 13% (to $1,309,300) and the median value has increased 15.6% (to $995,000).
Individual statistics
The single-family home market remained consistent throughout the quarter with increased interest in newer, higher priced properties. Average transaction values rose to $3,253,000 for the quarter.
The condominium and townhouse markets continue to be the most active segments of the market, accounting for 70% of all activity. Average sale values rose significantly by 37% for townhouses (to $1,581,000), a result of a buyers focusing on larger, well located, unrestricted-use properties. The condominium market also saw an increase in values, albeit only 11% (to $662,583).
Sales values and asking prices are now consistently exceeding $1,000 per square foot throughout Whistler for built properties. This places us on par with the values achieved in other popular ski areas throughout North America.
What does this mean?
The number of properties being offered for sale in Whistler remains low and buyer interest remains strong. Moving forward, sellers can expect immediate activity on well-priced offerings.
However, recent provincial government announcements regarding real estate investment and new financial/mortgage requirements are creating an increased level of uncertainty for some buyers. As a result, we expect that market activity will moderate going forward.
It has been a great winter season with lots of new people being introduced to the resort. This bodes well for the future of the marketplace. To get an up to date opinion on the situation that is specific to your needs, please contact one of our full time, professional advisors.
Whistler is exempt from the proposed new speculation tax in BC. However, the attached map shows which areas will be impacted by this new legislation.
Exemptions remain for principal residences and long-term rentals (rented for at least six months, in increments of at least 30 days). And exemptions have been added for specific circumstances, including death and long-term medical care. The government is considering temporarily grandfathering strata units where rentals aren’t allowed, but there’s no firm decision on that, yet.
The tax rate has also been adjusted. In 2018, it will be 0.5 per cent for all applicable properties. Here’s how it will apply in 2019:
- for British Columbians with second homes in the affected urban areas: 0.5 per cent (though, homes valued up to $400,000 will be exempt),
- for Canadians outside BC, 1 per cent,
- for non-Canadians and “satellite” families, 2 per cent.