Thank you to all my clients, friends, family, and my assistant Jamie Dowling for making 2017 another successful year. Proud to be working with the #1 company in the Resort!

Welcome to 2018!

We hope your new year is off to a great start! This year marks Whistler Real Estate’s 40th anniversary– quite an accomplishment. I am proud to be working with the #1 company in the resort.

In regards to the market, our 2017 stats summary is below. It will be interesting to see how the market unfolds in 2018 as we have seen double digit increases over the last 4 years. Please feel free to call or drop by the office at your convenience. I would be happy to discuss the market with you and answer any questions.

On behalf of my assistant Jamie Dowling and myself, we wish you and your family a healthy and prosperous 2018!

The Whistler real estate market experienced another active year in 2017 resulting in significant price appreciation in most sectors and over one billion dollars of value being transacted throughout the year. Despite the number of reported sales falling below that achieved during 2016, strong buyer interest continued to drive valuations and reduce the number of opportunities available. We expect these general conditions to continue into 2018.

Overall, the total number of transactions reported to the Whistler Listing Service decreased 16.2% compared to 2016; however, this was more than offset by a 26% increase in the average price of a transaction (currently $1,163,392 compared to $901,451 at the end of 2016) and insured that reported sales exceeded $1.1 billion by year end.

The Stats

The first half of 2017 was particularly strong due to a peak in buyer interest as a result of favorable exchange rates, low interest rates, strong regional economics, and a record number of visitors discovering and exploring Whistler in both summer and winter. As the number of properties offered for sale continued to decline throughout 2017, market activity slowed and the final quarter of the year was the slowest we have seen since 2014.

Larger, family orientated properties, both single-family homes and townhouses, experienced the highest level of interest, which resulted in double-digit rates of appreciation. Average single-family home values in Whistler rose by 26% to $2,835,000 (from $2,248,000 in 2016) and average townhouse values rose by 28% to $1,163,000 (from $947,000). As a result of the high level of interest, the number of family-style properties being offered for sale has dropped significantly. This has continued to support upward price movement.

The condominium market once again showed the highest level of activity with over 300 reported transactions (35% of the overall market share). Values in this market sector increased by 21% since the end of 2016.
It should be noted that despite the average general market values stated here, the strong levels of activity in condominiums and townhouses (65% of the total market share) meant that almost 60% of all real estate transactions in Whistler were priced at under $1,000,000 in 2017.

The luxury market (properties valued at over $2 million) continued to grow as a result of increased valuations. A total of 122 properties changed hands in 2017 representing approximately 14% of the total transactions that occurred. This represents over 40% of total market value at an average price of $3,634,000 (an increase of 12% from 2015) in this important sub-category.

Low inventory dictating prices

As a result of this long period of high buyer activity, we now have the lowest number of properties being offered for sale in modern memory, across all segments of the market. This will mean that activity levels will continue to drop despite strong buyer interest and prices will continue to feel upward pressure. It is perhaps unrealistic to expect continued double-digit rates of appreciation so we would expect that price increases will moderate in 2018.

Adding to these local market factors will be the unpredictable influence of a number of expected changes in external circumstances. These include interest rates, government and financing regulation, a slow down in neighbouring regional real estate markets, and perhaps an investor perception of being ‘over-bought’.

On the plus side, the new mountain ownership will introduce thousands of new potential investors to the area and North American economies will continue to be strong. Whistler continues to be one of the worlds most beautiful (and safe) places and our community continues too evolve and adapt to meet the requirements of both visitors and residents.

Wishing you and your family a wonderful holiday season!

With fresh snow this week and sunshine in the forecast, it looks like it’s shaping up to be a picture perfect Christmas in the Resort!  Whether you are in town or celebrating the holidays elsewhere, we hope you are enjoying some quality time with family and friends.

On behalf of my assistant Jamie and myself, we look forward to working with you in 2018 and wish you all the best for the coming year!

Entering our 40th year of operation!

• Helped over 470 purchasers make their Whistler and Pemberton dreams a reality.
• Assisted in the sale of over 500 properties in Whistler and Pemberton.
• Welcomed 4 new agents to our family.
• Continued to hold our position as the longest-serving and top selling real estate company in Whistler in both the number of transactions and total dollar volume.

Welcome to 7325 Toni Sailer Lane!

Newly built custom contemporary home, centrally located in sought after Whitegold Estates. This 4.5 bedroom and 3.5 bathroom 3400 sq.ft. home features 3 expansive decks, media room, massive views and a lovely landscaped yard. Sleek and modern design with family living in mind! This is a perfect full time or weekend home with great sun exposure and seamless transition between indoor and outdoor spaces and walking distance to the village. Call me for more information or stop by the open house and say hi!

Falling into Winter!

The leaves are turning, the air is crisp and we have already received our first dusting of snow in the valley. The anticipation of winter is building and the mountains are calling, are you ready for opening day?

Beyond the excitement for the upcoming season,  as a community we are all anxiously awaiting to see if there will be any further changes coming to us now that Vail Corp is officially taking the reigns this winter. There is much discussion around town, but we will just have to wait and see.  As this is the 52nd season  since Whistler Mountain opened for business, much change has occurred over the past half century. From the “dark side” aka Blackcomb Mountain opening in 1980, to the merger of  Whistler and Blackcomb in 1997, the sky never did fall… As a 25 year resident, I too am curious, but I believe it will be another great year of skiing, with a few changes which I am sure we will have to adapt to.

Speaking of changes, as you will read below, the market continues to move forward with increased values, but the number of transactions has slowed slightly due to the lack of supply.  If you are wondering what your property is worth in today’s market,  please feel free to get in touch or drop by the office at your convenience.

If you are thinking of buying, good properties don’t last long, so it’s important to be prepared to act quickly. We are here to help. My Sales Associate Jamie and myself  are available for you – 7 days a week!

Here’s to another great winter season!

Market Statistics

Sales activity in the Whistler marketplace continued to be brisk throughout the third quarter of 2017, albeit at a slower pace than the first half of the year. Overall, the total number of sales was 16% lower than the previous quarter, and 13% below the same period one year ago. This still represents a historically above average pace of business, and the slowing of sales can largely be attributed to the low number of properties being offered for sale.

Market analysis

Interest in investment in Whistler continues to be high and this, combined with the restricted supply, has led to a continued upward movement in values. An increased attention towards luxury properties (those over $2,000,000) in 2017 has also moved the dial statistically as almost 13.5% of all transactions occurred in this high-end market segment.

Currently the median transaction value of a single family home is $2.04 million, an increase of 19.5% since the end of 2016. Townhouse median values have risen to $899,000, an increase of 11%. Median condominium values currently sit at $487,000, an increase of 24%, and median values for single-family building lots are at $1,295,000. It must be noted that each individual market segment is best defined as a ‘micro’ market, so individual situations may vary significantly from the statistical average.

Looking forward

Going into winter we expect the existing framework of supply and demand to be the determining factor impacting activity and sale values. The heightened energy and interest generated by the new Vail Resorts ownership, combined with our growing traditional target market in Greater Vancouver, a predictable economic outlook, and the expectation of a great snow year, should ensure an active season for the community and the real estate market.

As always we encourage you to speak directly with one of our advisors to make sure you are fully up-to-date with our very dynamic and specialized real estate market .

Whistler Listing System statistics, October 2017.

We hope your summer is off to a great start!

The resort is in full swing with summer activities and a jam-packed calendar of events, there is something going on every weekend. The beauty of Whistler is that you can also escape all the action and enjoy some solitude in the forest within a short few minutes of the village.

On the real estate front, the market continues to charge on and we have reached benchmark highs in almost every segment of the market. As you will read below, we are seeing double digit increases across all segments. 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.

I would also like to take this time to introduce Jamie Dowling, my new assistant. She was most recently the owner relations administrator at ResortQuest Whistler and brings over 14 years of hotel/owner relations experience to the real estate business.

On behalf Jamie and myself we wish you a wonderful summer!

Market Update

Real estate interest in Whistler remained strong throughout the first half of 2017. Sellers continued to enjoy the benefits of a marketplace with low numbers of properties being offered for sale and strong levels of interest from buyers and investors.
Historically this pattern has constrained activity below those levels achieved in the first half of 2016; however, sales activity has been very consistent over the last 12 months and we expect another above average year in terms of activity.

The numbers
The total value of all transactions and the average transaction value has increased dramatically over the previous six-month period (July – December 2016). The total reported transaction value increased by almost 35% as compared to the previous 6 months. As a result, the average transaction value in Whistler has increased by over 26% (to $1,144,309) over the course of the first half of 2017, when compared to one year ago when the average value sat at $904,360.
Coming into this quarter the average price of a single-family home transaction is $2,729,000 due largely to an increased focus on higher priced properties throughout the first half of the year. The actual median price was $2,114,583. Condominiums also saw a sharp rise in average value to $611,081, while townhomes moved up to $1,060,419. The luxury market remained active with 13% of all transactions in Whistler being valued above $2,000,000 so far, this year.

What does it mean?
The current market conditions will continue to drive market activity for the foreseeable future. General and local economic conditions suggest continued buyer/investor confidence going forward. Expected future changes in interest rates should not negatively impact the Whistler marketplace. It is also unlikely that the new government in Victoria will do anything that would compromise Whistler’s contribution to the tourism brand of BC.

Whistler’s natural beauty combined with both a strong tourism program and Vail Resorts name recognition will insure continued strong interest in the area going forward.

So, what does the Vail Resorts acquisition mean for the real estate market in Whistler? Can we draw any conclusions from other marketplaces where Vail Resorts operate? How does Whistler stack up against some of the other resorts in its peer group?

Firstly, it is safe to say that that the Vail Resorts ownership brings an increased awareness of Whistler and significant brand credibility. In addition, it brings with it over 600,000 ski pass holders from all over the world who may now be empowered to ski Whistler. This alone cannot help but bring more people to Whistler to discover just what makes it such a great resort.

It is probable that some percentage of them will consider making an investment (particularly given the favourable exchange rate), even if only a small number ultimately decide to buy something. The incremental increase in demand in our very small and fixed-size market will definitely move the dial price wise with all else being equal.

Of course, a resort purchase decision is a function of many tangible and intangible factors; buyer confidence, value for money, selection, property amenities, community services, available financing, safety of process, taxation, and the value or outlook for alternative investments, etc. All of these factors, which are specific to a resort, are part of the reason that real estate, and particularly resort real estate is a ‘local’ experience.

Comparing resort statistics

Trying to objectively compare one resort to another is difficult. Certainly statistical analysis can be problematic as property descriptions, total market size – both geographical and numerical – local bylaws and regulations, and of course the complete resort package that is associated with the area, make it impossible to compare ‘apples to apples’.

However we can look at the more macro indicators and get a general sense of market trends and general values. For the purpose of this article we examined information available for Vail, Breckenridge, Park City, Lake Tahoe, Jackson Hole and of course Whistler. Below are graphs representing total values of sales, total number of sales, and average transaction value (All prices listed in CAD, converted at 1.25 from USD)

What does it mean?

Clearly all real estate markets have seeing upward trend activity and in most cases price appreciation. From the Whistler perspective it is important to note: a) That our market is quite small in comparison to our peers both in terms of total value and number of transactions; And b) in terms of average values, Whistler continues to be at the low end of the value range as compared to its peers despite an increase in average transaction value over the last 5 years.

Analyzing resort real estate is, of course, not that simple and a wide variety of factors will ultimately impact the results and trends in any specific marketplace and for any specific property.

That being said, given the expected increase in people coming to Whistler, a continued stable economic situation which supports buyer/investor confidence in North America, and Whistler’s low average price point relative to direct competitors, while offering a superior overall experience,  the data suggests the continued appreciation of values in the Whistler area can be expected.

Spring is upon us, but it’s still winter in the mountains!

This has been an incredible ski season and for those thinking of getting a few more turns in, there is still plenty of snow on the mountains

On the real estate front as you will read below, the market continues to be active, despite the low listing inventory. Sellers are in a good position to take advantage of the strong demand for resort property if they are considering a move. Buyers need to be prepared and ready to act when the right property hits the market in this highly competitive environment.

We always welcome you to call or drop by for a visit next time you are in the Village. On behalf of my sales associate, Teal Ready and myself, we wish you and your family a wonderful Easter Weekend!

Market Update

Average transaction value in Whistler has increased by over 13% to $1,025,323 since the beginning of the year with single family homes seeing the biggest gain.

At the end of the first quarter the average single family home transaction averaged $2,623,471 due largely to an increased focus on higher priced properties during the winter.

Condominiums also saw a sharp rise in average value to $485,390, while townhomes moved up to $1,062,000.
The luxury market remained active with 12% of all transactions in Whistler being valued above $2,000,000 so far this year.

Market conditions of low supply and high demand will continue to be the factors driving market activity for the foreseeable future. Despite a somewhat unpredictable political environment both internationally and locally, general and local economic conditions suggest continued buyer/investor confidence. Whistler’s strong tourism programs combined with Vail Resorts name recognition will insure continued strong interest in the area.

2016 Whistler Real Estate Market Review

=The Whistler real estate market experienced one of its most active years in 2016 resulting in significant price appreciation in most sub markets and over one billion dollars of value being transacted throughout the year.=

=Overall the total number of transactions increased by 22% compared to 2015 and the average price of a transaction increased by 12.6% to $901,765 (from $801,894).=

=The first half of 2016 was particularly strong as buyer interest peaked as a result of a favorable exchange rates, low interest rates, strong regional economics, and a record number of visitors discovering and exploring Whistler in both summer and winter.=

Market Update

Larger, family orientated, properties, single-family homes, and townhouses experienced the highest level of interest. This resulted in the highest rates of appreciation, with average single-family values in Whistler rising by 32% to $2,252,000 (from $1,697,000) and average townhouse values rising by 24% to $947,000 (from $764,000). As a result of the high level of interest, the number of family style houses being offered for sale has dropped significantly which also supported upward price movement.

The condominium market showed the highest level of activity this yearwith almost 400 reported transactions. Values also showed an increase, going up by 11.7% since the end of 2015. Shared ownership also showed double digit improvements in both activity and value.

Given the strong levels of activity in condominiums and townhouses (65% of the total market) it should not be surprising that almost 70% of all real estate transactions in Whistler were under $1,000,000 in 2016.

The luxury market (properties over $2,000,000) stayed strong and constant with a total of 83 properties changing hands, representing approximately 8% of the total transactions that occurred in 2016. This represented over 28% of totally market value at an average price of $3,524,000 million (an increase of 13% from 2015).

What does this activity mean?

As a result of the 2016 activity we now have a historically low number of properties being offered for sale in almost all segments of the market which will mean that activity levels will drop despite strong buyer interest and prices will continue to be pressured to move upwards. Tempering these local market factors will be the unpredictable influence of a number of expected changes in external circumstances. Interest rates, government and financing regulation, an expected retreat in Vancouver real estate values and some uncertainty due to the impact of the Trump presidency, and more locally, a provincial election may present either unexpected challenges or opportunities for the 2017 marketplace.

Going forward, buyers will continue to buy and sellers will sell. There will be a real estate market. Supply will be restricted and this will not change quickly through 2017. More than anything supply and demand will direct pricing in the Whistler market.

Welcome Winter – We are glad you’re here!

What a year we have been having in Whistler!  Both the resort and the real estate market continue to break records. We are finally feeling the post-Olympic effect in full swing.  As you will read below the market demand continues to be very strong. Listings are at an all time low and there does not seem to be any sign of a slowdown for the “Whistler Experience”.  With regards to the resort, we had another record breaking summer with visitors to the resort and the hotel bookings for this winter are also pacing ahead of last year at this time.

This past week brought cooler temperatures to the area and lots of precipitation resulting in a snowline below mid-station, creating a lot of anticipation for the upcoming ski season.  In 25 years of living in the resort, I have not seen the snow line below mid station in early October, definitely feels like we are well on our way to winter!

If you are thinking of selling, it couldn’t be a better time.  Please feel free to reach me and I would be happy to discuss what your property is worth in today’s market – you might just be pleasantly surprised!

If you are looking to buy, the best way to deal with this fast paced market is with a good understanding of value. Both myself and my associate Teal Ready, can help you get the information you need that will equip you with the knowledge and confidence to act on the right property when it hits the market.

Please feel free to call/email us or drop by the office at your convenience.

Here’s to an early winter!

October Market Update

Whistler market activity during the third quarter of 2016 continued to demonstrate above average levels of sale activity and steady increases in value. High levels of buyer interest combined with historically low levels of properties being offered for sale continues to move the dial in favor of sellers in all segments of the marketplace.

Current Market activity trends indicate that 2016 will be the second busiest year for transactions since 2002. As of September 30th, the number of transactions has increased by 32% as compared to the same period last year.

Property values increase

Sales values have also shown strong positive performance, with the average transaction value increasing by almost 10% to $880,000 since the start of the year. Chalets and townhomes have reported the most interest since the start of the year, resulting in average sales prices increasing to $2,059,004 for chalets (a 21% increase in 9 months), and $935,000 for townhouses (a 22% increase in 9 months).

The other major market segment, condominiums, also had a very busy first three months, accounting for almost 35% of all market activity. Average price of a sale has increased as well from the start of the year, moving up to $428,000.

As a result of the consistently strong levels of activity for the last 18-24 months, both the number of properties being offered for sale and the time on the market for most properties (particularly those priced under $1,000,000) has fallen to historic lows. It is safe to say that for those thinking of selling the conditions are as favorable as they have been in 15 years.

Still a seller’s market

Looking forward to the last quarter of 2016 we expect sellers to continue to have the market in their favor. With no new buildings being made available, the market will continue to demonstrate the characteristics of a low supply, high demand marketplace with strong support for prices at current our higher price levels.

We expect general market activity to be lower than previous, but properties will sell quickly if priced properly.
To be successful in making the right purchase buyers need to be decisive, fully understand the purchase process, and stay right up to date by speaking with their adviser to achieve their dream purchase in our unique and dynamic marketplace.