Whistler Prices Going Down?
With all the news about Housing Markets in Vancouver and around N. America crashing, what is the news from Whistler? Tracking pricing in any market takes a bit of skill and interpreting the stats. Where we are a bit challenged in Whistler currently is in the stats department. Sales - actual home and condo that have sold- are the real statistic needed when talking about prices. The # sales (ie. Sales Volume) in Whistler in 2008 has slowed considerably, the past month being especially slow.
Listing prices have been coming down creating some buying opportunities and bargains not seen since 2005 and before.
What is expected is for a sales to pick up as more and more deals come up on the market.
Here are some Whistler Real Estate Sales Stats from the past few years:
Total Sales
2005: 489
2006: 613
2007: 848
2008: 507 (as of Nov 25)
Total Chalet Sales
2005: 101
2006: 113
2007: 167
2008 (YTD): 78
Total Condo Sales
2005: 301
2006: 344
2007: 562
2008 (YTD): 310
Although we are seeing many properties reduced in their list price creating many buying opportunities, it is difficult at this time to see what the actual decrease in prices are. This is due to lack of sales numbers and stats over the past several months. We are starting to see a few more deals being negotiated in our office at The Whistler Real Estate Co. Ltd over the past 7-10 days. With more sales confirmed in the coming weeks we will being to see what is happening with Whistler real estate prices.
Here are a few examples of current listing prices that show that prices are trending down in both Whistler home and condo prices:
- Chalet in Alpine Meadows SOLD for $1,400,000 in September 2007. Is now listed for sale at $1,299,000.
- A 2 bedroom townhome on Whistler Benchlands sold for $718,500 in February 2008. A 2 bedroom in the same complex is listed for sale now for $650,000. There is a pending sale on this unit.
Stay tuned for more information as more statistics and sales reports in the coming weeks.