Whistler's Real Estate on the Move!
For the first time in four years the majority of Whistler homeowners will see an increase in the assessed values of their properties.
According to B.C. Assessment, property values have jumped in the range of 5 to 15 per cent in the resort.
“Most homes in Whistler are worth more on this year’s assessment roll than they were on the 2007 assessment roll,” said area assessor Jason Grant. “For example, increases of five to 15 per cent for single family homes and condominiums are very common.”
The past four years has seen the Whistler market in a stable to declining real estate price trend while values across the province soared.
“Clearly Whistler is starting to move again,” added Grant.
The province as a whole saw increases in assessed value in the range of 16 per cent this year.
A single-family home in Whistler Creekside, assessed at $882,000 on July 1, 2006 was assessed at $965,000 on July 1, 2007.
On the Blackcomb Benchlands a one-bedroom townhouse assessed at $737,000 last year has now been assessed at $780,000.
The changes in assessed value are indicative of price movement in the real estate market.
Overall the Resort Municipality of Whistler’s assessment roll, or the value of all properties in the resort, increased from $10.12 billion to $10.7 billion. That growth not only reflects the changing market values in properties but also roughly $87 million of subdivisions, rezoning and new construction.
Kelly predicts the trend of increasing values in Whistler to continue until past 2010.
Pemberton Real Estate market Climbing!
Pemberton’s assessed values also climbed, though on a slightly smaller scale to Whistler.
“For example, increases of five to 10 per cent for single family homes and condominiums are very common,” said Grant.
A single family home in Pemberton valued at $391,000 last year is now valued at $419,000.
Squamish had the biggest increases overall in the corridor, with assessed valued increasing 10 to 20 per cent over last year.
A single family home in Garibaldi Highliands valued at $480,000 last year is now valued at $517,000.