Dave’s 2018 Sales to Date

2957 Kadenwood Drive – Listed at $6,995,000

8242 Mountain View Drive – Listed at $3,599,000

15-4701 Glacier Drive – Listed at $3,395,000

8326 Valley Drive – Listed at $2,985,000

8488 Matterhorn Drive – Listed at $2,890,000

31-2250 Nordic Drive – Listed at $2,695,000

8313 Chalet Drive – Listed at $2,498,000

2113 Helm Place – Listed at $2,399,000

2-2324 Taluswood Place – Listed at $2,495,000

6163 Eagle Drive – Listed at $2,299,000

2117 Helm Place – Listed at $2,095,000

2110-2112 Lake Placid Road – Listed at $1,990,000

6343 Fairway Drive – Listed at $1,949,000

16-4822 Spearhead Drive – Listed at $1,800,000

18-2250 Nordic Drive – Listed at $1,799,000

2228 Aspen Drive – Listed at $1,675,000

19-4661 Blackcomb Way – Listed at $1,649,000

9262 Emerald Drive – Listed at $1,625,000

2-2323 Taluswood Place – Listed at $1,625,000

22-4325 Northlands Boulevard – Listed at $1,469,000

6-1530 Tynebridge Lane – Listed at $1,390,000

1401-3050 Hillcrest Drive – Listed at $1,379,000

34 Garibaldi Drive – Listed at $1,350,000

219/220-4905 Spearhead Place – Listed at $1,290,000

403-4405 Blackcomb Way – Listed at $1,275,000

314-4749 Spearhead Drive – Listed at $1,190,000

214/215-4573 Chateau Boulevard – Listed at $1,208,000

216/217-4573 Chateau Boulevard – Listed at $1,178,000

4-4355 Northlands Boulevard – Listed at $1,149,000

332-4573 Chateau Boulevard – Listed at $1,049,000

109-1025 Legacy Way – Listed at $889,000

13C-3102 Panorama Ridge – Listed at $749,000

308-4314 Main Street – Listed at $736,000

2-7360 Pemberton Farm Road – Listed at $724,900

10-2101 Whistler Road – Listed at $699,900

302-2101 Castle Drive – Listed at $599,000

321-4368 Main Street – Listed at $549,000

102-2005 Nordic Place – Listed at $495,000

BP2-1400 Alta Lake Road – Listed at $475,000

12-1447 Vine Road – Listed at $469,000

108-2111 Whistler Road – Listed at $315,000

2018 Market Recap

Although the pace of sales has slowed in the 2nd half of 2018 from the beginning of the year, overall transaction values for the market have risen by approximately 7% since the start of the year.

The number of properties listed for sale has risen from recent historical lows. I am monitoring pricing and values in the 2nd half of 2018 to best guide clients on their real estate decisions.

Single family home (chalet) inventory has varied with an historic low of 46 listings at the end of March, increased to 75 in September, and the supply available for homes for sales decreased over the past few months to 58.

Properties zoned for vacation/nightly/weekly/AirBnb rental (‘Phase 1’ zoned) have been in short supply and very high demand due to strong rental/revenue returns.

Overall in our market the trend is towards marginal increase in the amount of listings and the amount of time listings are available in the market before they sell, which also reflects a return to a more normalized market framework.

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 Numbers

Despite lower levels of activity, sales prices have continued to rise since the start of 2018. 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 homes 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

Moving into 2019 I expect that the market trends will continue. 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.

If considering buying, upsizing/downsizing or possibly selling your Whistler property,  I would be happy to discuss your goals, vision and create a plan to make a smart move!

Whistler Real Estate Market Report: Quarter 1, 2018

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 me on 604-935-7913.

Whistler Real Estate Year End Market Update 2017

As 2017 wraps up, we look back at a record breaking year for real estate in Whistler. Although sales volumes have declined due to the lack of properties on the market, prices have continued to soar and are reaching a peak. The median transaction value of chalets has increased by 19.5% since the end of 2016, bringing that median value to $2.04 million. 2017 saw an increase in attention towards luxury properties (those over $2 million) which has helped increase values and statistics, as almost 13.5% of all transactions occurred in this high-end market segment.

The total year to date transactions between Pemberton and Whistler as at 4th December 2017 was 1,010 compared to 1,213 a year ago. Values have not been impacted by the drop in activity.

As we look forward to 2018, we expect that with the lack of inventory, continued buyer interest in Whistler, the Vale Resorts takeover, a busy and well booked resort and a good snow year, that the real estate market will continue to be active.

For specific market segment information, please contact Dave on 604-935-7913.

Whistler Real Estate – Market Update 2017

In the final quarter of 2017, Whistler sales activity is continuing at an active pace, despite being slower than the first half of the year. The pace of business is still above historical averages and the slowing of sales is largely attributed to the extremely low number of properties being offered for sale which in turn has continued to drive prices upwards to heights never before reached in the Whistler market.

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.

Whistler Real Estate Third Quarter Stats

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.

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.

Sold in 6 Days (and for full price!) 2607 Callaghan Drive

callaghan-drive

Another listing sold in under a week! 2607 Callahan Drive in the Sunset Ridge area of Bayshores was sold for full price ($1,665,000) in only six days. The Whistler market continues to be very active with quality properties such as this attracting strong demand. This particular home is perfectly positioned close to the Creekside gondola with easy access to the highway for recreational property owners and is also walking distance to several shops and some of the best restaurants in town.

Read more Sold in 6 Days (and for full price!) 2607 Callaghan Drive

[SOLD] 309 Glacier Lodge #309-4573 Chateau Boulevard

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glacier-lodge-bed glacier-lodge

 

 

 

 

 

 

 

Rare two bedroom, two bathroom condo in the desirable Glacier Lodge is now available for the first-time ever on the MLS. This exquisite ski-in ski-out condo boasts the best location in the complex with an southeast corner outlook, and one of the most sought-after positions in Whistler, right beside the Fairmont Chateau and overlooking the slopes of Blackcomb Mountain. If you have been waiting for that perfect investment property, recreational home or place to live and call home in Whistler this is it! Phase one zoning means there are no rental or residency restrictions meaning there are no maximum days you can stay.

Read more [SOLD] 309 Glacier Lodge #309-4573 Chateau Boulevard

Whistler’s Real Estate Market in 2007, 2012 and 2017

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whistler-real-estate

For a long time now we have been talking about the real estate market and what has characterized the market in recent years. In 2017 it’s all about low inventory, rising prices but what did the market look like five and ten years ago? Here we take a glimpse at Whistler’s real estate market in 2007, 2012 and 2017 to get a good understanding of how the market has changed in the last ten years and possibly get some insight on how the market may look in the future.

Read more Whistler’s Real Estate Market in 2007, 2012 and 2017

Technology and Innovation in Real Estate

real-estate-technology

real-estate-technology

Like all industries, the real estate industry is evolving due to the prevalence of new technologies and the changing ways that people communicate, do business and live their everyday life. Although there are traditional aspects of real estate that will likely never be fully replaced (viewing properties in person, meeting your real estate agent face-to-face, physically moving home), technology is helpingpeople streamline processes, conduct research and interact with properties. Here are some of the biggest ways technology is impacting the real estate industry in 2017.

Read more Technology and Innovation in Real Estate

Whistler Real Estate – First Quarter Market Update

 

Market activity during the first quarter of 2017 stayed consistent with that of the previous quarter but was significantly below that of the same period a year ago.

As was identified in our last report, historically low levels of the number of properties for sale has restricted the amount of activity although there has been no reduction in buyer interest. This has caused values to continue to trend upwards.

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.

Now more than ever it is important to work with a full time local advisor who can monitor the constantly changing marketplace and advise you in the nuances of our very specialized marketplace.

3 Pricing Strategies and When to Use Them

Pricing-Your-Home

Pricing-Your-Home

Pricing your home is an important decision and can differ, depending on the outcome you are after. If you are thinking of putting your home on the market, the first step is to have a clear picture on the outcome you are hoping for. Are you looking for a quick sale, perhaps because you have another offer in place that is subject to the sale of your home? Would you prefer to remain conservative and price your home at market value based on research and evidence of similar recent sales in your area? Or would you like to take a more speculative approach? You know the market is hot, and you’re in no rush to sell, this strategy can produce ultimate rewards but also has drawbacks which we will discuss. There are three main ways to price a home for sale, which option is right for you?

Read more 3 Pricing Strategies and When to Use Them

The Importance of Home Inspections and Common Problems

home-inspection-whistler

home-inspection-whistler

When purchasing a new home the importance of a home inspection should never be overlooked. When dealing with what may be the largest capital investment of your life, ensuring you know exactly what you are dealing with is important. When a seller puts their home on the market they must disclose problems and latent defects on the Property Disclosure Statement. In some cases, sellers will even commission a home inspection before their home goes on the market to rectify any problems and have a deeper understanding of the condition of their home to assist with pricing. Under almost all conditions it is recommended buyers organize their own independent home inspection too; this is often worked into the contract as one of the subjects to sale.

Read more The Importance of Home Inspections and Common Problems

The Millennial Buyer Is Here

The Millennial Buyer is here, and although they may not be knocking on the doors here in Whistler just yet, they are expected to make up over 50 percent of buyers from 2018 onwards, overtaking gen xer’s as the largest buyer segment. Millennial Buyers, who were born between 1981 and 1997, are now in their ripe years for buying property with the median age of the millennial homebuyer 29 years old. This group of buyers is vastly different than its predecessors and there are several economic, social and environmental factors that has shaped the way these young adults buy. So what does a Millennial Buyer look like, and will we see an increase of them here in Whistler?

Read more The Millennial Buyer Is Here

Quick and Easy Ways to Increase the Resale Value of Your Home

home-value

home-value

We’re heading into Spring, a popular time for people to sell their homes. If you’ve been considering selling but aren’t sure your home is ready, or are ready to sell and want to know how to get the maximum amount for your property, here are some quick and easy ways to increase the resale value of your home. With the current market conditions here in Whistler properties are selling in record time. That doesn’t mean these simple fixes should be overlooked as they are proven to increase the value of homes giving you more money in your pocket.

Read more Quick and Easy Ways to Increase the Resale Value of Your Home

The Steps to Listing Your Home For Sale

Home-For-sale

Home-For-sale

Spring is quickly approaching which is typically the busiest time of year for people to put their homes on the market. Although Whistler doesn’t follow characteristic real estate trends Spring is, year after year, a popular time to sell, and with the current state of record-low inventory, those that do decide to sell their home this Spring will be richly rewarded. If you have an investment property in Whistler, or are looking to sell your recreational or full-time home, here are the steps to listing your home for sale. These vary slightly depending on motivations, if a property is tenanted and other unique conditions but as a seller this is what you can expect with the process.

Read more The Steps to Listing Your Home For Sale

6 Signs of a Good Real Estate Investment

property-investment

property-investment

Whistler is a unique real estate market with a high concentration of investors and recreational property owners. When purchasing a property for investment purposes additional criteria should be examined outside of purchase price and days on market. As a world-class tourist destination Whistler presents some features that make it much different than other markets in terms of real estate investment. Here we look at six important metrics to assess when considering an investment property. If you are thinking of buying an investment property in Whistler I would be happy to help you qualify the investment and answer any other questions you have.

Read more 6 Signs of a Good Real Estate Investment

Now Is A Great Time To Be A First-Time Home Buyer

If you are a first-time home buyer and haven’t yet heard, the BC government has just launched a new program to help you buy your first home. This coincides with several other programs in place already, to help first-time buyers acquire their first property. If you are a first-time buyer looking to enter the property market in Whistler, these programs can be immensely helpful. I am happy to answer any questions you may have about any of these programs, and can connect you with the information and professionals to ensure you receive your maximum entitlements as a first-time buyer.

Read more Now Is A Great Time To Be A First-Time Home Buyer

2017: Whistler Real Estate Trends to Watch

We’re just a few days away from the start of another new year, which means that it’s time to pull out the crystal ball and make some predictions for the Whistler real estate market in 2017.

The past year was one for the books: low inventory paired with high demand meant that the Whistler real estate market was as hot as ever. Will the market continue its rise into 2017? Here’s what we could be in for.

db-trends-2017 Read more 2017: Whistler Real Estate Trends to Watch

Negotiations – Beyond the Purchase Price

When buying or selling real estate, there is often a lot of focus on the sales price. It is logical that buyers want to pay the lowest price possible, while sellers aim to keep the price as high as they can.

Because price is so important, it is often a key factor when it comes to negotiations. Offers and counter offers go back and forth, each party striking out the previous price and suggesting a new one in its place.

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There’s no doubt that price is a point of negotiation in buying and selling a property – but it is only one of many factors that can be negotiated in the contract of purchase and sale.

Read more Negotiations – Beyond the Purchase Price

Determining Your Whistler Property’s Listing Price

“How much are we going to list it for?”

This is a commonly asked question among Whistler homeowners preparing to sell their property. Determining an appropriate listing price is part art, part science. There is no simple formula that we can plug variables into; rather, pricing a property requires research, analysis, and both quantitative and qualitative adjustments.

db-listing-price Read more Determining Your Whistler Property’s Listing Price