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.
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.
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.
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.
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.
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?
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.
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?
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.
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.
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.
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.
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.
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.
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.
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.
2016 has been a record breaker year for real estate in Whistler. Selling conditions are as favorable as they have been in over 15 years.
Increased sales activity and a steady increase in values has been seen across all segments of the Whistler market this year. There are no signs of slowing, as we approach the ski season (with a huge amount of early season snow!)
Year to date Sales Statistics to the end of the 3rd Quarter:
When you decide to sell a property, you will quickly learn that there is quite a bit of paperwork associated with the sale. Among the forms that you’ll be presented with is one called the Property Disclosure Statement (PDS).
So what, exactly, is the purpose of this form that asks you about the history of your property? Do you have to fill it out? What if you don’t have all the answers? Not to worry – I’ve answered these questions (and more) so that you understand exactly what it is you’re filling out.
On the one hand, you’re in no rush to sell. You’ve had your Whistler property for several years now, and sure – it’s not getting as much use as it once did. But you still enjoy heading up every now and then, and it’s nice to have when friends stop by.
On the other hand, you’ve heard the Whistler real estate market is heavily favouring sellers right now, and you’ve wondered more than once whether it was worth the efforts and costs of maintaining the property when you’re spending so little time there. Maybe this would be a good time to think about cashing in…
“We do not write this as a favor for Dave, as anyone can see from his considerable accomplishments that he does not need our praise. No, we write this out of sincere gratitude for what Dave, Alison and others on his team have done for us in the sale of our Whistler townhouse. The sale greatly exceeded our expectations not only in the price achieved but also in the pre and post sale assistance and follow up. They were there for us every step of the way and helped make the transaction as stress free as possible. We were not his biggest clients but he treated us as if we were. Every call or email was promptly answered. It was A++ all the way, a true class act!!! (Ask Dave for our contact info in you would like further details of our experience.” ~ Rosemary and Bob