Whistler – Strongest Real Estate Market in a Decade

Whistler Real Estate

The Whistler Real Estate Market surges in strong leading into a stellar Whistler ski season

2015 will be reported as one of the strongest years in the last decade. The Whistler Real Estate Company is forecasting the total value of sales activity to exceed 675 million dollars – an increase of approximately 6% over the year before and the highest value since 2007.

whistler-realestate
How the numbers are changing numbers in 2015:

– number of sales year to date is the highest since 2008

– overall number of firm transactions is up 7.1%

– prices are up – pace of growth up 3.65%

– average transaction value is 11.3% over the same time last year

– listing inventory remains at 2008 levels

– sales are happening in less than 90 days

Some specifics:

– The single family home market had a 17% increase in activity and a 3% increase in average sales price to $1,693,000 as compared to 2014.
– The condominium and townhouse market experienced a slight decrease in activity due to the drop in available opportunities, however strong buyer interest in what’s available moved prices upward by 12% to $387,412 for condominiums and 10% to $740,097 townhouses for the year since the end of 2014.
– The luxury market (properties valued in excess of $2,000,000) reported a 30% increase in activity with an average value of $3,050,000. This increase is largely attributable to the increase in sales of luxury townhouses and unique acreage properties. Please call Dave for details on these sales at 604-935-7913.
– It is important to note that 75% of reported sales are valued below $1,000,000 and that Whistler continues to offer a full range of opportunities in all price ranges.

With interest rates expected to stay low and continued uncertainty in financial markets, real estate continues to be a safe haven for many people. Add in a favorable exchange rate for our international customers and the constant evolution of Whistler in terms of events and activities that  appeal to both residents and tourists, Whistler will continue to attract buyer interest and we expect prices to continue to trend upwards for the foreseeable future.