As we head into the month of July, the first half of 2017 comes to an end which gives us a prime opportunity to reflect back on the marketplace so far. Inventory remained low as the number of available properties was unable to match the demand and interest levels from both buyers and investors. Needless to say, sellers are reaping the benefits and the conditions of the market are entirely in their favor. 

Comparing the first half of 2017 to the first half of 2016, the current activity is lower simply due to the lower number of available properties. Despite this, sales activity has been extremely consistent over the course of the past year & this year, the trend is expected to continue with above average sales activity. 

NUMBER OF ACTIVE LISTINGS IN WHISTLER 2012-2017

CHALETS
CONDOS
TOWNHOMES

Source: Whistler Real Estate Listings

The Numbers

Given the market conditions described above, both the total value of all transactions and the average transaction value has increased compared to the last six month period. 

January-June 2017 compared to July-December 2016

METRIC
NUMBER
Total Transaction value
35% increase
AVG Transaction Value 
26%+ increase  ($1,144,309 vs. $904,360)
AVG price of single family home
$2,729,000
Average value of condominiums
Average value of townhomes
$611,081
$1,060,419
Value of Luxury Market 
$2,000,000+ (13% of all transactions)

Whistler Median Sales Prices 2012-2017

CHALETS
CONDOS
TOWNHOMES

What does this mean for you?

Supply is extremely low while demand continues to rise which is going to have an immense impact on future market activity. 

We expect:

  • Continued buyer & investor confidence 
  • No negative impacts from interest rates in the Whistler Marketplace
  • Unlikely interference from the new government in Victoria

Given Whistler’s exquisite beauty and strong presence within tourism, interest will remain strong in the area moving forward. 

Much like Whistler, Pemberton is dealing with a limited supply of properties available for sale despite growing buyer interest.

In the next 12-18 months, Pemberton is expecting new buildings & developments to come to the market; however, it seems as though sellers will be favored & prices will continue to rise. 

NUMBER OF ACTIVE LISTINGS IN PEMBERTON 2012-2017

CHALETSCONDOSTOWNHOMES

The Numbers

The number of transactions is relatively consistent and total activity has fallen (compared to one year ago), but the average values have risen. Buyers are searching for & pursuing the properties that are categorized as more affordable, especially in and around the Village. 

METRIC
NUMBER
Total Transaction value
$40,000,000
Average Transaction Value 
6% increase  (to $459,600)
Average price of single family home transaction
10.9% increase (to $669,000)
Average value of condominiums
Average value of townhomes
$327,800
$467,500
Homes located on acreage parcels
Fell to $822, 800 (driven by types of sales, not systemic drop in values)

Pemberton Median Sales Prices 2012-2017

CHALETS
CONDOS
TOWNHOMES

What does this mean for you?

It's important to understand that the values of individual Pemberton properties may differ significantly from data above simple due to the nature of the marketplace. There is such a large variety of styles and available data for such a "micro" market is limited. 

We've found that there are not enough large, rural properties to satisfy the demand. When and if a Pemberton property with these characteristics hits the market, it is often sold quickly (especially when priced properly)

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