Whistler Market Summer Newsletter

                                                                                                      (As of August 12, 2015)

It’s August and so far in Whistler it has been one of the most active, hot & dry summers on record. The array of events every weekend combined with the perfect weather and the low Canadian dollar has created quite a buzz. Tourism Whistler reported a 26% increase in visitations for the month of June compared to last year. For a full list of events and activities check out  www.WhistlerBlackcomb.com and  www.Whistler.com   

Real Estate Market Update

The real estate market has been active too! The first half of 2015 surpassed 2014 both in dollar volume and the number of sales. The Whistler Listing System (WLS) recorded approximately 373 sales in the first six months of 2015 with a total dollar volume of approximately $308m compared to 2014 with 352 sales and a dollar volume of $243m. 

What’s Selling?

Who’s Buying?

Summary

Highest Sale: $10,850,000 Chalet / Buyer: USA 

Lowest Sale: $30,000 Hotel / Unit Buyer: Canada

Property Types: Chalet:77 / Townhouse:112 / Condo:84 / Hotel:40  / Vacant Land:15

Duplex:10  / Triplex:3 / Shared Owner:32

Buyers’ Origin: Canada:317 / USA:26  / Hong Kong:13 / UK:6 / Singapore:3

Mexico:3 / Australia:2 / Germany:1 / Japan:1 / China:1

 The most common question I hear is “Are the Americans buying because of the low Canadian dollar?”  In one word “No” or two words “Not yet”. US residents are here in huge numbers as visitors taking advantage of the low Loonie, however at this point there is no significant influx of US buyers. At today’s posted exchange rate a $800,000 property converts to $609,840 USD. A good deal if you love Whistler and have US currency!

The Outlook

I expect the second half of this year will continue to build on the trends we have seen over the past three years. Continued low interests rates, strong local demand from within British Columbia and select interest from non-resident buyers capitalizing on the low Canadian dollar. Buyers continue to see excellent value in Whistler ownership with lifestyle being the main influencing factor.

For more detailed information on specific property types of interest please contact me.

Ron E. Mitchell

REALTOR® /BROKER

Mobile: 604-938-3815

Ron@SuttonWhistler.com

Sutton Group WestCoast Realty-Whistler

http://www.suttonwhistler.com/blog

Disclosure: In our endeavours to provide information to past and current clients, we periodically send real estate related information such as this. However, should you not wish to receive future mailings, please let us know and we will remove your email address from our database. This communication is not intended to cause or induce breach of an existing agency agreement. Data is from the Whistler Listing System. Time frame Jan 1, 2015 to June 30, 2015. Excludes: Timeshare, Parking Stalls, Whistler Housing Authority. Written by Ron Mitchell REALTOR®/ BROKER. (E&O.E)

Real Estate Whistler - Snapshot May 2015

                            Real Estate Market Snapshot for the month of May 2015.

New Listings:  75 

Highest:  $4,690,000   Chalet 

Lowest:   $69,900 Quarter-share 

Property Types:   

Chalets:   21  

Condos:   17   

Hotel Units:   10   

Townhomes:   20  

Shared Owner:  2      

Duplex:  2  

Vacant Land:  3  

Firm Sales:  59 

Highest Sale:  $10,850,000  Chalet 

Lowest Sale:   $60,000  Shared Owner   

Property Types:   

Chalets:   14    

Condos:   13  

Townhomes:   18  

Hotel Unit:  5  

Shared Owner:  8   

Vacant Land:  1  

Buyers’ Origin:    

Canada:  52 

USA:  6 

Great Britain:  1  

Source:  WLS – Whistler Listing System  (E&OE)

Real Estate Whistler - Weekly Snapshot for June 1 - 7, 2015

                               Real Estate Whistler - Weekly Snapshot for June 1 - 7, 2015

New Listings:  24

Highest:  $4,499,000   Chalet

Lowest:   $85,000  Quartershare

Property Types:  Chalets:   8 / Condos:   2 / Hotel Units:   2 / Townhomes:   9 / Shared Owner:  3

Firm Sales:  10

Highest Sale:  $2,525,000  Townhome

Lowest Sale:   $242,000  Townhome

Property Types: Chalets:   3 / Condos:   1 / Townhomes:   5 /  Hotel Unit:  1

Buyers’ Origin:   Canada:  9 / USA:  1 

Source: WLS - Whistler Listing System (E&0.E)

Call Ron
604-938-3815

Whistler Spring 2015 Newsletter & Market Update

Whistler Resort April 11, 2015                                  Spring Greetings from Whistler! It’s April and on the calendar Spring is officially here. However for most of the  winter it looked and felt more like April. Spring-like conditions in the valley are a solid month ahead of the norm. The grass is growing, the frogs are croaking in the pond and the official Whistler Spring Flower, “The Skunk Cabbage” is  well on its way. We are all waiting and watching for that first bear sighting!  When I was writing my Winter Newsletter in early February it was warm, sunny  and a squirrel was sunning on the deck, in contrast, today is cool with snow flurries  in the valley. The good news, skiing in the alpine is excellent and the alpine snowpack is the highest of the season. Winter has arrived in the higher elevations. There should be some good spring skiing and boarding through April and early May. Whistler Mountain is scheduled to stay open until May 18th and Blackcomb is set to end operations as of April 19, which coincides with the end of the World Ski and Snowboard Festival. For a full schedule of events visit Tourism Whistler’s website:www.whistler.com  and Whistler-Blackcomb’s website: www.WhistlerBlackcomb.com  Real Estate Market Update On the real estate side the first quarter of 2015 reflected the trends of the past coupleof years, strong buyer demand with reduced inventory. Some property types and price ranges are seeing multiple offers within days of being listed. Overall the market is balanced however if you are a seller with the right property and price point, the pendulum is currently favouring you. Many Whistler property owners are curious whether or not the current weaker  Canadian dollar is attracting large numbers of US currency buyers. I have  compiled the following statistics from the first quarter to offer a snapshot of  the Whistler market. Read More Click Here

Real Estate Whistler - Winter 2015 Market

                                                 

                                                                                         January 30, 2015

                                                   Winter Greetings!

Or should I say Spring Greetings? As I look out the window it seems more like an afternoon in April. The sun is shining, a squirrel is sunning itself on the deck, the temperature is a pleasant 5 degrees celsius (41 fahrenheit) and we are very thankful Whistler Blackcomb has millions of dollars invested in snowmaking! Although the winter snow has been slow to make its big arrival I predict February and March to be the real big snow months. 

Opposite to the inconsistent weather, the resort has been in full swing. The Christmas - New Year holiday period was extremely busy and Tourism Whistler’s projections for the balance of the winter season are very positive. The Whistler of today has so much to offer giving winter vacationers more than just skiing and boarding. That’s what makes this place such a valued attraction. Visit: http://whistlerblackcomb.com & http://whistler.com

                                       Real Estate Market Update

On the real estate side, 2014 was another positive year. The upward trend in the number of sales over the past few years continued and with the strong buyer demand came a reduction in listing inventory. As indicated on the table below, both trends have been consistent since 2011. READ MORE

Whistler Market Update - Fall 2014

Whistler BC / October 2014 -  It’s officially Fall. The leaves are dropping, the weather is wet and the bears are searching for their last few greens.  A vast difference to a few weeks ago when the endless summer sun kept on shining and record setting temperatures kept summer rolling into September. Whistler locals will tell you it was one of the best summers of the past 20 years. Consistent sunny warm days kept the resort humming with activity. Now the powder hounds are happy to see the white stuff sticking to the runs on Whistler and Blackcomb. Just a month to go to opening day and the introduction of the new Whistler Mountain Gondola. For current information visit: 

Tourism Whistler Website &  Whistler Blackcomb Website

On the real estate side, reduced listing inventory and strong buyer demand defines the evolving Whistler real estate market in 2014.  This year has been marked by the most activity since 2007-2008. With the exception of shared-ownership and restricted-use hotel condos (Phase II), the remaining property types have moved from a buyer’s market to a balanced market.  In some situations, this shift is even edging to the advantage of sellers.

                                         Active Listings versus Total Sale 2009 - 2014 (as of Sept 30)*

As of the end of September the total number of transactions in 2014 increased by 16.5% compared to the same period in 2013, from 480 sales to 559 sales. Active listings for the same period decreased 13.6% from 588 in 2013 to 508 this year.  A more dramatic change is evident when comparing today with 2010. Active listings today are 46% lower than in 2010, 945 compared to 508. Sales are 67% higher, 333 to 559. *

The decrease in listing inventory and increase in sales activity has affected the supply - demand equation which has led to modest increases in values for most whole ownership properties.   

Well-priced properties that are in demand, sell quickly, in some cases with multiple offers. This is particularly true for properties under the million dollar price range. Buyers continue to look for properties that meet their personal lifestyle requirements, while offering good financial value. 

Going into the winter season, I expect the factors supporting this market will remain unchanged. The majority of buyers will continue to come from the Vancouver area and will acquire a Whistler property as a vacation home or investment opportunity. The weaker Canadian dollar will also increase interest from international buyers, particularly from the USA, Asia and UK.

The real estate market in Whistler is complex. There are a variety of property types from luxury homes to quarter-share condos, each with their own micro-market. As the market continues to evolve it is important to get the most current information to help you make the right decision whether you are selling or buying a Whistler property. If there is a specific property type of interest to you please contact me for the most recent market information. 

Enjoy the upcoming winter season and I hope to see you on the slopes!

*(Source: Whistler Listing System - October 19, 2014) 

Whistler Market & Resort Update - Summer 2014

                                            Whistler Market & Resort Update

July 2014

Sunny Summer Greetings!

It’s the second week of July and summer in Whistler is in full gear. It’s interesting to see how the summer season continues to evolve with an array of events and activities. The events list continues to grow; Tough-Mudder, Summer Concert Series, Ironman, Gran-Fondo, Children’s Festival along with the traditional Sunday Farmer’s Market. While the activities list is open ended; cross-country biking, downhill biking in the park, alpine hiking, kayaking, rafting,  stand-up paddling, zip-trekking, ATV tours, golf, tennis and don't forget apres on a sunny patio! For a full list of events and activities check out Whistler Blackcomb  and Tourism Whistler

On the real estate side the first half of 2014 surpassed 2013 both in dollar volume and the number of sales. The Whistler Listing System (WLS) recorded approximately 340 sales January to June 2014 with a total dollar volume of approximately $233M compared to 2013 with 267 sales and a dollar volume of $195M.

  

The second quarter of 2014 saw strong buyer demand. Total sales in Q2 were 176 compared to 143 in 2013. Townhouses saw the highest number of sale with 65 compared to 46 in 2013.  Unrestricted condos were next at 51 compared to 39 in 2013.  Single-Family Chalets/Cabins followed with 34 compared to 26 in 2013. Condo-Hotel units (Restricted Phase 2) were at 15 compared to 11 and Quarter-share ownership followed at 6 sales compared to 10 in 2013. 

(Source WLS. Excludes: Whistler Housing Authority, Timeshare and Parking Stalls)

To sum up I expect the second half of this year will continue to build on the trends we have seen over the past three years. Continued low interests rates, strong local demand from within British Columbia and select interest from non-resident buyers will keep our market on solid ground. Buyers continue to see excellent value in Whistler ownership with lifestyle being the main influencing factor.

For more detailed information on specific property types of interest please contact me.

Enjoy the summer!

Ron