Mid-Summer Greetings from Whistler!
I hope you’ve been able to enjoy the beautiful summer weather we’ve had. It’s been an excellent summer for both resort activity and real estate activity. Events like the Tough-Mudder, Summer Concert Series, Ironman and Grand-Fondo continue to make the summer season a great success.
On the real estate side, it appears 2013 has brought stability to the local market. While we are still seeing some price reductions with specific types of properties, others are seeing multiple offers for the first time in many years. It’s evident that overall buyer confidence in Whistler continues to grow stronger. At a time of year when we typically see more listings come to market, this year we have experienced the opposite. Compared to the last few years listing inventory has continued to drop since the beginning of the year. The Whistler Listing System (WLS) is currently showing 560 *active listings compared to 669 *active listings a year ago. (*Chalets, Condos-Phase 1, Hotel-Condos Phase 2, Duplexes & Townhomes. Excludes Shared-Ownership.)
Active Listings Since 2009
With stronger Buyer demand and less to choose from than in the past few years Sellers are finally starting to see a balanced market. If a property is priced right and offers value, chances are it will sell within a reasonable period of time.
Here’s a quick snapshot comparing 2013 YTD sales to the same period last year. Most noticeable is the increase in Chalet sales including dollar volume. The other property types are in line with last year with the exception of Phase 1 Towhomes that are down in numbers and dollar volume.
Sales 2013 Year To Date
|
Type
|
#Sales
|
$Volume
|
Highest
|
Lowest
|
|
Chalets
|
78
|
$112M
|
$10M
|
$350K
|
|
Condos
(Phase 1)
|
68
|
$31M
|
$4.8M
|
$91K
|
|
Condos
(Phase 2)
|
33
|
$5M
|
$460K
|
$50K
|
|
Townhomes
(Phase 1)
|
67
|
$49M
|
$2.7M
|
$180K
|
|
Townhomes
(Residential )
|
25
|
$13M
|
$930K
|
$220K
|
Sales 2012 Year To Date
|
Type
|
#Sales
|
$Volume
|
Highest
|
Lowest
|
|
Chalets
|
60
|
$90M
|
$4.4M
|
$543K
|
|
Condos
(Phase 1)
|
71
|
$32M
|
$2.6M
|
$118K
|
|
Condos
(Phase 2)
|
34
|
$7.4M
|
$598K
|
$50K
|
|
Townhomes
(Phase 1)
|
81
|
$59M
|
$1.9M
|
$200k
|
|
Townhomes
(Residential)
|
24
|
$11M
|
$810K
|
$245K
|
For more information on the market drop me an email of phone call.
Enjoy the balance of the summer!
Ron MItchell / Broker / Sutton West Coast Realty - Whistler
Cell: 604-938-3815 Email: RonMitchell@Sutton.com
