Tuesday, 28 February 2012

Real Estate Association of Whistler - Recent News

The local real estate association in Whistler known as the 'Real Estate Association of Whistler" (REAW)  recently launched a public website portal….WhistlerListings.com

This was accomplished through REAW receiving licensing approval from the two owners of the privately owned local cooperative listing system known as the Whistler Listing System.

Here's a recent article in the Real Estate Magazine - REM*
CLICK HERE



*REM is Canada’s premier business publication for the real estate industry. REM is published 12 times a year. It is independently owned and operated and is not affiliated with any real estate association, board or company.

(Footnote: Please note in my opinion some of the reporting information in the REM article may not be 100% accurate.)

The Vancouver Sun - Whistler Properties

Here's a recent article from the Vancouver Sun newspaper on the Whistler real estate market…. CLICK THIS LINK:
Vancouver Sun - Whistler real estate market February 17, 2012

Monday, 6 February 2012

Finally Some Positive News For The Local Whistler Market…

Whistler 2011 Real Estate Market in Review

Finally some positive news for the local Whistler market….as buyers look for attractive buys and acquire well-valued properties. As a result, the end of 2011 saw the highest number of sales since 2008.

2011 Total Sales = 543 *(Excludes Timeshare & Employee Housing). Compared to the previous year - 2010 = 450* 

Since the late fall of 2008 Whistler prices have continued to be soft with motivated sellers being forced to lower their asking prices in an attempt to attract the buyers. The 2010 Olympic year side-lined most buyers as they waited to see the impact of the Olympic exposure.  Given the state of the US & World economies it really was no surprise the post-Olympic market continued to be a buyers' market with high levels of inventory.

In summary, most buyers are acquiring properties for personal use. Selling values in many cases are 20%* to 50%* lower than the peak values of the past 10 years (especially years 2001- 2003). *(Depending on the Property-Type). The outlook for 2012 should be similar to 2011 with "Value-Buys" and "Personal- Use / Lifestyle" being the reasons for acquiring a Whistler property.

The bottom line is…If one has the financial ability and a Whistler place has been on your radar, 2012 will be another good year to acquire a Whistler property. 

Here's a Snapshot of the 2011 Whistler Sales:

Highest priced sale was a luxury chalet that sold for $8.7m 
24  sales over $2m.
70 sales between $1m to $2m.
387 whole ownership sales under $1m.
62 shared ownership sales.

Here's a look at Whistler's bedroom community -  The Village of Pemberton;
Total Pemberton &  Area sales:  2011=56 vs 2010=87. 


Data Source: (WLS) The Whistler Listing System  (E&O.E).

If you want more detailed information or if you are looking to connect with a knowledgeable group of agents, drop me an email or phone call. We're here to help!

Ron Mitchell
Managing Partner / Broker


Thursday, 2 February 2012

A Winter Surge in Whistler Business

From Tourism Whistler January 23, 2012


Perfect storm of conditions combine for surge in Whistler business….



Whistler, B.C. – An unprecedented snow advantage, combined with Tourism Whistler’s marketing efforts and pent-up post-Olympic consumer demand have aligned to create the perfect storm of conditions for Whistler, where bookings are up significantly this winter over last.
Tourism Whistler reports that December 2011 was the busiest December on record in terms of room nights booked, with an increase of approximately 12 per cent compared to December 2010 and a six per cent increase over the previous record held in December 2007.
Combined with increases in the month of January, February and March (room nights booked to date, as well as pace of bookings) the upward swing has resulted in a revised winter forecast from Tourism Whistler.
Research gathered originally indicated that room nights for the 2011/ 2012 winter would be up by approximately four per cent over the previous winter. With the latest numbers, however, Tourism Whistler has revised that forecast to be up by at least 10 per cent over last winter, in terms of room nights booked, making the 2011/ 2012 winter season the strongest winter since 2007/ 2008.
Improvements are being seen from all key destination markets however Tourism Whistler officials caution that the worldwide economic situation continues to play a role in resort business levels.
“It’s fantastic that we’re seeing the benefits of our efforts,” said Barrett Fisher, Tourism Whistler’s President and CEO. “Early results this season indicated a very positive response to our marketing initiatives – and there’s no doubt that we’ve effectively tapped into pent up demand.”
“However, we do have to recognize that while this is shaping up to be an exceptional winter season in terms of room nights,” said Fisher. “Consumer behaviour continues to evolve and we need to be cognizant of that and adapt accordingly.”
In addition to the success of Tourism Whistler’s marketing efforts following the unprecedented exposure from the 2010 Winter Games, Fisher pointed out several other factors affecting the positive results, including: gains in early bookings through tour operators, the resort’s early booking offers, interest generated by the Whistler Sabbatical Project, the resort’s 2011/ 2012 winter marketing campaign; and Whistler’s unprecedented snow advantage.
“Whistler capitalized on extremely positive positioning with our early booking efforts,” said Fisher, “and we know that the Whistler Sabbatical Project – which has received more than 15,000 entries and tens of thousands of viewers watching the weekly vignettes – has really resonated with people.”
The exceptional snow conditions in Whistler served to layer on additional bookings for the resort in recent weeks. Last year the resort received more than 52 feet of snowfall, shattering the average annual accumulation of 34 feet, and La NiƱa is helping pave the way for another strong snow season. Whistler has received 20 feet of snowfall to date and offers 8,171 skiable acres of terrain – more than any other destination in North America.
“We recognize how fortunate we are,” said Fisher. “Mother Nature has been very kind to Whistler and we’re pleased to see other resorts starting to receive some snowfall. That’s good for the entire ski industry in the long-term.”
The first few months of Whistler Blackcomb’s 2011/ 2012 winter season have been excellent, with 613 centimetres (241 inches) of total snowfall. The resort has received 68 centimetres (27 inches) in the past seven days and 28 centimetres (11 inches) in the past 24 hours. The forecast is calling for up to 45 centimetres (18 inches) this week. Visit Tourism Whistler website