Whistler Winter Newsletter 2013

                          Whistler Winter Newsletter 2013

Whistler,  February 2013               

Winter Greetings! 

As I write this we are having another fabulous winter snow season. Like last year, the snow started in early November and just kept coming. Christmas and New Years saw the Village filled to capacity and both Whistler and Blackcomb Mountains were wide open with superb conditions.  With the consistent reliable snow, great terrain and a village like no other resort it’s no surprise the 2013 Resort Guide from SKI Magazine once again named Whistler Blackcomb #1. Without being too biased, most of us agree. Whistler Blackcomb is deserving of a #1 spot as the biggest resort in North America with lots of snow, incredible terrain and a great village.

The top 10 Resorts as chosen by readers of SKI Magazine:
1. Whistler Blackcomb / 2. Deer Valley / 3. Vail / 4. Park City / 5. Telluride / 6. Jackson Hole / 7. Sun Valley/  8. Snowmass / 9. Beaver Creek / 10. Canyons Resort

While skiing and snowboarding are still the most popular winter sports, more and more visitors are enjoying our world class cross country skiing both in the Valley and up the Callaghan in the Whistler Olympic Park. Besides cross country skiing there’s the thrill of riding a bobsled at the Whistler Sliding Centre or participating in Biathlon at the Olympic Park.

Looking back to the summer it was another busy one with the summer events and festivals continuing to grow. We hosted the 3^rd Grand Fondo bike race from Vancouver to Whistler, our first “Tough Mudder” endurance event, and next year we’re thrilled to be hosting Ironman Canada.  Beside these formal events there’s the usual summer activities such as hiking, mountain biking and riding the world-renowned Peak to Peak Gondola. 

Whistler is a well established year-round alpine resort with a strong local community and the future looks very bright!

The Real Estate Market
On the real estate side we had a strong 2012 with total sales up by approximately 8% compared to 2011. Besides an increase in sales activity we also started to see the listing inventory drop as the year progressed. Back in January 2012 we started with 690 active Chalet, Condo, Duplex, Townhome and Vacant Land listings and the year ended with 558 active listings*. Chalets and Townhomes were the most popular properties in 2012. 

Condominium sales (both Unrestricted Phase 1 & Residential) remained relatively soft throughout the year. The number of sales transactions and property values were down from 2011.

Shared Ownership and Phase 2 Hotel-Units saw the weakest demand due to the current inability to finance these properties and the lack of qualified buyers. Both these Property-Types saw values drop in the 35% to 40% range from 2008 levels.  Overall these properties only represent a very small portion of the total market (approximately 5%). 

Looking Forward This Year
The majority of Whistler buyers (approximately 75%) continue to be recreational buyers from Vancouver and surrounding areas of the lower mainland. These owners are able to enjoy their Whistler properties and the Whistler lifestyle on a regular basis. With so much to offer and the time convenience of the highway, Whistler ownership is a healthy lifestyle decision. With Whistler properties offering good value and a strong BC economy, I expect this buying trend to continue through 2013.

If you would like more information on a specific Property-Type, Neighborhood or Complex drop me an email or a phone call. 

Enjoy the remainder of the winter and I hope to see you around Whistler!

Warm regards,
Ron

(Disclosure: In my endeavors to provide information to past and current clients, I periodically send real estate related information such as this. However, should you wish not to receive future mailings, please let me know and you will be removed from my database. This communication is not intended to cause or induce breach of an existing agency agreement.  *Sales Data Source - Whistler Listing System. E&O. E)