(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
Sutton Group WestCoast Realty-Whistler
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)
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