The weather and mountain conditions have been challenging over the holidays, with warm weather, rain and limited terrain, but the resort was still hopping and Mother Nature has dropped 103 cm of snow in the past week, so it appears the tide is turning! Hoping you and your friends and family had a wonderful holiday season!
WHISTLER MARKET REPORT YEAR END 2023
Sales in December were down again slightly from November with 22 sales, compared to 24 in November.
Phase 1 properties led the way with 9 sales, followed by Phase 2 and Shared Ownership at 4 sales in each category. There were 3 Residential condo/townhome sales and just 2 chalet sales, both under $2.5 million.
2023 marks the lowest number of sales in the past 5 years and the median sale price has dropped slightly in all categories with the exception of Phase 2 hotel units which have shown a slow but steady increase.
Canadians represented 90% of the buyers, followed by the US with 8% and a few sales from Australia, the United Kingdom and the Philippines.
PEMBERTON
Pemberton had the second lowest number of sales in the past 5 years with 98 sales, up slightly from 2022 which had only 93 sales – down over 50% from 2021. However, the median sale price has continually increased, at $852,500 – almost double that of 2019 which was just over $450,000.
LOOKING AHEAD
The Bank of Canada Policy Rate increased by 75 basis points in 2023. Predictions from the Big 6 Banks in Canada so far indicate that interest rates should start to decrease mid-2024 by 25-50 basis points and close out the year with a decrease between 100-175 basis points – which should result in increased real estate sales activity.
Wishing you all a happy and healthy 2024!