March was busy in Whistler with a number of different school break weeks and an early Easter. In spite of mild temperatures, the snow has held, offering some great spring skiing which will continue into May. There are still several events planned, with the World Ski & Snowboard Festival running from April 8-14, the Whistler Cup on April 11 and the Saudan Couloir Ski Race Extreme on April 12 – noted as the steepest ski race in the world.
Blackcomb Mountain and the Peak to Peak close on April 14 and the bike park will open on May 17 with access from the Village on the new 8 pack Fitzsimmons chair.
WHISTLER MARKET REPORT MARCH 2024
Sales dropped slightly in March with a total of 39 while listings continue to increase as is typical this time of year. There are currently 295 properties on market in Whistler, the highest inventory since 2020, so lots to choose from.
Market Sales
PEMBERTON
Pemberton sales picked up a bit in March with 8 sales – 6 condo/townhouse properties and 2 chalets.
For those in the Irish Spirit, Happy St Paddy’s Day – It’s always a festive day in Whistler! And this year you can enjoy your green beer on the patio, given a forecast of 15-17C through the coming week! This on the heels of 158 cm of powder in the past 7 days. It certainly has been an interesting season.
WHISTLER MARKET REPORT FEBRUARY 2024
February saw a significant increase in sales from January, with a total of 43. Phase 1 properties led the way as usual, but there were strong sales in Shared Ownership and Phase 2 Hotel Units, particularly the Westin Hotel. In the Phase 1 category, we saw the largest sale to date with a Four Seasons Private Residence at $9,300,000.
PEMBERTON
Pemberton continues to be slow with only 4 sales in February – 1 Chalet, 2 Townhomes and 1 Vacant Land.
LOOKING FORWARD
Interest rates continue to hold but are still forecast to come down mid-year, which should spur some buying activity. There’s lots to choose from, with 286 listings and good selection in all property categories.
DO YOU PLAY PICKLEBALL?
It’s been quite the weather system this season, from “Artic Air Warnings” to the current “Atmospheric River” which has brought persistent rain and warm temperatures to the Sea to Sky region. Pemberton and Squamish have been on flood alerts, Lost Lake has temporarily closed X-country skiing, and Whistler Blackcomb has struggled to keep runs open as snow gradually disappears. But it looks like the tide is turning, with cooler temperatures, sunshine and snowfall in the forecast for the coming week. In the meantime, Pickleball at the Whistler Racket Club seems to be a great pastime in lieu of snow sports!
WHISTLER MARKET REPORT JANUARY 2024
Given the weather, its not surprising that real estate sales have also been slow. Whistler had 27 sales in January, including a $13,000,000 chalet sale. Following are the sales by category:
The year is starting off a bit better than last January and with interest rates holding steady – and projections of rate cuts by July – we should see higher consumer demand and a stronger market as the year progresses.
In spite of low demand, Whistler has stayed in a Balanced or Sellers market throughout the past year except for a slight dip in December into a Buyers market. However as we move towards spring, we will likely see inventory increase.
Whistler Sales:Active Listings 12 Months
PEMBERTON
Pemberton had another slow month with only 5 sales – 3 Chalets, 1 Townhouse and 1 vacant land. While last year started out well, the summer saw a dip into a Buyers market which has remained.
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.
The holiday season is about to begin and while conditions are still limited, there is more snow on the way and the resort will have lots of activities for everyone. For the more adventurous, check out this fun video of Extreme Santa https://bit.ly/46OPKzX . And for a full calendar of events through Christmas and New Years, check out Tourism Whistler at https://bit.ly/3uMBevi.
WHISTLER MARKET REPORT NOVEMBER 2023
Sales in November were down 58% from October with only 24 properties sold. This is the slowest month this year after January, where we had only 20 sales. The median sale price rose 28% but may be skewed given the sample is small and includes a number of high end sales.
While Phase 1 properties led the way with 8 sales, chalets were close behind with 7 sales. Phase 1 hotel units, Residential Townhomes/Condos and Shared Ownership made up the rest with 3 sales in each category.
Year over Year, sales are down 13% overall, days on market (DOM) is up 64% and average sale price is down 10%.
LOOKING AHEAD
The Bank of Canada rates held steady once again, which may increase Buyer confidence. Sales tend to slow through the holidays and into January, but inventory remains high so we hope to see increased sales in 2024.
Wishing you all a joyous Holiday Season!🎄
HAPPY HOLIDAYS!
The holiday season is about to begin and while conditions are still limited, there is more snow on the way and the resort will have lots of activities for everyone. For the more adventurous, check out this fun video of Extreme Santa https://bit.ly/46OPKzX . And for a full calendar of events through Christmas and New Years, check out Tourism Whistler at https://bit.ly/3uMBevi.
WHISTLER MARKET REPORT NOVEMBER 2023
Sales in November were down 58% from October with only 24 properties sold. This is the slowest month this year after January, where we had only 20 sales. The median sale price rose 28% but may be skewed given the sample is small and includes a number of high end sales.
While Phase 1 properties led the way with 8 sales, chalets were close behind with 7 sales. Phase 1 hotel units, Residential Townhomes/Condos and Shared Ownership made up the rest with 3 sales in each category.
Year over Year, sales are down 13% overall, days on market (DOM) is up 64% and average sale price is down 10%.
LOOKING AHEAD
The Bank of Canada rates held steady once again, which may increase Buyer confidence. Sales tend to slow through the holidays and into January, but inventory remains high so we hope to see increased sales in 2024.
Wishing you all a joyous Holiday Season! 🎄
OPENING DAY NOVEMBER 23!
The weather has recently turned, bringing colder temperatures and lots of precipitation, and some much needed snow to the alpine – 79 cm forecast over the next week.
In the meantime, Cornucopia wine and food festival runs from November 9 – 19, followed by the Whistler Film Festival November 29 – December 3. Learn more about these and future events at Tourism Whistler https://www.whistler.com/events/.
WHISTLER MARKET REPORT OCTOBER 2023
Sales increased in October, with 50 sales, up from 32 in October.
Phase 1 properties led the way at 17 sales, followed closely by Phase 2 hotel units with 13 sales – a strong increase over previous sales which saw an average of 5 sales per month. Half of these hotel sales were at Blackcomb Lodge, with prices ranging from $249,000 to $349,000. These units good option for owners with more occasional use as they restrict owner usage to 28 days in summer and 28 days in winter. They offer a more affordable entry into the market for full ownership properties in a central location, that also provide a revenue stream.
The majority of Buyers continue to be Canadian, with 5 from the US, 1 from Mexico and 1 from Hong Kong.
LOOKING AHEAD
In spite of stronger sales last month, year over year total sales are down 13%, average Days on Market (DOM) is up and median sale price is down 13%.
The Bank of Canada did not raise the rates in October but there is still a lack of confidence that they will maintain this in the new year. However with high inventory, a slower market and softer prices, this is an opportune time to get in to the market before the tables turn.
TIS THE (END OF) THE SEASON!
The golf courses are closed, the mountain is closed, and Thanksgiving is behind us…bring on the quiet time and bring on the snow!!
WHISTLER MARKET REPORT SEPTEMBER 2023
Sales continued at a slow pace through September with only 32 sales, along with an 18% increase in listings and a 19% decrease in median sale price. There were only 4 chalet sales in a wide price range – $1.8 M, $3.8M, $11.5M and $12.1 M!! Phase 1 properties saw 11 sales, followed by Phase 2 hotel units at 7 sales. A parking lot in Pan Pacific Mountainside sold for $195,000 – the highest price on record – which made international news!
Year over year we’ve seen a decline in sales in all categories except for Residential Townhouse/Duplex properties which are up 10%.
LOOKING AHEAD
With the rapid increase in interest rates, many Buyers are sitting on the sidelines and also awaiting news from the Bank of Canada on October 25 which may not rule out another hike. But there are lots of properties to choose from for those who want to look at the long term and get in the market now.
The last big event of the summer, the Grand Fondo, is now behind us. It was a glorious day with riders from all over the world participating and then enjoying the Village apres-ride activities. Things are much quieter now, but there’s still lots to do in and around town, albeit with more limited access. You can still access the mountain by gondola or hike up the beautiful Ascent Trail. Check the mountains’ hours of operation here https://bit.ly/3sT4Kid.
WHISTLER MARKET REPORT AUGUST 2023
The year started off slowly with only 20 sales in January but increased steadily to a high of 64 sales in May but then a steady decline through the summer to only 30 sales in August. At the same time, the number of active listings increased from 219 to 223 however the average Days on Market (DOM) decreased 23% from 68 to 52 days and the average sale price rose slightly.
Phase 1 properties led the way at 13 sales. The remaining sales were comprised of 5 Residential townhomes, 4 Chalets, 4 Shared Ownership, 3 Phase 2 hotel units, and 1 Duplex.
Year over year we’ve seen an increase in listings along with a decline in number of units sold, total sales volume and average sale price. Days on Market has increased as well, with Shared Ownership being the longest to sell at 90 DOM.
The exception is Vacant Land – of which we have a shortage. While there were only 11 sales to date in 2023, they sold within 47 days on average, with a median sale price over $2 Million – up 16% year over year.
LOOKING AHEAD
With interest rates holding steady (for now!), and lots of properties to choose from, this is a good opportunity to look at purchasing if you are in the market for a Whistler getaway!
Disclosure: Data from the Whistler Listing System (WLS) is believed reliable but should not be relied upon without verification. While the Information is considered to be true and correct at the date of publication, changes in circumstances after the time of publication may impact on the accuracy of the Information. The Information may change without notice and Engel & Volkers Whistler is not in any way liable for the accuracy of any information printed and stored or in any way interpreted or relied upon by a user. The WLS and Engel & Volkers Whistler assume no responsibility for its accuracy.
Mother Nature just keeps on giving! We’ve had continued hot sunny weather throughout July and so far into August, with more in the forecast. Crankworx was a big success again this year and the August long weekend was a very busy one. Next on the Big Event calendar is the Vancouver – Whistler Gran Fondo on September 9 – 122Km up the beautiful Sea to Sky highway with apres activities in Celebration Plaza. Join in the ride or bring your cow bell and come cheer on the riders!
WHISTLER MARKET REPORT JULY 2023
By the end of July this year, when comparing to the same period last year, Whistler had 23% more listings and properties have been taking about twice as long to sell. Properties sold in one month on average last year, whereas this year the average time taken to sell a property is two months.
Despite there being more listings this year, Whistler has seen a 19% drop in total number of sales. The average sale price has also fallen approximately 12% and sits around $1.38 million for this year-to-date. When looking at the total sales dollar volume for the year so far, Whistler sales are pacing 20% lower than 2022.
Looking at the different property categories, the most significant change in median sale price year-over-year is in Chalets (single family homes) which have a 27% lower average price.
Phase II (tourist accommodation hotel condos) have seen the most significant drop in total number of sales, with almost 40% fewer hotel condos selling this year.
Residential condo sales are down notably from last year with 44% lower sales volume year-to-date.
The biggest change in the Whistler market month-over-month was the increased average number of ‘Days on Market’, with properties being listed 46% longer before selling than they were in June.
There were a total of 35 sales in July, only 3 fewer than the previous month. The median sale price for July held steady around the $1.4 million mark – not a significant change from the previous month.
TO END ON A HIGH NOTE…
The big news – which was also all over the news – was the highest sale price in history of a Whistler property. The stunning home in Stonebridge neighbourhood, which offers large estate lots of gorgeous views of Whistler & Blackcomb Mountains and Alta Lake, was listed on July 2, 2023 for $39,000,000 and sold on July 17 for $32,000,000 to an out-of-country Buyer. The house is an architectural masterpiece with features including cantilevered decks and infinity pool, expansive floor to ceiling class and floating staircase. The same Buyer also purchased the adjacent lot for $7,750,000!
Disclosure: Data from the Whistler Listing System (WLS) is believed reliable but should not be relied upon without verification. While the Information is considered to be true and correct at the date of publication, changes in circumstances after the time of publication may impact on the accuracy of the Information. The Information may change without notice and Engel & Volkers Whistler is not in any way liable for the accuracy of any information printed and stored or in any way interpreted or relied upon by a user. The WLS and Engel & Volkers Whistler assume no responsibility for its accuracy.
