Fall is definitely in the air in Whistler and excitement is building in the community for the upcoming Winter season, especially after the snowfall to the valley we had this week!!
October 20th is municipal election day for Whistler. Some of the key issues for this election are housing and transportation. Here is the link for voting registration, including info for Non-Resident Property owners and mail-in voting options – Voter Information. Want to know more about the candidates, WORCA is hosting an all-candidates meeting in Whistler on October 9th, here’s the details. Make sure you get out to vote!
Whistler 3rd Quarter Market Update
I have run through the 3rd Quarter Sales numbers and have the following to report.
Year to Date
Total number of sales are down 26.3% from 716 (2017) to 528 (2018)
Total Dollar volume of sales is down 18% from $802M (2017) to $659M (2018).
Both these numbers are fairly significant decreases in the market as a whole. Especially when considering most of it has happened since the middle of the 2nd quarter. In positive news, the sales numbers match fairly closely to those of 2015 which was still a strong year for the market. On the listing side of things, we have seen an increase of the current listings over the past year by 20% from 200 to 250. This remains at historically low levels compared to the similar market volume levels of 2015 where we had 500 listings available.
The brightest spot for the 3rd quarter was in Chalet sales. We saw nearly 50% more Chalets sell in the 3rd quarter than in the 2nd and the same as in the 3rd quarter of 2017. It is also interesting to note that the median sales price of Chalets so far in 2018 are $2,499,000 vs $2,220,000 in 2017. The other bright spot for sales remains in the Phase 1 – nightly rental zoning market. We continue to see multiple bids on well-priced properties in good locations in this segment of the market. While there are some positives, it remains clear that the market is slowly shifting from a strong Seller’s market to a more balanced market.
Whistler remains a fantastic place to invest in your lifestyle for the long term and we are committed to making sure that the choices that you are making are done with the wisdom of experience and good solid data!!