Summer is officially here and that means the Whistler Farmer’s Market is now in full swing on Sundays and you’d better get your Canada Day outfit ready. Whistler has a full day of celebrations planned for Canada Day including a pancake breakfast, parade and an outdoor concert by The Tenors.
Find all the details here: Canada Day in Whistler
Not to take away from the celebrations, but . . .July is Property Tax time and for those who own property in Whistler or Pemberton, your Property Tax payment is due by Tuesday, July 2nd. There are several payment options and you can find all the details on the following links:
Whistler Tax Payments or Pemberton Tax Payments
Whistler Market Update
The overall market has returned to “normal” market pace in terms of sales. 2017 and 2018 saw over 80 sales per month on average for the entire year with as many as 110 in some months through that period. 2013-2016 were average of 55-60 sales with highs of 70 and lows of 50 through those years. Since the beginning of 2019 we have been running at an average of 50-55 sales per month with highs of 60 and lows of 35.
Listings are the other part that needs to be understood to get a full understanding of the balance of the market. Currently there are only 333 currently listing available for sale.
Listings at this time period over previous years.
2019 – 333
2018 – 246
2017 – 191
2016 – 271
2015 – 504
2014 – 543
2013 – 636
2012 – 771
In terms of Sales. . .
Overall Market
Number of Sales per Year
2018 – 665
2017 – 890
2016 – 1047
2015 – 855
2014 – 755
2013 – 655
2012 – 587
Sales to June 28th – # of Sale -$ Volume – Average Price
2019 – 237 – $303M – $1,281,106
2018 – 381 – $465M – $1,220,346
2017 – 488 – $559M – $1,145,438
2016 – 573 – $516M – $901,649
2015 – 373 – $305M – $818,321
2014 – 349 – $234M – $672,996
2013 – 284 – $207M – $731,667
2012 – 285 – $189M – $665,126
There is no doubt that sales volume is down compared to the previous years and trending towards 2012-2013 but the dollar volume and the overall level of investment in real estate in Whistler is significantly higher than those years. Also average pricing has increased steadily year over year for the past 7 years exceptasie from 2014r. Year to date the average price is 5% higher than last year at this time.
So the market as a whole isn’t necessarily in poor shape in Whistler in terms of pricing at the moment compared to previous years. Which I attribute to the number of listings available in the market. I don’t expect that to change much in the coming months and years simply because we aren’t building any significant amount of new product any time soon. Also we have had a significant turnover in the market over the past 3-5 years and most owners are happy to keep their properties for the most part. Especially when revenues are high both in long term and short term rental situations.
So in conclusion, enjoy Canada Day, pay your taxes and check-in with us if you are considering any moves within the market.
Whistler Market Update – Week of June 28, 2019
20 New Listings
7 Price Changes
10 New Sales
Pemberton Market Update – Week of June 28, 2019
4 New Listings
7 Price Changes
3 New Sales
Photo Credit: Tourism Whistler/ Justa Jeskova