Strong and steady remains the description of the real estate market. Overall, we are consistent with sales volumes that were achieved in 2014.
Chalet sales (year to date) median price is $1.4M. Last year for the same time period it was $1.250M. The Whistler Market median price of single family homes has increased 12%. Sales of chalets is up 9%. Whistler sold 123 (YTD) single family homes this year and 112 last year during the same time frame.
Our market is on track for another big year. Understand the stats so you don’t miss out! As a result of two strong years in real estate; prices are trending upwards and buyers are being forced to focus on higher priced properties. The strongest pressure has been on our chalet or town home market. A Buyer can easily find themselves in a multiple offer situation.
The townhome market faces the largest pressure and sales are up along with prices due to the rising costs of chalets and Buyers seeking to find an affordable alternative.
Vacant land is on demand due to the lack of choices and Buyers wanting to build their “dream in Whistler” as oppose to taking on a large scale renovation of an Old Timer’s A frame.
The condominium dollar volume showed a gain but a decline in the # of transactions demonstrating this market being the slowest to rebound. Also, maybe an indicator of some potential assessments in many of the buildings.
As a Buyer; be able to move quickly. Expect potential multiple offer situations and expect to jump in or anticipate watching prices climb. Anticipate fewer choices as the snow starts to fly.
For Sellers, October is a historically a strong sales month as many Buyers have been educating themselves and are now ready to purchase.