With three quarters of 2015 in the books, the Whistler real estate market is on track to have its most active year since the Olympics in 2010.
Total market activity is ahead 6.5% as compared to the same period one year ago. As a result, prices have continued to strengthen in all the major real estate categories. Overall, the average sale value of a transaction has increased by 10.7% since the beginning of the year to $801,468. This is also the highest level we have seen since 2010.
The single-family home market has been very strong throughout the year with an almost 20% increase in activity over 2014. Average sales value has also increased 5% to $1,727,000 since the start of the year.
The townhouse market remains healthy although activity is down slightly due to a significant reduction in properties being offered for sale. The average townhouse transaction value over the last 9 months is $778, 853, almost 14% higher than the same period last year.
Activity in the condominium market remains strong and average transaction values have increased by 6% to $394,326. With a strong summer season, rental properties are showing improved income performance and increase in interest as a result.
Based on current activity levels reported by our agents, we expect the balance of the year to continue to be strong. Favorable currency rates for non-Canadians, historically low levels of offered properties (listings), and the continued growth of diversity in the Whistler experience keeps the resort as a desired destination and real estate opportunity.
The Whistler marketplace is unique and nuanced however; I am well equipped to provide you with all the information you need to make the right real estate decisions. Call me anytime to chat!
Published: October 10, 2015