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REAL ESTATE MARKET STEADYING


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Blog by Doug Treleaven | June 3rd, 2009


Canada's housing market is showing signs of emerging from its winter hibernation.  The Canadian Real Estate Association reported a healthy pickup in sales nationally in both February and March, beyond the typical seasonal bump.  Preliminary reports suggest this firming trend continued in April.  The rise in demand, combined with fewer new listings has restored a better balance to the market.

Recreational property prices continue to hold relatively steady in Whistler, despite a decline in sales activity this year.  Moderate demand exists virtually across the board, with local purchasers and those from the Lower Mainland fuelling recreational property activity.  Americans are also active in Whistler, thanks to a stronger dollar.  While single family homes starting at $800,000 are popular with today's purchasers, condominiums remain most coveted - and affordable.  Starting values for a 2 bedroom with non-restricted use will be priced from $500,000.  With no new condominium construction planned in the years ahead, limited inventory in non-restricted developments such as the Aspens could see a significant upswing in price.

Sales are expected to increase one again after the 2010 Olympics - an event that will showcase Whistler's prime real estate, pristine landscapes and world-class recreational amenities on an international stage.