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June Market Statistics: Whistler

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Blog by Doug Treleaven | July 11th, 2017

Over the past 5 years June has been a relatively slow month of the year and this trend continued this year in terms of total transactions. However, this was the strongest June for both total transactions and sales volume that Whistler has seen since 2013. There was a slight drop in terms of total transactions from the strong month of May, dropping from 90 transactions to 81 transactions in June, but the sales volume exceeded $97.3 million which is the highest since April, 2016. However, it is important to study the statistics below in detail as the numbers are skewed by a select few large sales.

As of July 14th, Whistler's inventory sits at 188 across all property types. If you are in the market for a chalet there are 49 to choose from, but with this being a firm seller's market there are only 13 units listed below $2.5 million compared to 36 listed higher than $2.5 million. For those of you who are interested in getting in to the Whistler market for the first time, perhaps a condominium is the way to go. With 46 active listings, 16 are unrestricted units and 30 are restricted. With only 3 unrestricted units sitting below $600,000 the condo market is firmly favouring sellers. This means that your best bet may be an investment property that allows for some personal use to enjoy whilst generating income for the remainder of the year. Of the 30 active restricted condominium listings, 29 of them are less than $600,000. Townhouse listings remain fairly low with a total inventory of 32. 17 unrestricted units have a split of 5 units below $900,000 whilst 7 units are asking for more than $1 million. Once again, restricted townhouses are more affordable if you are simply looking to enter the market. The total number of active listings for restricted townhouses sits at 15, with 7 listed at less than $900,000.

Year to date (July 14th, 2017) sales volume is beyond $557.8 million across 494 transactions. For a more detailed breakdown of these numbers, continue reading below.

If you are looking for affordable land in the area with the ability to build your dream home, keep an eye on the WedgeWoods development. Phase Two and Three are almost sold out but there are more phases to be released. This is going to be a beautiful neighbourhood and could be perfect to embrace the Whistler lifestyle, but without the traffic!

If you have any other specific real estate questions, please call me at (604)-905-8626 or send me an email at doug@myseatosky.com and I'd be happy to help!

Total Sales
June saw 81 total transactions, making it the second weakest month of the year in terms of total transactions. However, thanks to a few high-priced sales, it was one of the strongest months in terms of sales volume, which exceeded $97.3 million. To put this into perspective, this was the 3rd strongest month since January 2013, falling to only February and April of 2016. This makes it the strongest June since 2013 and the strongest month of 2017.

Thanks to a few large condominium sales in the Four Seasons hotel, the sales volume for condominiums exceeded $37.9 million. Once again, this was the strongest June of the last 5 years for condominium sales, seeing 34 total transactions. Eliminating the 3 sales in the Four Seasons', the average sales price was still very high, sitting at $718,835. This was the 3rd strongest month of the year to date for condominium transactions, but was well and truly the strongest for total sales volume.

In contrast to condo sales, Chalet sales were very slow in June, largely thanks to low inventory levels. In fact, this was the second slowest June in the last five years, ahead of only 2016. A total of 10 transactions in June had an average sales price of $2.18 million, taking the sales volume above $21.8 million. This is the lowest sales volume of the year, whilst also being the second lowest sales volume for the month of June in the last 5 years, once again ahead of only 2016. This drop in sales for chalet's is consistent with the market trend over the last 5 years, with most chalet sales coming in the first quarter of the year. 

Townhouse sales remained steady in June, with 25 total transactions making it the second strongest month of the year to date. The average sales price for a Whistler townhouse in June was just over $1 million, also making it the second strongest month in terms of sales volume, behind only February. The strong real estate market in Whistler has meant that despite lower transactions than previous years, the sales volume of $25.078 million is the highest for the month of June over the last 5 years. To provide some insight in to how much the market has risen, June of 2014 had 28 total townhouse transactions but a sales volume of only $15.3 million. That is 2.8x more transactions but $10 million less sales volume!

Vacant Land
There were four vacant lots sold in June, excluding those from the WedgeWoods development. The prices ranged from $1.495 million to $3.950 million with an average sales price of $2.437 million.

To view Squamish click here 
For Pemberton statistics click here

Please note: All sales information is derived from the Whistler Listing Service and is believed correct. E&OE

The real estate market has been on fire this year, so if you're thinking of buying or selling, now is the time to do it! 
Browse my listings or call me on (604)-905-8626 to further discuss your options!