Greetings from the Sea-to-Sky! I hope this message find you well. Here are the highlights of what's been happening in the Sea-to-Sky in May 2022:
- There was $81,514,858 worth of real estate transactions in Whistler in May 2022 vs $143,022,350 in May 2021. A huge decrease in sales volume of 43%. Compared to even April 2022 sales volume of $96,400,650 that's a decline of 15%. The market is slowing down.
- The median sale price is at $1,555,000 so far in 2022 vs $1,287,500. This is an increase of 21% from 2021! Prices continue to rise, but properties are sitting on the market longer.
- Median Days on the Market for May 2022 was 24 days. Compared to the 11 Median Days on the Market for April 2022. A sharp increase of 118%
- 24 of the 45 sales in May 2022 were PHASE 1 properties. That represents 53% of the transactions in Whistler.
- List Price vs Sale Price in 2021 = properties were selling for 99.11% of their asking price.
- List Price vs Sale Price in 2022 = properties are selling for 94.24% of the asking price. Median prices are going up, but buyers are given more wiggle room to negotiate.
- TD's posted interest rate's today were 4.84% on a 5-year fixed mortgage. Last month they were 4.41%.
- According to a survey from Manulife Bank of Canada, 1/4 Canadians would have to sell home if interest rates rise more. More supply, and higher interest rates, are not an ideal combination.
- The Sea-to-Sky remains a HIGHLY desirable place to live and recreate. The S2S market is resilient, but I do expect a small dip in pricing.
- Median sale price is up 21% through the first 4 months of 2022!
- There were 174 active listings on the market in May 2022 vs 176 active listings in May 2021 and 359 active listings in May 2020! That's a decrease in listing inventory of 51% in 2 years!
- The median Days to Sell a property in April 2022 was only 11 days! This is on-par with the 12 days required in April 2021. It will be interesting to see if the May sales volume pick-up's though the remaining 2.5 weeks of the month.
Please let me know if you enjoy the newsletter! If you would like any more information about any listings or sale or to chat real estate, please email me here or call me anytime. If someone you know is considering buying or selling anywhere in the Sea-to-Sky, please pass on my info.
Matthew Callaghan - Personal Real Estate Corporation
Sutton Group - West Coast Realty
mcallaghan@sutton.com
604-966-8678
Best regards,
Matthew Callaghan - Personal Real Estate Corporation
Sutton Group - West Coast Realty
mcallaghan@sutton.com
604-966-8678
