Hello from Whistler! I hope you and your family are well. It feels like the summer won't stop in the Sea-to-Sky. Now is a great time to take advantage of the quieter village, amazing deals on food and hotels and perfect weather for biking, hiking and golfing.
Here is what's been happening in the real estate market in Whistler:
IN THE NEWS:- Sales volume is down, but properties are still selling. Price them right: they will sell.
- The market has slowed, but I am still busy listing properties and making offers. There is always something moving in this market. The Sea-to-Sky is a desirable place to reside, recreate and invest. I hear more and more from buyers looking to live full-time and/or retire in Whistler.
- The median listing price so far in 2022 is $1,699,000 vs the median sale price of $1,490,000. This represents a discount of 12.3%!
- The median listing price in 2020 was $1,280,000 with a median sale price of $1,295,000.
- Median days to sell in September was 31 days, vs 58 days in August. During February 2022 the median days to sell was only 10 days!
- We've sold 1/2 as much real estate in Whistler in the first 9 months this year than we sold in all of 2021.
- Months of inventory is trending up again, from 7 months in August to 8 months in September.
- There have been 373 sales in Whistler year to date vs 810 sales in 2021. The lowest sales volume in the last decade was 522 sales in 2012. We are on pace to break that record in 2022.
- Listing inventory remains consistent with last month with 191 listings on the market. 27 of these listings were reduced in September 2022. If you've been looking for a deal, now is an excellent time to 'test the waters' and write some offers.
- There was a $17,250,000 chalet sold in Kadenwood in September. It's a good sign for the market when the uber-wealthy are not afraid to invest in Whistler.
- White Gold affordable housing project finally set to advance - any affordable housing being constructed in Whistler is a good thing. Staffing and housing have been a major issue in Whistler.
- Canada to Prohibit Foreign Buyers after January 1, 2023. There is a lot of uncertainty about this new legislation. Whistler is Canada's first resort and consists of real estate owners from all over the world. Whistler has been exempt from these types of prohibitions and taxes in the past. (Speculation Tax, Empty Homes Tax, etc.) "The Act prohibits non-Canadians from purchasing residential property in Canada for 2 years. This act doesn’t affect Canadians and permanent residents. There may be exemptions for certain groups of people, types of residential property, and particular circumstances – these have not yet been established." I will keep you posted with any news as it becomes available.
- Canada Plans to Ban Foreign Buyers for Two Years.
If you would like any more information about any listings, chat real estate or just say hi, please call, text or email me anytime.
If you know anyone buying or selling in the S2S, please forward them this newsletter. I am never too busy for your referrals.
If you know anyone buying or selling in the S2S, please forward them this newsletter. I am never too busy for your referrals.
All the best,
Matthew Callaghan - Personal Real Estate Corporation
Sutton Group - West Coast Realty
matt@whistlerrealestatelistings.com
604-966-8678
Sutton Group - West Coast Realty
matt@whistlerrealestatelistings.com
604-966-8678
