Dear: valued clients and friends, I hope 2024 is off to an excellent start for you and your families! Thank you for making 2023 my best year yet! I am thankful for each and every one of my valued clients. Your business and referrals mean the world to my family and I. THANK YOU. Here's what was happening in the real estate market in 2023: * There were $850,836,417 worth of real estate transactions in 2023 vs $1,016,000,420 in 2022. * Sales volume is down 16.26% this year vs last. * There were 418 sales in 2023 vs 483 sales in 2022 vs 816 sales in 2021! * There were 16 Price Reductions in December (https://matrix.buywhistler.com/DE.asp?p=DE-3799369-11&k=62295XPHLV&eml=d2hpc3RsZXJyZWFsdHlAZ21haWwuY29t) in Whistler. * The prime interest rate in Canada (https://www.ratehub.ca/prime-rate) remains at 7.2% for the last 5 months. The Bank of Canada meets next on January 24, 2024. (https://www.bankofcanada.ca/press/upcoming-events/) * Here are the top stories for Whistler in 2023 (https://www.piquenewsmagazine.com/cover-stories/year-in-review-2023-8053954) according to the Pique News Magazine Median Sales Price and Sales Volume * The median sale price in Whistler settled at $1,500,000 for 2023. * The median sale price has decreased .4% this year vs last. Active Listing Inventory * Listing inventory remained steady at 224 active listings in December. * In November 2023 there were 231 active listings. * In May 2020 there were 325 active listings. * In January 2013 there were 555 active listings! List Price vs Sale Price * The median listing price in 2023 was $1,862,000. * The median sale price was $1,500,000. This represents a 19.44% discount! * Qualified buyers have more leverage than ever. Median Days to Sell vs Median Sale Price * The median days to sell in 2023 was 30. * It took the longest to sell a property in Whistler in September 2023 at 48 days on the market. * The quickest median days to sell was May, at only 17 days! * The median days to sell in 2014 was 74. WHISTLER CHALETS * The median sale price of chalets in 2023 was $2,895,000 vs $3,900,000 in 2022! * The median sale price of chalets in Whistler has decreased 25.77% this year vs last. List Price vs Sale Price * The median list price of chalets in Whistler was $4,390,000 vs the median sale price of $2,985,000. * This represents a 32% discount! * If you are thinking of buying a chalet, you have never had more buying power and room to negotiate! WHISTLER TOWNHOMES * Median sale price and sales volume remained steady in the townhome market in 2023. * There were 135 townhomes sold in 2023 vs 143 sold in 2022. WHISTLER PHASE 1 TOWNHOMES * The phase 1 townhome remains in high demand. * Excellent rental revenues, flexible owner usage, full kitchens, pools and hot tubs are some of the amenities that continue to make Phase 1 townhomes so desirable. * Phase 1 townhomes have appreciated 13.5% in 2023 and 55% since 2021! WHISTLER CONDOS * The median sale price for condo's is down 1.88% in 2023. * This includes: phase 1, phase 2 and residential condos. * Sales volume remains steady at 187 sales in 2023 vs 208 sales in 2022. WHISTLER PHASE 1 CONDOS - ZONED FOR NIGHTLY RENTALS * Median sale price of phase 1 condos was down 12.4% in 2023. * Sales volume remained consistent at 100 sales in 2023 vs 98 sales in 2022. WHISTLER PHASE 2 CONDOS - ZONED FOR 56 DAYS OF PERSONAL USE * Median sale price of phase 2 condos was up 4.5% in 2023! * Sales volume has dropped slightly from 89 sales in 2022 to 71 sales in 2023.