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WHISTLER REAL ESTATE: MARKET UPDATE - MARCH 2024 |
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Dear: valued clients and friends,
I hope all is well with you and you and your families.
Here is what's been happening in the real estate market in March 2024: - There were 36 sales representing $77,918,000 worth of real estate transactions in March vs 34 sales and $62,140,800 in February. Sales volume has increased 25% month over month!
- There were 48 sales and $83,992,598 worth of real estate sold in March 2023. Sales volume is down 7.2% this March vs last.
- July was the busiest month of 2023 with $103,250,500 of real estate transactions in Whistler.
- There were 246 listings on the market in March vs 240 in February and 218 active listings in January.
- In October 2019 there were 330 listings on the market vs December 2021 when there were only 95 active listings.
- March 2024 had the most amount of listing inventory since October 2020 when there were 279 listings on the market.
- There were 100 sales from January to the end of March. There were 97 sales in the same period of 2023 and 182 sales in 2022.
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IN THE NEWS: - The Federal Budget 2024 announces the government's intention to increase the inclusion rate on capital gains realized annually above $250,000 by individuals and on all capital gains realized by corporations and trusts from one-half to two-thirds, by amending the Income Tax Act, effective June 25, 2024. Link to more information.
- The Underused Housing Tax will be in full swing as of April 30, 2024. The tax generally applies to foreign nationals with Canadian residential property, though the government said some Canadians and corporations may also face the tax. Link to more information.
- Agents and non-resident owners alike are hoping Whistler will be exempt from this tax in the future. If you are interested in reading the letter I wrote to our local MP, please click this link. If you agree with my letter, or to add your opinion on this new tax, please write our MP at: patrick.weiler.p9@parl.gc.ca
- If you are a non-resident owner in Whistler, please reach out to your Canadian accountant prior to the April 30, 2024 deadline.
- From BDO Accountant in Whistler: "There is an exemption that states the property is not suitable for year-round use, but we use it with the caveat that CRA may not accept it. The other option is to just use the property for 28 days in the year, however, this may affect the GST status if it is meant to be a rental property (GST deferred)."
- With Canada’s housing market “starting to turn a corner,” there is growing demand for homeownership with a “colossally high” number of people planning to buy a home within the next year, according to a new poll. Almost half (49 per cent) of the people surveyed by NerdWallet last month said that they plan to purchase a home in the next five years. That percentage is up from a year ago, when 43 per cent expressed the same intent. Link to article.
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Median Sale Price & Sales Volume - March 2024 |  |
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- The median sale price is now at $1,372,500. This represents a 7% decline from 2023. I expect the median sale price to rise as sales volume increases through the remainder of 2024.
- The median asking price is currently $1,699,000. Buyers are experiencing a 19.2% discount on their purchase price!
- Cash buyers are using this as leverage to secure some excellent deals in Whistler.
- The median days to sell in March 2024 was 30 days. This is an improvement from February at 36 days and January when the median days to sell was 50.
- There were 11 Price Reductions in March in Whistler. 4 of those properties are now sold.
- The prime interest rate in Canada remains at 7.2% for the last 8 months. The Bank of Canada meets next on June 5, 2024.
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NEW PRICE!
3310 PANORAMA RIDGE, BRIO ESTATES, WHISTLER - $3,498,900.00 |
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| Perfect family home in one of Whistler's best neighbourhoods: Brio Estates! The 3-Bed & 3-bath main house features panoramic views, vaulted ceilings, reclaimed hardwood floors, Bosh DW, Wolf Range and a private hot tub on a large & sunny deck! The lower level of the house features a separate 2-bed & 1-bath rental suite with private laundry and large deck. Ground level, you will find a 2-car garage for vehicles and still have space for all your gear! The newly installed heated driveway eliminates the need to shovel or plow in the winter. Lots of parking for 4+ cars. New metal roof in 2020. Just a short walk or bike ride to Whistler Village, shops, restaurants and lakes. Zero highway noise and very little street traffic in this sunny part of Brio. Sold fully furnished! |
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| 3 7381 MONTE VALE, PEMBERTON - $959,000 |
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| Centrally located townhome in Monte Vale in Pemberton's Glen neighbourhood! Large floor plan with 3.5 bedrooms & 2 baths and a double garage for all your gear and storage needs! The property features bamboo flooring, pellet stove, sunny deck and a fenced backyard; perfect for pets and kids. Located on the quiet side of the complex with Mt. Currie views and lots of natural light. Walking distance to town and schools. Currently tenanted at $3500/month + utilities. Low strata fees for a unit this size at only $372/month. Excellent starter home or investment property. Pemberton is one of the fastest growing communities in B.C.! |
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NEW PRICE!
1465 LABURNUM, PEMBERTON - $1,199,000 |
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| 3 bed & 2 bath + nanny suite on a large, flat and private lot in The Glen! Located at the end of a very quiet street with easy access to town and both schools. Beautifully landscaped lot with spectator views of Mt. Currie. Lots of space for parking and storage. Ready for you and your family to add their personal touch. The town of Pemberton has grown by 30% since 2016! Join one of the fastest growing communities in BC! |
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| 20 CLOUBURST ROAD, BLACK TUSK VILLAGE - $899,000.00 |
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| Ready to build your dream home? We have made this easier by aligning you up, if you wish, with an excellent & reputable builder who will help you plan, design & build either your full-time residence or perfect getaway where you can live, work & play, creating cherished family memories. Located less than 1.5 hrs away from Vancouver & 15 mins south of Whistler. This property offers both tranquility & convenience. The flat 7535 sq ft lot with water & sewer at lot line is priced well below assessed value and within waking distance to a private lake! Perfect for swimming, canoeing and paddle boarding in the summer and ice skating and x-country skiing in the winter! Just steps to the tennis/ pickleball courts, playground and clubhouse. Mountain biking, snowmobiling and hiking right from your doorstep! Black Tusk is an idyllic & gated community for both summer & winter enthusiasts! |
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| SOLD - 318 TYNDALL STONE LODGE - $2,050,000 |
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| The best unit in Tyndall Stone Lodge! Mountain and Whistler Village views! Spacious 2.5 bed, end-unit on two floors! Bright and sunny with vaulted ceilings, two decks, gas fire, in-suite laundry, UG parking, pool & hot tub downstairs! Zoned for nightly rentals & unlimited owner use. Park your car and walk everywhere Whistler has to offer. Just steps to Olympic Plaza for ice skating in the winter and concerts and outdoor events in the summer! Sold fully furnished. Excellent rental revenues and zoned for unlimited owner use. Very well maintained building in the heart of Whistler Village North. Available for private viewings on January 29 & 30th, then booked solid until February 23rd. |
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| SOLD - 205 - POWDERHORN - $1,910,000 |
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| One of the finest ski in/ski out luxury Powderhorn properties. This property has been completely renovated from the studs with occupancy in December 2023, with the highest quality fixtures and appointments offering a modern rustic retreat, with no expense spared for this beautiful renovation. This 2 bed & den/ 2 bath property offers everything that you could want or expect from your Whistler home. With custom cabinetry, quartz countertops, imported bathroom tile from Italy & Spain, new high-end appliances and furnishings throughout offering luxury and sophisticated comfort as the hallmarks of this home. Meticulous attention to detail shines through the enhanced lighting plan and seemingly limitless storage options. This is the perfect Whistler get-away, home or investment property. |
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| SOLD - 467 ASPENS - $1,310,000 |
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| Experience luxury in this updated top-floor ski-in/ski-out one-bedroom gem nestled in Whistler's coveted Aspens complex. Just a 5min stroll from the village, with year-round amenities with three hot tubs & heated pool. Relax in the spacious bedroom with a king-size bed and flat-screen TV or entertain in the living area with sofa bed, TV, gas fireplace & equipped kitchen. The balcony with BBQ offers serene courtyard and mountain views. Strata includes gas, internet & hydro. Secure underground parking, pet-friendly with restrictions & secure bike storage monitored 24/7 by video & front desk. This is a perfect Whistler retreat not impacted by the recent airbnb changes in BC & allows unlimited owner usage OR nightly rentals offering an excellent opportunity to subsidize your ownership. |
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| SOLD - 306 LAKE PLACID LODGE - $780,000 (1/2 SHARE) |
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| SOLD - 2206 PAN PACIFIC WHISTLER VILLAGE CENTRE - $487,000 |
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| For a limited time only this beautiful one bedroom suite at the Pan Pacific Whistler Village Centre is listed $137,000 below assessed value! Ideally situated in the heart of all things Whistler, Pan Pacific Whistler Village Centre Hotel offers an outdoor patio with a saltwater lap pool, 2 hot tubs, slope-side valet ski storage, exercise area and boutique spa. The one bedroom has a full kitchen, gas fireplace, as well as a sundeck to enjoy the fresh mountain air. The Pan Pacific Village Centre was just awarded Canada’s Best Ski Boutique Hotel in the World Ski Awards, and Condé Nast Traveler recently selected Pan Pacific Whistler Village Centre as one of the Top 10 Best Resorts in Canada in its annual Readers' Choice Awards for 2022. Find out more about this investment opportunity |
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| SOLD - 316D LEGENDS - $295,000 |
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| Perfect Whistler Creekside quartershare opportunity! Situated on the 3rd floor overlooking the quiet Whistler Creek side of the building. This larger 921 sq ft, C4 floorplan features two bedrooms, two bathrooms (one has an ensuite bath) and in-suite washer/dryer. Quartershare ownership provides you with one week out of every four, which can be used personally or rented via the onsite management - Lodging Ovations to earn rental income to offset your expenses. The monthly fee includes taxes, strata fee, Tourism Whistler fee and all utilities. A simple solution for your ski-in-ski-out Whistler lifestyle! |
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MARCH 2024 NEW LISTINGS AND SALES: |
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CLICK the links to view SALES and NEW LISTINGS in MARCH 2024 for each of the following property types: Please note: these links will expire in 30 days. |
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 | If you would like any more information about any listings, chat real estate or just say 'hi', please call, text or email me anytime.
Do you know anyone thinking about buying or selling in the Sea-to-Sky? I'm never too busy for your referrals! |
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 | | I am working on improving my Google ranking. If you have a moment and could leave me a review, I would be very grateful! |
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THANK YOU,
Matthew Callaghan - Personal Real Estate Corporation
Angell Hasman & Associates Realty Ltd.
Email: matt@whistlerrealestatelistings.com
Mobile: 604-966-8678 |
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