Greetings from the very beautiful and abundantly snowy Whistler, Canada!
2017 was a very exiting time to be in the Sea-to-Sky corridor. Here are some of this past years highlights:
- A 21% increase to Whistler’s year-round population over the last 6 years.
- Unprecedented gains in the Real Estate market.
- Vail Resorts Purchase of Whistler Blackcomb for a staggering $1.4 Billion dollars!
- Whistler Blackcomb’s Renaissance Plan to invest $345 Million into the resort over three phases starting in 2018.
- Vails Plan to spend $60M on new chair lifts on Whistler and Blackcomb Mountains.
- Record high occupancy rates for the past winter & summer.
Whistler’s housing market was a major topic of discussion in 2017. Here’s why:
- Rental rates have never been higher.
- Short Term Occupancy rates for the whole resort hover around 65% (which is unique for a seasonal resort destination)
- There is a major construction boom in Whistler with many of the original ski cabins and A-frames being replaced with modern, single family homes.
- High demand and low supply for commercial rental space.
- Living and working in Whistler is not getting easier.
The Real Estate market in Whistler is smoking hot. There remains an abundance of qualified buyers and record low listing inventory for all types of properties in Whistler. The result is a one sided ‘sellers market’.
Below are the market trends for Single Family Chalets, Duplex’s, Townhomes, Condos, Vacant Land and Phase 2 properties in Whistler, B.C. –
Single Family Detached Homes (Chalets) :
Sales volume has remained very consistent over the last 3 years while median sales price has climbed by 59%!
Chalet Sales Volume:
We have seen Sales Volume explode from the low point of the market in 2010 of $125 million to $425 million in 2017!
Duplex and Triplex Properties:
The graph below illustrates Median Sale Price and Sales Volume of Duplex’s and Triplex’s in Whistler in the last 5 years:
Listing Inventory – 2 Years :
There are virtually no Duplex or Triplex properties currently on the market in Whistler, B.C. from a high of 10 in April 2016.
Duplex & Triplex Sales Volume:
Townhomes in Whistler:
The graph below illustrates Median Sale Price and Sales Volume of Townhomes in Whistler in the last 5 years:
We have seen the median sale price rise by 17% in a year and 69% in the last 5 years! Sales volume is down slightly due to the lack of inventory.
Listing Inventory – 2 Years :
Townhomes in Whistler remain one of the most sought after purchases in Whistler. If you have one and are considering selling, there has never been a better time. Dollar amount Sales volume is up 289% in the last 10 years!
Condominiums in Whistler:
The graph below illustrates Median Sale Price and Sales Volume of Condo’s in Whistler in the last 5 years:
We have seen the median sale price in Whistler rise by 24% in 2017 vs 2016 and 92% in the last 5 years! Sales volume is down slightly due to the lack of inventory.
Listing inventory has plummeted in the last 2 years by 189%! There remains a very strong demand for condominiums in Whistler.
We have seen Sales Volume explode from the low point of the market in 2010 of $45 million to $175 million in 2017! This represents a 289% increase!
The graph below illustrates Median Sale Price and Sales Volume of Vacant Land in Whistler in the last 5 years:
Sales volume has climbed considerably from 2014-2016. We saw a small decrease in sales volume, directly attributed to low listing inventory.
Vacant Land Active Listing Inventory:
Vacant Land Sales Volume:
Phase 2 Properties in Whistler:
The increase in median sale price of Phase 2 properties is directly related to raising rental and occupancy rates. As rental and occupancy rates rise, so does the owners Return on Investment (ROI). This translates to a higher sales price for Phase 2 properties.
Phase 2 Active Listing Inventory:
Phase 2 Sales Volume:
Shared Ownership Properties in Whistler:
The graph below illustrates Median Sale Price and Sales Volume of Shared Ownership Proeprties in Whistler in the last 5 years:
Shared Ownership Listing Inventory:
Shared Ownership Sales Volume:
If you are considering selling your home in Whistler; there has never been a better time! If you are wondering how much your property is worth in today’s market, please contact me or complete this form for a no obligation Comparable Market Analysis for your property.
I would like to thank my clients, family and friends for helping me achieve Medallion Club® status for The Real Estate Board of Greater Vancouver for the 5th year in a row!
All the best to you and yours in 2018!
Sutton West Coast Realty – Whistler, Canada