WHISTLER REAL ESTATE NEWS –
JANUARY & FEBRUARY 2020
Good morning from Whistler! I hope the first couple months of 2020 have been good for you and your families.
Yesterday, we celebrated our daughter Ava’s 1st Birthday surrounded by family and friends at our home in Pemberton, B.C.
We have had an awesome winter in the Sea-to-Sky! Room revenues from Phase 1 and Phase 2 properties in 2019 were excellent and bookings are strong going into the summer of 2020. Long term rental vacant is less than 1% with very strong demand for long term rental housing. Median sale price for Phase 1, Phase 2 and detached homes are up while townhomes are down slightly through the first few months of 2020.
Some highlights from around the globe:
- Oil prices are down 30% today, the lowest in a decade. “The drop in mortgage rates and oil prices could boost consumer confidence, which rose less than expected in February just one day after the stock market had one of its worst days…A boost in consumer confidence, in turn, could ease those recession fears.” – Reports CNBC
- Corona Virus ( COVID-19) – Several large events have been cancelled in 2020. SXSW Festival & Indian Wells Tennis Cancelled.
- Strata Insurance Premiums in some B.C. buildings are seeing their insurance premiums increase by as much as 800%. Some buildings aren’t seeing any increases in premiums or deductibles.