Summer in Whistler

Summer 2023 a Wrap!

Mon, 25 Sep 2023 18:02:15 GMT

Welcome to Fall

The firewood is stacked early this year- we're hearing that the cooler temperatures will arrive a little sooner than last year. Don't put off the bike rides or golf games- fall is at our doorstep!

While your soaking up the last moments of summer before it transitions, here's a quick summary of the Whistler and Pemberton real estate activities.

Whistler saw a continuation of the typical, slower summer market with a total of 31* sales in August. Year-to-date, cumulative sales are sitting about 20% below the 5-year average. The median sales price for single-family, condos and land were notably up both year-over-year and month-over-month. Despite fewer sales, inventory only increased for single-family properties, and total inventory (235* units)remains in line with levels seen in June and July, as well as levels seen this time last year. Overall, Whistler market conditions remain balanced.
Pemberton saw a busier month with 8* sales in August, comprised of 3 single family, 2 townhouses, 1condo and 2 lots. The overall median sales price was down slightly from July, likely a continued result of the mortgage rates impacting borrowing power and leading to the search for and purchase of properties with a lower price point than what might have been feasible for buyers this time last year. In August, inventory in Pemberton continued to increase to 81* units, including 21 vacant lots. Overall, the Pemberton market has tilted in favour of buyers, and there are deals out there to be had!

From an economic standpoint, Canada’s economy saw an unexpected contraction in Q2 as a result of slower consumer spending, public sector strikes, forest fires and a reduction in housing investment. Statistics Canada noted an 8.2% fall in new construction and a 4.3% reduction in renovations in Q2,coinciding with the Bank of Canada introducing two consecutive interest rate increases in June and July after a 5-month hiatus from increases in the overnight lending rate. The Bank of Canada announced an interest rate hold on September 6, likely as a result of this economic contraction. However, two more interest rate announcements are scheduled for this year, and with the slight uptick in the most recent inflation stats from July, there may be increases before the year is out. This uncertainty may continue to impact consumer confidence and further housing investment.

Typically, Whistler sees an increase in buyer activity near the end of September; there's great properties in all categories coming on the market- with kids back to school, and generally quieter resort, it makes for a good time to view homes before things pick up.

I welcome opportunity to discuss the market with you directly, or just drop a line if you'd like to connect directly- I'm local, and here to help!

My best,

Kathleen
604 353 3327

February 2023 Recap

Sat, 11 Mar 2023 18:21:13 GMT

28 days and…done!

What a whirlwind month- Hotels and suites were booked at occupancy, we had an exceptionally milder month, and overall, we observed buyers making moves. Family Day & Presidents Day weeks ended with a bounty of snow, and mountain conditions supreme.
Several properties previously listed and reintroduced, found new owners quickly, and the new inventory is being closely watched; February marked a real change in the real estate market for the region.
In Whistler, there were 42* sales in February, a sharp increase from the 19* sales seen in January. This ties October 2022 for the highest number of sales Whistler has seen in a month since April 2022, when the heated pandemic market really slowed down. Inventory remains quite low with 212* units on the market. Notably, days on market for chalets decreased significantly both month-over-month and year over-year.

In Pemberton, there were 5 sales in February – two single family, two townhomes and one condo. Inventory has improved slightly from December and January and currently sits at 54* units, which is about 13% below the 5-year average. Median sales price essentially remained even or increased for single family, townhomes and condos when compared to January, while days on market decreased significantly for both single family and townhome units.
With spring approaching, there are hopes that we will see a more typical spring market with a relative influx of inventory in both Whistler and Pemberton to keep the market momentum. From an economic standpoint, As signaled in its previous interest rate announcement, The Bank of Canada maintained its overnight rate at 4.5 per cent this morning, March 8th. The BOC will be watching the economy moving forward to assess if they need to raise rates again to cool things off, but the economist from the BCREA seems to think that rates will start falling by the end of the year. We are expecting this rate hold may bring more confidence to those looking to make a property purchase; thus being prepared is crucial.

If you are considering property, and will require a mortgage, there are two excellent brokers locally that always enjoy connecting people to. A good mortgage broker provides insights, options, and will really work to find you the best rate. Having this information in hand when looking for properties is powerful and allows us to work in an optimal state on your behalf.

With Spring Break here this weekend, I am looking forward to seeing many familiar faces in resort- I’ll be in the office often, but also trying to get up on the hill with family at least a few times. As always call/text with any questions!

My very best,

Kathleen

Million Dollar Location - Accessible Through Quarter Share Today

Wed, 28 Dec 2022 00:05:00 GMT

Million dollar view? Sure it is, but some of Whistler Mountain's best ski in ski out locations are accessible through quarter ownership- currently listed from $199,000 CAD for a 1 bedroom- that's $147,000 USD! These are not timeshares, and structured superbly for those looking for a premium lifestyle choice that's accessible throughout the year- or park it in the pool, and let it pay the bills. Your Whistler is here and ready for you this winter- call me today!

#2023goals #2023goalsstartnow #whistlerbc #whistler #ski #skitown #vail #vailresorts #holidayseason #tourismbc #bcgetaway #propertyinvestment #lifestyle #investment #creekside

Our Economic Healthcheck

Wed, 23 Nov 2022 19:38:38 GMT

To say we've seen the housing market meet apprehensive buyers in the past 4-5 months is an understatement. For many, if you only bought into the market within the last 10 years, the shock and holding off activity is understandable. Let's take a breath and observe where we have been, and come through. It's also important to embrace the fact that seeing 2% - or less- as a cost of borrowing, is really not realistic in the next 5 years.

Reach out if you'd like to chat further- and I sure know some awesome mortgage brokers for further guidance!

Kathleen

Just a few weeks to go!

Thu, 17 Nov 2022 17:42:22 GMT

Around town this winter

First Opens of August

Fri, 05 Aug 2022 20:41:30 GMT

This weekend I'm thrilled to be hosting Opens at 2 iconic neighborhoods in Whistler, the Benchlands on Blackcomb and Alpine Meadows.

First up, on Saturday at 10:30 I can be found just off Painted Cliff Road, at well sized 2 bed | 2 bath. The location- ski-in-ski out, will not see the new owners require a vehicle during their stay- park downstairs in gated convenience, and enjoy walking to the village from the pathway. Comfort and casual luxury exudes from this well appointed Phase 1 townhome. Large bedrooms, and freshly installed flooring are just some of the attributes of this priced to move investment, home away from home, or home. #30 Foxglove - see you Saturday- priced at $1.749 Listed by Dean Linnell, Whistler Real Estate Ltd.

Sunday morning in Alpine Meadows- perfect start to the day! This property is super unique, and has some really valuable attributes that a local buyer, or weekend recreationalist family will find compelling.

8167 Alpine Way is the perfect potential alternative to a townhouse or condo, and has an extremely functional layout. Flooded in natural light, the views of the surrounding mountains set the scene for this sophisticated and inviting residence.

Standouts:
-11,252 foot relatively flat, grassy lot
-2 bed / 1.5 bed home up, with a 1-bed suite below which is generating $2000/mth rent (with incredible renters!)
-Build up to almost 4000/ft, so still another 2200~ can be added to the existing home, or as an auxiliary home or infill-housing

I’ll be onsite Sunday 10-12 to show this gorgeous residence- at $2.595 this is excellent value in Alpine!

Listing courtesy of Dave Brown with the Whistler Real Estate Company

See you at the Opens, or reach out to learn more about these properties, or to discuss what your Whistler dream looks like!

Kathleen

July in Resort

Fri, 05 Aug 2022 20:14:01 GMT

Whistler's thriving in summer!