MATT WARNER

Cell 604-928-9107

Office 604-984-9711

Email: matt@mattwarner.ca

I have listed a new property at 475 GORDON PL in West Vancouver.
Situated on a beautiful cul-de-sac is probably the most prime lot in all of Cedardale. This 21,000 plus square foot lot is lovingly manicured and gently slopes down to and across Brothers Creek. This older 6 bedroom home is very sturdy brick construction. Lots of open spaces to enjoy, great for entertaining, with massive lawn areas great for entertaining, barbeques and yard games. Original family owned since 1962. Very rare do homes come available in this section of Cedardale, West Vancouver's ultimate central and unbeatable family sub-division. Ten minute walk to Park Royal, easy access to Capilano Pacific trail, Lions Gate Bridge and Hwy 99.
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I have listed a new property at 325 4315 NORTHLANDS BLVD in Whistler.
Best value priced studio in this Phase II unit in The Cascade Lodge. Steps to Whistler Village, restaurants, shops and gondola. Property features underground parking, front desk, exercise room, pool and hot tub. Enjoy 56 days of annual usage and take advantage of the pooled nightly rental income. This property is priced to sell and won't last long.
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I have sold a property at 302c 2020 LONDON LANE in Whistler.
Evolution - Whistler's most luxurious quarter-share development, conveniently located in Whistler Creek mere steps to the Whistler gondola. You will totally enjoy this opulent living with 2 large bedrooms w/ en suite bathrooms. Amenities cannot be beat, outdoor pool w/ 2 hot tubs in a very private setting. As well top notch fitness facility. Monthly fee covers all costs including taxes. Enjoy 1 week of usage per month for the whole year. Pamper yourself.
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Today I will do what others won't, so tomorrow I can accomplish what others can't.

Jerry Rice
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When the world says, 'Give up', Hope whispers, ‘Try it one more time.
 
Unknown
 
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https://news.gov.bc.ca/releases/2017FIN0002-000039

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Whistler Real Estate Update

 

Current USD exchange rate: 0.75604

 

Happy New Year!

December was a very busy month in Whistler - in addition to the usual holiday excitement, we saw an incredible amount of snow that kept skiers and snowboarders, both local and visiting, extremely happy. The holiday fanfare has somewhat died down, but the snow shows no signs of stopping any time soon.

In terms of real estate sales, the year ended on a relatively quiet note. December saw fewer sales than recorded in previous months, although this is a trend that we often see this time of year. Buyers and sellers would rather focus on spending time with their families, celebrating the holidays, and skiing - who can blame them?

Before we officially kick off the new year, I want to recap the major real estate happenings of 2016. Keep reading for the trends from the past year, the items that made the headlines, and the records that were set in 2016.


Trends of 2016

The biggest trend of 2016 was the relentlessly decreasing level of inventory. Every time we thought it couldn't dip any lower, it did. The number of active listings available for sale in 2016 was by far the lowest it has been in the past 10 years. The average total level of inventory in 2016 was 259 - down from the previous record low of 463 in 2015.

The past year also saw the near extinction of the million-dollar home. Only 17 Whistler chalets sold below the $1M point in 2016, 7 of which are technically not within the Whistler municipal boundaries. To contrast, 36 chalets sold under $1M in 2015, only 2 of which were outside the boundaries. The median sales price for a chalet in 2016 was $1.7M, the highest it's been in the past 10 years.

But it was actually town homes that saw the greatest value increase in 2016. The median sales price of town homes increased 30% over 2015 - compared to 22% for chalets and 16% for condos. Town homes remain a popular bet for buyers, thanks to their versatility in terms of use (many allow short-term nightly rentals) and relative affordability. Unofficially, I would declare 2016 the year of the town home.


Headlines of the Year

Several big announcements were made over the course of the past year. As voted by locals in the 
Pique Newsmagazine's annual year-end Best of Whistler story, here are the headlines that turned heads:
  • Vail buys Whistler Blackcomb - aside from the announcement of some key staff layoffs, we're still waiting to see what the effects of this takeover will be. We're also waiting until next year, where we can take part in Vail's Epic Pass program!
  • The resort is as busy as ever - as those who have tried to drive to Vancouver on a Sunday evening, or who have tried to find parking on a Saturday, can attest to!
  • Whistler Blackcomb announces the Renaissance project - this multi-year, multi-faceted development is sure to continue making headlines as it is built out over the next several years.
Notable Facts and Figures of 2016

A few facts to note from the past year:
  • The most expensive property sale was a $22.25M chalet in the exclusive Stonebridge area on the far side of Alta Lake. The next highest sale came in at $7.5M.
  • The least expensive sale was a phase 2 studio in Whistler Peak Lodge, which went for $45K.
  • Properties sold in an average of just 82 days in the past year. That's twice as fast as the average in 2012.
  • The total value of condos, chalets, and town homes that sold in Whistler in 2016 was $801,543,927 - a 10-year high!

And Now, for 2017

Below, you'll find active listings and recent sales from the month of December. See anything that piques your interest? Let's talk!

Listings
Sales
...


Know someone who may be interested in my newsletter? Please feel free to forward it to them. If they may want to be added to my distribution list, please have them send me an email to matt@mattwarner.ca.
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I do not know anyone who has got to the top without hard work. That is the recipe. It will not always get you to the top, but should get you pretty near.

Margret Thatcher
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To Succeed, jump as quickly at opportunities as you do to conclusions.
 
Benjamin Franklin
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Whatever the mind of man can conceive and believe, it can achieve.
 
Napoleon Hill
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It's hard to beat a person who never gives up.
 
Babe Ruth
 
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I have sold a property at 413b 2020 LONDON LANE in Whistler.
Evolution is Whistler's newest and most luxurious quarter-share development, conveniently located in Whistler Creek. A 2 minute walk to the Whistler gondola. You will love the 2 LARGE bedrooms both with their own en suite bathrooms. This is 5 star living at its best. Enjoy the beautiful outdoor pool with 2 hot tubs in a very private setting. Also features excellent fitness facility with common BBQ area. Flexible usage to use personally or rent out any of 12 weeks per year. This suite also enjoys vaulted ceilings, beautifully furnished and equipped.
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No one ever drowned in sweat.
 
United States Marine Corps
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Life is the sum of all your choices.
 
Albert Camus
 
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Challenges are what make life interesting and overcoming them is what makes life meaningful.
 
Joshua J. Marine
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Wow - to say Whistler's ski season is off to an epic start would be the understatement of the year! Opening Day took place on November 23, and it has to have been the snowiest Opening Day on record. The powder was knee deep - I hope all you skiers and snowboarders have been training hard in the off season, otherwise you might want to book yourself a massage after your first day on the slopes!

The Whistler real estate market has remained relatively steady over the past month. Inventory is still as low as ever (with only 37 active town home listings currently listed for sale - that's about a month and a half's worth of inventory!)

This month, I'm taking a closer look at chalets. Keep reading to find out what your dollar can get you in this market segment.


The Slow(er) Chalet Market

Last month, 26 town homes and 28 condos sold in Whistler - but only 7 Whistler chalets (or single family properties) sold.

That's not because inventory was lower for chalets than it was for town homes or condos. In fact, the number of chalets listed for sale on the market is similar to the number of condos for sale, and higher than the number of town homes listed for sale. So what gives?

The trend of lower chalet sales (compared to condos and town homes) is something I've observed for the past 18 to 24 months. I speculate that it has something to do with price: while market values have been rising across all property types, the prices of chalets has been increasing quite substantially on an absolute basis.

Here's what I mean: let's say that property values increased 5% in 6 months. A $400,000 condo is now worth $420,000 (a $20,000 increase); a $750,000 town home is now worth $787,500 (a $37,500 increase); and a $1,000,000 chalet is now worth $1,050,000 (a $50,000 increase). Although each property's value has increased by the same percentage, the dollar increase is greatest for the chalet.

The increase in chalet prices overall may exceed the budget for many buyers. For awhile, chalets priced around the $1 million point were very popular, but it is increasingly rare to see a Whistler chalet at this price point. Buyers still do exist for the more expensive Whistler chalets, but the pool of potential purchasers is more limited. Meanwhile, lower priced condos and town homes are considered attractive alternatives - especially because these properties can often be rented on a nightly basis, whereas most Whistler chalets cannot be rented nightly due to zoning regulations. (Note: there are a few exceptions to this.)


Chalets Today

The most affordable chalets you'll find today - priced just above the $1 million mark - are located in neighbourhoods like Black Tusk and Pinecrest. These areas are actually located south of Whistler - about a 15 minute drive south of Function Junction, Whistler's southernmost neighbourhood. Chalets here have a quiet "cabin in the woods" feeling.

In the $1.35-$2 million range, you'll find older cabins with a more rustic feel. Some are in need of renovations, while others are perfectly functional and are a great bet for people who like the traditional ski chalet charm. These properties are often located in neighbourhoods like Alpine Meadows and Emerald Estates, which are north of town and are well loved by the local community. The chalets in this price point have good investment potential.

Above the $2.5 million price point is where you'll find the more modern luxury chalets. I mentioned in last month's newsletter that properties in this price range represent some of the best value in Whistler. That's because the buyer pool is relatively small. These properties have some pretty impressive bells and whistles and are perfectly suited for those who want a turnkey property to enjoy for the ski season and beyond.

Interested in a chalet or another property type? 
Contact me for details.

Where We're at Today

To help you navigate through the latest sales and listings, I've divided current listings and November sales up by property type:

Listings

Sales

...



Know someone who may be interested in my newsletter? Please feel free to forward it to them. If they may want to be added to my distribution list, please have them send me an email tomatt@mattwarner.ca.

Have a wonderful holiday season and wishing you the best for 2017!

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https://youtu.be/Z4iul3w0d3E

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The Million Dollar Townhome?

In last month's newsletter, I observed that there were no chalet listings under the $1M price point (a fact that holds true this month, too).

This month, I noticed that more than a third of the townhomes that sold in October exceeded the $1M mark. 


There's no doubt that townhomes are the most hotly demanded Whistler property type right now, and people are willing to pay to get their hands on one. Here are a few figures that stand out to me:
  • 29 townhomes sold in October (versus 11 in September)
  • There are 35 townhomes currently on the market (whereas there are 55 chalets and 66 condos)
  • 31% of townhomes sold last month sold OVER listing price, with another 34% selling at listing price. Worth noting: 0% of chalets sold over list, and 23% of condos sold over list.
So why townhomes?

First of all, convenience. Elements like outdoor maintenance (think roof repairs, snow shoveling, etc.) are all taken care of by the strata corporation, making them an easier ownership option for second homeowners or investors.

Of course, you have to pay a monthly strata fee (maintenance fee) for this benefit, but anecdotally, strata fees for townhomes in Whistler are often lower than they are for similarly sized condominiums.

Third, the townhomes that are selling are centrally located in the Village, the Benchlands (up along Blackcomb Mountain), and Creekside.

Finally, many of Whistler's finest townhomes are comparable to luxury chalets. For instance, the townhomes at Fitzsimmons Walk have 4 bedrooms and are nearly 2,500 SF in size. The Red Sky condos in Rainbow are 3.5 bed/3.5 bath over nearly 2,000 SF and have views to die for.

Interested in your own Whistler townhome? 
Contact me and we'll establish an aggressive buying strategy.


Value in Luxury Chalets

This might seem like an oxymoron, but if you're looking for value, you're most likely to find it in chalets priced in the $3M+ price point.

Overall, chalets are the least demanded property type right now (October saw 9 sales, and there are 55 chalets currently listed for sale - more than half of which exceed $3M).

People are keeping their eyes on chalets priced in the low $1M range, but the market for chalets in the $3M+ range is relatively small. Buyers are competing against fewer people for these properties, and are often able to negotiate a better deal than for other property types.

I mentioned earlier than none of the chalets sold in the past month went for above asking price. In fact, only one sold at the listing price, and the other 8 sold below anywhere between $40K to $380K below list price.

They're not your traditional bargain-priced deals, but luxury chalets are good value nonetheless - particularly when you consider what similar properties would sell for at other ski resorts in North America. Interested in a high end chalet? 
Contact me for details.



Where We're at Today

To help you navigate through the latest sales and listings, I've divided current listings and October sales up by property type:

Listings
Sales
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I have listed a new property at 413b 2020 LONDON LANE in Whistler.
Evolution is Whistler's newest and most luxurious quarter-share development, conveniently located in Whistler Creek. A 2 minute walk to the Whistler gondola. You will love the 2 LARGE bedrooms both with their own en suite bathrooms. This is 5 star living at its best. Enjoy the beautiful outdoor pool w/ 2 hot tubs in a very private setting. Also features excellent fitness facility with common BBQ area. Flexible usage to use personally or rent out any of 12 weeks per year. This suite also enjoys vaulted ceilings, beautifully furnished and equipped.
Read Full Story
I have listed a new property at 302c 2020 LONDON LANE in Whistler.
Evolution - Whistler's most luxurious quarter-share development, conveniently located in Whistler Creek mere steps to the Whistler gondola. You will totally enjoy this opulent living with 2 large bedrooms w/ en suite bathrooms. Amenities cannot be beat, outdoor pool w/ 2 hot tubs in a very private setting. As well top notch fitness facility. Monthly fee covers all costs including taxes. Enjoy 1 week of usage per month for the whole year. Pamper yourself.
Read Full Story