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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
...


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