Whistler is on Fire? or Whistler is Having a Fire Sale!
The question depends on who you’re asking, a realtor, investor, or just the guy on the street. How about picking a specific product like condo, phase one or phase two? A hotel suite, residential, detached house or townhouse on the out skirts of the village….are you referring to market housing or Whistler Housing Authority properties… Whistler is extremely diverse and with the uniqueness of our market we see fluctuations between product and popularity.
You might refer to this as the flavor of the 1/4 (month)… I would have to say condos are hot again in Whistler, you might recall last quarter it was townhomes. So while one product sits on the market waiting for the buyers to return, the value diminishes and soon the pricing is adjusted, and then the buyer comes back. This is what has happened recently with hotel suites, better known as phase II properties. The Pan Pacific, Westin and the Four Seasons have had a complete turn around… If you were to ask the investors who purchased these properties over the last three months if they “Stole” the suite from the seller they would say no, they purchased the property at today’s market value.
There has been plenty of adjustment in real estate all across North America, in some cities such as Vancouver the real estate market has been highly active, while in other cities prices have taken a huge drop .
Whistler felt the economic downturn and for almost two years the market slowed… Many sellers had to adjust their pricing due to the over abundance of properties for sale, the market never died it just wasn’t on the discretionary spending minds of those holding tight to their portfolio’s.
The buyers are back and they’re excited about the great value one can realize in an investment in Whistler… Yes the eyes of the world are here but it is our own BC residents that are the main drivers to real estate sales in Whistler. We have a trickle of other investors and a few that eventually want to call Canada home… but for the main part our market is being stimulated by purchasers from the lower mainland.
Affordability is key, that also includes the cost of travel to get anywhere, amenities, safety, air quality… no ferries to contend with, incredible Sea to Sky Hwy… my list could go on..and on… but if you’ve been to Whistler you know the secret… apparently someone is kissing and telling…we know this because the buyers are back.
First Quarter Numbers (sales) – Total 120
Chalet – 19
Condo – 47
Townhouse – 31
Share Owner – 17
Duplex – 2
Vacant Land – 2
January sales – 34
February sales – 43
March sales – 43
In any market the information is available to you on-line, this is an excellent place to start your search… If you have a smart phone I’d recommend you download the REALTOR.ca app I’ve been using this app recently and have found it very valuable. You might even want to have a ScanLife app on your
i-Phone as I have seen a few QR Codes on real estate signs and in many real estate offices. Remember not all realtors in Whistler use the MLS which means you might be missing a really good property for sale if you choose to only use MLS. Whistler also has their own real estate system and website know as the Whistler Listing System….
When you feel you’re ready to get serious about owning a property in Whistler find yourself a knowledgable realtor that you feel comfortable with and enjoy the journey.