April 2015 Market Report

Strong sales activity continued to characterize the real estate market in Whistler during the first quarter of 2015.  Favorable exchange rates, low interest rate levels, and strong buyer demand overcame a less than stellar winter season and, as a result, the total value of sales transactions in the first few months of 2015 exceeded both of the previous quarters and the same quarter one year ago.

The total dollar value of transactions in the first 3 months of 2015 was almost $140,000,000 with an average transaction value of $827,000. This represents an average increase of 14% in the average transaction value since the end of 2014.

The single-family home segment of the market had a particularly strong quarter with a noticeable increase in buyer demand for properties listed at over $1,000,000. As a result, we witnessed an increase of 4% (to $1,679,000) in the average transaction value for a single-family home since the beginning of the year.

The majority of the market activity continues to occur in the condominium and townhome segments where we see almost 60% of all reported transactions. Strong interest in these categories has resulted in a significant reduction in available opportunities and this has led to an increase in transaction values. Multiple offers are common in these categories, particularly on properties valued under $1,000,000. Overall, the average value for a condominium is $427,000, a 9% increase since the end of 2014. Sitting at $745,000, town homes saw an increase of almost 7% in average value over the course of the first quarter of 2015.

As the number of opportunities to purchase existing, built property has decreased, we have seen a strong renewal of interest in building lots. This market segment is currently experiencing its highest level of activity since mid-2013.

Real estate in Whistler is much like waterfront property – they are not making any more of it and buyer interest continues to grow. If you are considering buying or selling, it is important for you have the most up-to-date information and insight into our very dynamic marketplace.

Published: April 23, 2015