The first three months of 2018 saw real estate sales in Whistler remain steady. Buyer interest in Whistler remains strong and, as a result, sales activity improved by 23% compared to the final quarter of 2017; however it was down by 10% when compared to the first quarter of 2017. Nevertheless, the first quarter of 2018 also witnessed price increases across all segments of the marketplace. The average transaction value in Whistler increased to $1,309,300 and median transaction value hit $995,000, a 13% and 15.6% increase since the end of 2017 respectively. Overall, sales values for built properties in Whistler are now consistently exceeding $1,000 per square foot.
In the single-family home market segment, buyers continued to focus on higher priced properties due mostly to a lack of options at the lower end. As a result, the current average transaction value as of the end of the first quarter is now $3,253,000.
Accounting for almost 70% of the market, condominium and townhouse sales remained strong as buyers continued to focus on larger, well-located, unrestricted use properties, especially in towhomes. The average sales value for a townhouse now sits at $1,581,000 (a 37% increase) while condominiums are at $662,583 (an 11% increase).
The number of properties available for sale remains at all-time lows but buyer interest remains strong. Moving forward, sellers can expect immediate activity on well-priced listings. That said, several recent announcements by the BC government in regards to real estate investment and new financial requirements, have increase the levels of uncertainty for some buyers. This increasing uncertainty, paired with higher prices and low inventory means that we do expect sales activity to moderate over the coming months.
This information is deemed to be accurate and is taken from the Whistler Listings System, April 2018.