Whistler settles into a balanced market with prices remaining steady.
Whistler had a total of 36 sales in August. This was a 44% increase from the previous month. Listings in August took longer to sell on average than in July, with a 79% increase in the number of ‘Days on Market’. The days of multiple offers have passed for the time being, with the market showing a more balanced level of listing inventory and buyer activity. The median sale price in August was $1.5m.
Year over year, we see that Whistler property sales are down 41% and the total dollar volume of sales in down 31%. The median sale price in August 2022 however is still 21% higher than it was in August 2021. Whistler has entered a balanced market phase where sale prices are remaining steady rather than sharply increasing or decreasing.
Phase II hotel condos and shared ownership properties are the only 2 property types that have outpaced dollar volume compared to last year. This is likely a result of these properties being offered at a more affordable price point than unrestricted full ownership properties.
Among all full ownership property types, Phase I tourist accommodation properties have performed best in terms of increase in median sale price which is up 40% year over year. Chalets, townhouses and condos have also all increased in value by more than 20% in the past year. We anticipate seeing less significant price gains in the coming year with the current climate of rising interest rates.
Year over year, we see that Whistler property sales are down 41% and the total dollar volume of sales in down 31%. The median sale price in August 2022 however is still 21% higher than it was in August 2021. Whistler has entered a balanced market phase where sale prices are remaining steady rather than sharply increasing or decreasing.
Phase II hotel condos and shared ownership properties are the only 2 property types that have outpaced dollar volume compared to last year. This is likely a result of these properties being offered at a more affordable price point than unrestricted full ownership properties.
Among all full ownership property types, Phase I tourist accommodation properties have performed best in terms of increase in median sale price which is up 40% year over year. Chalets, townhouses and condos have also all increased in value by more than 20% in the past year. We anticipate seeing less significant price gains in the coming year with the current climate of rising interest rates.
Call us today for a detailed market report or property valuation.
~ Ron & Rachel
Market statistics gathered from WLS (Whistler Listing Service) & REBGV (Real Estate Board of Greater Vancouver). Information deemed reliable but should not be relied upon without verification.
~ Ron & Rachel
Market statistics gathered from WLS (Whistler Listing Service) & REBGV (Real Estate Board of Greater Vancouver). Information deemed reliable but should not be relied upon without verification.