Market activity during the first quarter of 2017 stayed consistent with that of the previous quarter but was significantly below that of the same period a year ago.
As was identified in our last report, historically low levels of the number of properties for sale has restricted the amount of activity although there has been no reduction in buyer interest. This has caused values to continue to trend upwards.
Average transaction value in Whistler has increased by over 13% to $1,025,323 since the beginning of the year with single family homes seeing the biggest gain.
At the end of the first quarter the average single family home transaction averaged $2,623,471 due largely to an increased focus on higher priced properties during the winter.
Condominiums also saw a sharp rise in average value to $485,390, while townhomes moved up to $1,062,000.
The luxury market remained active with 12% of all transactions in Whistler being valued above $2,000,000 so far this year.
Market conditions of low supply and high demand will continue to be the factors driving market activity for the foreseeable future. Despite a somewhat unpredictable political environment both internationally and locally, general and local economic conditions suggest continued buyer/investor confidence. Whistler’s strong tourism programs combined with Vail Resorts name recognition will insure continued strong interest in the area.
Now more than ever it is important to work with a full time local advisor who can monitor the constantly changing marketplace and advise you in the nuances of our very specialized marketplace.