Continuing a trend we have seen in the past, September was once again the best month for real estate sales during the year. In fact, the number of firm transactions reported hit its highest monthly level since mid 2007.
The Whistler real estate market is traditionally most active in the fall, and this year it resulted in 95 reported sales valued at almost $65 million with an average value of $693,484 for September.
As a result the market has seen an 8% increase in activity for this period since last year, and a 20% increase in the total value of those transactions.
The pace of business has continued into October and should it continue to the end of the year (with no reason to suggest otherwise) when the market is expected to report one of the strongest years in the last decade.
At the same time the number of properties being offered for sale is at its lowest level since 2010. This has resulted in pressure on prices to move upward. Buyers are advised that these market conditions can lead to highly competitive situations for new listings and it will not be surprising to see properties selling at above their stated offering prices.
All sectors of the market are experiencing strong buyer interest with demand for good quality family homes and townhouses being especially noticeable.
And Whistler is not unique, real estate activity throughout the Sea to Sky has been very active, to the point that the most up to date information is often old news by the time it is generally reported. Having a clear idea of exactly what type of property will work for you and being in regular contact with your advisor is strongly recommended.