Whistler Luxury House sales in 2018 compared to 2017 either with or without ski-in and ski-out access dropped by 34%. This drop was the same in volume sales dollars, and in the number of transactions. From the chart below, 2017 definitely was the peak of the market. In addition, 2017 was a sellers market, with 2018 being touted as a balanced market.
|# of Real Buyers including (# Ski-in and/or Ski-out Real Buyers)||Total Sales $ volume|
If you you look at the numbers in the bracket, they show the number of ski-in ski-out luxury houses which were sold in each year. It doesn’t surprise me that there were less sold in 2018. The inventory was so limited in ski-in ski-out homes that it would really take a lot to part with your Whistler home. I approached owners to ask if they were thinking of selling. The typical response was “…where would I go?” If you own a home with ski-in ski-out access you own the best property in Whistler. There is always going to be someone who wants a lovely home, with easy access to and from the slopes.
The Vail Effect
I was contacted by more American buyers this year, than in the past ten years. Yes, there has always been one or two US buyers each year, but this year there were many more. I put this down the marketing power of Vail Resorts, featuring Whistler Blackcomb as the jewel in their crown. The best part of working with American buyers is that they are knowledgeable about the ski product. In addition, they always appreciate the value of ski-in ski-out property…I like them a lot!
Views on 2019
The luxury home market is one that is difficult to predict as the product over $7M is not as liquid as a townhouse priced at $1.5M. This is obvious as there are a lot more buyers in the other end of the market. One thing I do know, is that the sellers still believe in the value of their Whistler property, regardless of the market conditions. Sellers take the approach that they have a property of value, and if you want it, you will have to pay them what they want for it. You need an experienced, Whistler realtor, like me should you decide to purchase at this level. It really takes a lot to negotiate with this type of seller.
Click on the following link for the Whistler Market Update.
I am here to help you before, during and after the transaction. The recent rules effective June 15, 2018 have banned dual agency, so it is prudent to contact a Buyer’s Agent, like me for more information. Please contact me if you are not working with a realtor.
It’s a Good Life in Whistler!
Marion Anderson, *PREC