Whistler Luxury House Sales in 2018 Compared to 2017

View From the Balcony 20-2300 Nordic Drive

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
YTD 201831(4)$156,959,500
201747 (10)$238,719,000
201627 (12)$‎125,334,000
20159 (3)$‎47,350,000
201412 (3)$‎49,800,000
2018
January7 (1)$29,880,000
February7 (2)$38,000,000
March1 (0)$4,180,000
April1 (1)$7,575,000
May0 (0)$0
June3 (0)$13,480,000
July2 (0)$8,925,000
August4 (0)$22,350,000
September3 (0)$15,573,000
October2 (0)$10,175,000
November1 (0)$3,431,500
December1 (0)$3,390,000

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

marion@whistlerskiinskiout.com
(604) 938-3885
Marion Anderson, *PREC

November 2018 Market Analysis

A look at the real estate sales in Whistler in November 2018

a graph of the Whistler market which is showing it is heading to a buyers market

It seems as though every month I write about how the market is changing from a Seller’s market to a Buyer’s market. In addition, I write that it is unfortunate that no-one has told neither the listing agents nor the sellers about this market change.

The only difference for November over October is that we are seeing that properties of all descriptions are staying on the market for longer now. That is, longer that we would have seen back in late summer.

A buyer of a ski-in ski-out property may have to wait for the right property fit. The decision to buy what they need, not what they want can be a huge obstacle for some. Remember, this is a very small market for property. 

November 2018 Sales comparable to 2017

  • House sales 9 in 2018 and 10 in 2017
  • Townhouse sales: 14 in 2018 and 11 in 2017
  • Condo sales: 24 in 2018 and 22 in 2017

For a further breakdown of the Whistler real estate market in November 2018 compared to 2017, please read the Whistler Market Update page.

To view the ski-in ski-out listings currently available for sale, check out the Active Ski-in Ski-out Listings page.

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

marion@whistlerskiinskiout.com
(604) 938-3885
Marion Anderson, *PREC

October 2018 Market Analysis

The image below says it all for the Whistler real estate sales October 2018. These stats are courtesy of the Real Estate Board of Greater Vancouver (REBGV). All Whistler real estate agents and their brokerages are members of the REBGV.

My take on the upturn is simply because of the time of year. This is when people want to secure a ski property for the winter. It is therefore a time of year when there are multiple buyers looking for the same type of property. That typically drives up sale prices based on the supply and demand theory.

Visit the Whistler Market Update Page for a breakdown on the statistics for detached houses, townhouses and condos.

I am here to help you before, during and after the transaction. Please contact me if you are not working with a realtor. 

It’s a Good Life in Whistler!

Marion 

marion@whistlerskiinskiout.com
(604) 938-3885
Marion Anderson, *PREC

One Bedroom Condo

223-4800 Spearhead Drive signature

Stunning one bedroom condo for sale in the Aspens at 223-4800 Spearhead Drive. The vendors said that the best decision they ever made was not buying a condo overlooking the pool. The words Marco and Polo were heard year round in that section of the Aspens. Fortunately, 223 overlooks the quiet side of the building and looks into the forest for a more calming effect.

The photographs speak for the renovation, and it is possibly the best the Aspens has seen. AirBnB also thinks so too, as this condo rents out for top dollar as it is a 5* property. No rentals for 2018/2019 as the property is for sale.

Listed at $989,000 it is the highest listing price for a one bedroom in the Aspens. The vendors paid the 5% GST on this property as it is their primary residence. In addition, when you consider the renovation quality compared to previous sales, and the supply and demand aspect, the listing price of $989,000 makes sense.

Click on the following link to view the page of support documents for this lovely condo at 223 Aspens.

Marion 

marion@whistlerskiinskiout.com
(604) 938-3885
Marion Anderson, *PREC

*Personal Real Estate Corporation
Sutton Group – West Coast Realty
203-1080 Millar Creek Road, Whistler, BC V8E 0S7

Whistler Development

bedroom image

Future Whistler Development for Ski-in Ski-out Property

I am often asked if there are any plans for more Whistler development for ski-in ski-out property. The short answer is no. The long answer refers to the Official Community Plan adopted in 1976 which refers to bed units. Let’s refer to the Resort Municipality of Whistler (RMOW) for their interpretation.

RMOW and Future Growth

Data source, Resort Municipality of Whistler (RMOW).

A bed unit is a measure of development intended to reflect servicing and facility requirements for one person. The bed unit measurement was introduced in Whistler’s first OCP adopted in 1976. It was a means to manage the future growth of Whistler. A consistent measurement with infrastructure capacity, highway capacity and ski lift capacity. Bed units have become a key reference point for the resort community’s understanding of, and expectations for Whistler’s ultimate size and capacity. 

The distinction between developed and undeveloped is based on occupancy as of year-end, December 31. Determination of ‘Developed’ is made by the issuance of a ‘Completed’ building permit, which indicates occupancy. Undeveloped units are those that have been committed to by Council (either through rezoning or subdivision applications) but have yet to be constructed or completed.

All Bed Units Have Been Assigned

The following is my interpretation. When you look at all the land available for development in Whistler, the RMOW has assigned bed units to each piece of vacant land. There are no more bed units to be assigned. They are all used up. 

Recently, due to the shortage of housing for the locals who live and work in Whistler, the RMOW created more bed units for local housing development. So the big question has always been, how solid is the bed unit plan? Unfortunately, I cannot help you with the answer to that one.

However, if you want to be a ski-in ski-out property in Whistler, there are no more areas in Whistler which are zoned for future development. Sad, but true.

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