I was recently asked “When is the best time to buy ski-in ski-out real estate in Whistler?” Back in 2005, when I started selling real estate, there was a best time. However, so much has changed since then. I prefer to educate buyers as we go along on our journey together, so I start by setting a picture. The image was of a seller who still had their property listed for sale at the end of the winter season. In addition, this response applies to all Whistler real estate for sale.
Over the past 14 years, the summer and shoulder season market have been influenced by:
- Highway 99 improvements
- Increase in summer visitors to Whistler
- Mountain biking market – huge summer market.
- Ease of using Airbnb
- Lack of housing for Whistler locals including transient workers
- No more slopeside development
It used to be that by March if a property had not sold, then the seller might be more willing to negotiate their price as they would have to wait until the target market started looking again, probably in September. That is no longer the case. The summer visitors are twice the number of the winter guests. In addition, the ease of using Airbnb from afar, and the high demand for monthly rental properties takes the pressure off the seller. These factors are all in addition to the lack of future development in Whistler.
Is there a best time to buy in Whistler?
Once you have watched the video, I am sure you will agree with the following statement. The best time to buy in Whistler is when you find a property that fits your budget, fits your needs and fits a few of your wants.
Whether it is a luxury detached house, or a townhouse or condominium, the market is the same as it relates to the above seven points. I would say that the higher the price point, the more the seller is willing to wait for a real buyer to come along. For those higher priced properties, they sellers are undoubtedly aware of the supply and demand aspect and who is to say they are not right?
My goal as a buyer’s agent is to ensure that by the time you find the property of choice, you understand why the seller has listed it for a specific price. By then you will be well educated and you will be very comfortable with your offer. Then we move on to my specialty, the negotiation.
I am here to help you before, during and after the transaction. The 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.
Click the following link for more information on the Market Update for Whistler real estate. Statistics courtesy of Real Estate Board of Greater Vancouver.
It’s a Good Life in Whistler!
Marion Anderson PREC*