Weekly, I aim to compare 2020 Whistler real estate market to 2019. Now, 2019 was a big adjustment from 2018, which was a very strong seller’s market which ended abruptly in December 2018. Since January 2019, the overall Whistler market has been fluctuating in and out of a Buyer’s Market. Since March 13th, it is safe to say, that with the drastic reduction in sales, and the number of new listings, Whistler real estate is now in a Buyer’s Market. Please note, the number of listings has also declined, but it has not declined nearly as much as the sales…so far.
Covid-19 Statistics Signal A Buyer’s Market in Whistler Real Estate
When you look at the new listings graph below, you will see that at the end of April 2020 the number of new listings dropped dramatically in comparison to previous weeks. It is too early to tell if this is a one-off or the start of a trend.
When Will Whistler Real Estate Prices Drop in Response to the Global Pandemic?
That is the million dollar question, when will Whistler real estate prices drop during this Covid-19 pandemic? Whistler sellers and Whistler listing agents seem to take a long time to respond to any market changes. From my experience, even a global pandemic won’t hurry sellers along with a price drop. There are some realtors who will initiate the response to the market conditions, and I already know whom to watch. However, special pricing will appear in each market dependent on how motivated the seller is, and how responsive their listing agent is. It’s as much fun watching the market as watching my listing colleagues respond and that’s the benefit of no dual agency.
The Market Update page on this site has a real time link to the Real Estate Board of Greater Vancouver statistics. Bookmark the Market Update page for real time statistics. Please call me with any questions on your Whistler Real Estate needs.
It’s a Good Life in Whistler!
Marion Anderson, PREC*
*Personal Real Estate Corporation
Sutton Group – West Coast Realty
203-1080 Millar Creek Road, Whistler, BC, V8E 0S7 CANADA