The December 2019 Whistler Real Estate News is in a different report from the November report. This month I have focused on the Whistler real estate market as a whole. Last month, I broker the report down into the three segments. Those segments were, detached houses, townhomes and condominiums.
How Do We Know What Type of Real Estate Market We Are In?
Real estate prices are determined by supply and demand. By comparing the number of listings for sale (supply) against the # of sales (the demand) we arrive at the sales to active listings ratio, This ratio determines whether we are in a sellers market, a balanced market or a buyers market. By looking at the following images you should start to understand. It is all explained in the video above.
In November 2019 there were 51 sales 307 listings, So the Sales to Active Listings ratio was 17%. Right now we are in a balanced market.
Sales to Active Listing Ratio
Over the past 12 months the Whistler real estate sales to active listings ratio has moved between a balanced and buyer’s market. From this graph, we see that the market was in a strong Sellers market from Jan 2016 through to the end of 2018.
What Does the December 2019 Whistler Real Estate Report Mean to a Buyer?
What does this mean to you, the buyer? 2019 has been a period of adjustment for the seller. Coming off a 3 year high some are slowly adapting to the change in market conditions. For you, the buyer that means that you need an experienced negotiator, like me, on your side, it would be important not to overpay in this balanced/buyers market. If you think I would be a good fit to work with you as your realtor, please call me.
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.
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