Market Update

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Whistler Real Estate Market

This page covers the status of the real estate market in Whistler with links to Buying for residents and non-residents of Canada. The market conditions determine whether it is the best market to buy or sell.

Non-Resident Buying Whistler Real Estate

If you are a non-resident Buyer, do yourself a favor and read the following pages that were written especially for you.

  1. Non-resident: Buying
  2. Non-resident: Buying Process
  3. Non-resident: Finance and Funds
  4. Non-resident: Owning
  5. Non-resident: Taxes and Fees
  6. Non-resident: Selling
  7. Non-resident: FAQ

Canadians Buying Whistler Real Estate

If you are a Canadian Citizen or a Permanent Resident of Canada, these pages are for you:

  1. Buying Process
  2. Taxes and Fees on Whistler Real Estate

Monthly Market Update: video

Each month I record a Whistler Real Estate Market Update video. This means that in less than 99 seconds each month, you can stay informed on the market. Below is the current month’s market update.

Canadian/Vancouver Real Estate Market: video

Looking for more information on the Canadian real estate market with a focus on British Columbia? I recommend you subscribe to the YouTube channel of Steve Saretsky. Steve is a Vancouver Realtor, Housing Analyst/Consultant, and Canadian Real Estate/Finance Blogger. Steve is widely considered a thought leader in the industry with regular appearances on Bloomberg, CBC, The Vancouver Sun, and various other media outlets. Here is the link to subscribe to Steve’s Monday Newsletter, which is always worth a read.

Now back to more on the Whistler real estate market…

Market Update by Segment

We have already established the three types of markets: 1) seller’s market; 2) balanced market; and 3) buyer’s market. Within each of those types of markets are three segments that all act independently and have an effect on the type of market. Those three segments are 1) detached houses, 2) condominiums, and 3) townhomes.

Detached Houses Market Update

This must be the clearest report to interpret. In essence, the price point you have budgeted will possibly be how you use this report, in addition to the neighborhood. Some detached houses in Whistler have nightly rental zoning and others are residential.

Condo Market Update

The condo market update mixes in everything with a condo in the name. By that I mean: residential; zoned for nightly rental; hotel condos with restrictions (phase 2); fractional ownership of quarter share and time-share. In essence, any evaluation of a condo should be done by comparing the sales in the same development. However, it does give the breakdown by neighborhood and price range which can be useful. In addition, at a glance, you can see where there are condos for sale within Whistler, which may help adjust your expectations.

Townhome Market Update

The townhome and half-duplex report is like the detached house report, it is simple to understand if you keep in mind that the location should indicate the zoning. For example, the Benchlands and Whistler Village are zoned for nightly rentals. Whistler Creekside is too wide a category to say whether the property would have nightly zoning or not. Vancouver and Lower Mainland market owners make up at least 65% of the market under $1.5M.

Home Price Index (HPI)

This is one chart that should be used for anyone trying to figure out what has happened to real estate over a long period. I expect there are other ways to use this, but that is the only way I use this chart. It also supports the theory that the best investment is always a detached house because each is unique. What you do is pick the two points in time you wish to evaluate. Then determine the price increase and from there you determine the percentage increase in that segment. Yes, this is only a guideline, but it is a good guideline.

The Average Price Per Square Foot chart is exciting to think about. However, it is fraught with outliers that can cancel out any rationale you may think you have established. Sorry, but you are on your own with this chart!

January 2024 detached houses increased value

Whistler Property Values

These two charts show you the percentage change in Whistler real estate over specific periods. I use these charts to answer questions about how much a segment has increased in value. The apartment statistics include every type of property labeled as a condo. The single-family detached is probably the purest statistic to rely upon.

The statistics and graphs in the page content are provided monthly by the Real Estate Board of Greater Vancouver (REBGV).

Next Steps

Buying real estate in Whistler, whether ski-in/ski-out or not, is a smooth process when working with an experienced Whistler real estate agent who follows the rules. Everything in real estate, except for writing the contract and the negotiation is a process. Experienced realtor, and skilled negotiator, Marion Anderson will work with you directly from start to finish. No assistants are involved.

If you think I would be a good fit to work with you and your family, and you are not already working with a Whistler realtor, please contact me. I look forward to hearing from you.

It’s a Good Life in Whistler!

Marion

Marion Anderson Personal Real Estate Corporation

marion@WhistlerSkiinSkiout.com (604) 938-3885