Back To Blog December 8, 2024
Whistler real estate market update: November 2024
Since I wrote my last update, both Whistler and Blackcomb have opened, there is a discernible increase in guests to the resort, we are just over 2 weeks away from the festive holiday break and our local real estate is experiencing growing momentum as month over month sales hold steady or increase.
9 years ago the US dollar was buying $1.45 CAD and with it the resort saw an increase in buyers either from the USA or using USD to purchase real estate here. The discount that buyers using USD enjoyed, had the effect of moving price points higher than the resort had previously experienced, pricing many Canadian buyers out of our recreational market.
Since it’s more recent low in June 2021, the value of the USD has again been steadily gaining against the CAD.  A check today shows 1 USD will buy $1.42 CAD and most feel the increase will continue into 2025. In the past 2 weeks there has been a palpable increase in the number of inquires coming from buyers in the USA or buying in USD.  I am certain 2025 will see a higher volume of sales in Whistler and a reduction in overall inventory available to purchase. The result will be upward pressure on pricing.  We have seen this occur several times in the past and I see no apparent reason why 2025 won’t see a duplication of this trend.
The Whistler real estate market showed varying trends across property types in November 2024. Below is the comprehensive breakdown of monthly changes from October to November and updates in YTD sales volume.
All Whistler Properties
  • Monthly Active Listings: Decreased by 6%, from 239 in October to 224 in November.
  • Monthly Firm Contracts: decreased by 30%, from 40 to 28.
  • Sales to Active Ratio: decreased 25% from 16.7% to 12.5%.
  • Median Sale Price: Dropped by 15%, from $1,170,000 to $992,000.
  • Monthly Sales Volume: Decreased slightly by 8%, from $60.56M to $55.56M.
  • Yearly Sales Volume (Jan–Nov 2024): sat at $721M, down 7% from 2023 .
  • Months of Inventory: Remained steady at 8 months.
Single-Family Homes
  • Monthly Active Listings: Declined slightly by 6%, from 93 to 87.
  • Monthly Firm Contracts: Held steady at 5 for both months.
  • Sales to Active Ratio: Increased marginally by 7%, from 5.4% to 5.7%.
  • Median Sale Price: Declined by 19%, from $3,500,000 to $2,850,000.
  • Monthly Sales Volume: Jumped by 55%, from $18.37M to $28.49M.
  • Yearly Sales Volume (Jan–Nov 2024): $287.5M, down 10% from 2023.
  • Months of Inventory: Decreased by 11%, from 19 months to 17 months.
Townhomes Phase I
  • Monthly Active Listings: Stayed consistent at 37.
  • Monthly Firm Contracts: Increased by 40%, from 5 to 7.
  • Sales to Active Ratio: Improved by 40%, from 13.5% to 18.9%.
  • Median Sale Price: Dropped by 6%, from $1,725,000 to $1,625,000.
  • Monthly Sales Volume: Grew significantly by 65%, from $8.24M to $13.57M.
  • Yearly Sales Volume (Jan–Nov 2024): sat at $137M compared to $146M the year before.
  • Months of Inventory: Declined by 29%, from 7 months to 5 months.
Townhomes Residential
  • Monthly Active Listings: Declined by 16%, from 25 to 21.
  • Monthly Firm Contracts: Held steady at 3.
  • Sales to Active Ratio: Increased by 19%, from 12.0% to 14.3%.
  • Median Sale Price: Dropped by 13%, from $1,230,000 to $1,066,511.
  • Monthly Sales Volume: Fell by 2%, from $3.81M to $3.75M.
  • Yearly Sales Volume (Jan–Nov 2024): sat at $75M, down 9% from 2923.
  • Months of Inventory: Dropped by 13%, from 8 months to 7 months.
Condos Phase I
  • Monthly Active Listings: Increased by 5%, from 44 to 46.
  • Monthly Firm Contracts: Declined by 43%, from 7 to 4.
  • Sales to Active Ratio: Declined by 45%, from 15.9% to 8.7%.
  • Median Sale Price: Dropped by 6%, from $1,044,000 to $979,500.
  • Monthly Sales Volume: Declined significantly by 53%, from $9.76M to $4.63M.
  • Yearly Sales Volume (Jan–Nov 2024): $122m down 1% from 2023.
  • Months of Inventory: Increased by 100%, from 6 months to 12 months.
Phase II Hotel-Condos
  • Monthly Active Listings: Dropped by 20%, from 25 to 20.
  • Monthly Firm Contracts: decreased 46%, from 13 to 7.
  • Sales to Active Ratio: dropped 33%, from 52% to 35%.
  • Median Sale Price: Fell by 7%, from $468,000 to $437,500.
  • Monthly Sales Volume: Declined by 44%, from $6.74M to $3.79M.
  • Yearly Sales Volume (Jan–Nov 2024): $46.1M up 13% from 2023..
  • Months of Inventory: Increased by 50%, from 2 months to 3 months.
Condos Residential
  • Monthly Active Listings: Decreased by 17%, from 6 to 5.
  • Monthly Firm Contracts: Declined from 3 to 1.
  • Sales to Active Ratio: Dropped by 60%, from 50.0% to 20.0%.
  • Median Sale Price: decreased from $1.17M to $665,000.
  • Monthly Sales Volume: Fell by 43%, from $1.17M to $665,000.
  • Yearly Sales Volume (Jan–Nov 2024): $20.M.
  • Months of Inventory: Remained stable at 2 months.
Whistler real estate Market Summary
Inventory is staying relatively stable but with increasing buyer inquiries, especially from buyers using USD, and decreasing interest rates, we expect to see demand increase and with it, prices. If you’re considering buying, now may be an excellent opportunity to enter the market at today’s prices before inventory begins to decline heading into 2025. For sellers, patience will be crucial with the potential for the Whistler market to transition from a buyers/balanced market to one that favours sellers.
This will be my last update in 2024, and I will take this opportunity to wish you a very happy and relaxing holiday season ahead. Please look forward to my December 2024 update next month.
For tailored advice or assistance with buying or selling properties in Whistler, please connect – I look forward to helping!
My best always,
Nick
*Source: Whistler Listing Service as of December 8 2024. While the Information is considered to be true and correct at the date of publication, changes in circumstances after the time of publication may impact on the accuracy of the Information.