The number of active Whistler Phase I unlimited owner use nightly rental listings stayed the same from July to August 2023. Both months had 60 active condo and townhome listings. Compared to August last year, August 2023 posted 60 active listings versus 61 active listings in 2022.

The number of Phase I units sold also held steady over the past 2 months with both months reporting 13 sales. This gives us a ‘sales to active’ ratio of almost 22% for August 2023.  A Buyer’s market is anything less than 12% and a Seller’s market is above 20%. Last year, there were 9 Phase I sales in the month of August, a 44% increase in sales.

Median sale prices were down in August compared to July. The median Phase I sale price was $1.9M in July of this year, and in August this value was $1.3M, a decrease of 32% month over month. This time last year, the median sale price for a Phase I listing was $$1.3M. This represents a 2% decrease in value from this time last year.

Phase I Average Days on Market is less this year compared to August 2022. August 2023 average days on market is sitting at 38, compared to 60 days on market in August 2022. Total Year to Date sales volume has decreased 20% from last year; In August 2022 YTD sales volume was $253M; this year it is $203M.

If we include all residential and Phase II properties, Whistler’s real estate market saw a ‘sales to active’ ratio of 14.9% in August, a decrease from the previous month’s ratio of 18.3%.  Active listings for all Whistler real estate were 7% higher in August than July at 175, and up 2% compared to August 2022 which saw 172 active listings. Firm contracts were down 13% month over month and 13% lower year over year. Median sale prices were down 32% from July to $1.05M in August, and there is 7 months of inventory available on the market.

*Stats as of Sept 10, 2023 and taken from the Whistler Listing System and sampled from Phase I, Chalet, Condo, Duplex and Townhouse listings. Information deemed accurate at time of record and may be subject to change.

The number of active Whistler Phase II Hotel-condo listings decreased by 6% in August 2023, compared to July 2023. August had 17 active listings compared to 18 active hotel-condo listings in July.  Compared to August last year, August 2023 posted 17 active listings versus 18 active in 2022.  This represents 6% less active listings for Buyers to choose from this year, compared to last year.

The number of Phase II units sold is down from July; 3 sales in August compared to 5 in July. This still gives us a ‘sales to active’ ratio of 18% for August 2023.  A Buyer’s market is anything less than 12% and a Seller’s market is above 20%. Last year, there were 9 Phase II sales in the month of August.

Median sale prices were up again in August compared to July. The median Phase II sale price was $545,000 in July of this year, and in August this value was $650000, an increase of 19% month over month. This time last year, the median sale price for a hotel-condo listing was $488,000. This represents a 33% increase in value from this time last year.

Phase II hotel-condo Average Days on Market is less this year compared to August 2022. August 2023 average days on market is sitting at 28, compared to 81 days on market in August 2022. Total Year to Date sales volume has decreased 27% from last year; In August 2022 YTD sales volume was $37M; this year it is $27M.

If we include all residential and Phase I nightly rental properties, Whistler’s real estate market saw a ‘sales to active’ ratio of 14.9% in August, a decrease from the previous month’s ratio of 18.3%.

Active listings for all Whistler real estate were 7% higher in August than July at 175, and up 2% compared to August 2022 which saw 172 active listings. Firm contracts were down 13% month over month and 13% lower year over year.

Median sale prices were down 32% from July to $1.05M in August, and there is 7 months of inventory on the market.

Please connect if you would like further information and please think of me if you or friends are considering purchasing or selling Whistler real estate. I am happy to share my expertise.

*Stats as of Sept 10, 2023 and taken from the Whistler Listing System and sampled from Phase II, Chalet, Condo and Townhouse listings. Information deemed accurate at time of record and may be subject to change.

The number of active Whistler Phase II listings decreased by 6% in July 2023, compared to June 2023. July had 16 active listings compared to 17 active hotel-condo listings in June.  If we compare this to last year; July 2022 posted 25 active listings.  This represents 36% less active listings for Buyers to choose from this year, compared to last year.

The number of units sold is down from June; 3 sales in July compared to 4 in June. This gives us a ‘sales to active’ ratio of 18% for July 2023.  A Buyer’s market is anything less than 12% and a Seller’s market is above 20%. Last year, there were 7 Phase II sales in the month of July.

Median sale prices increased in July compared to June. The median Phase II sale price was $472,000 in June of this year, and in July this amount was $495,000, an increase of 5% month over month. This time last year, the median sale price for a hotel-condo listing was $472,000. This represents a 10% increase in value from this time last year.

Average Days on Market is less this year compared to July 2022. July 2023 average days on market is sitting at 11, compared to 29 days on market in July 2022. Total Year to Date sales volume has decreased 25% from last year; In July 2022 nightly rental YTD sales volume was $32M; this year it is $24M.

If we include residential and Phase I nightly rental properties, Whistler’s real estate market saw a ‘sales to active’ ratio of 18.3% in July.  Active listings for all Whistler real estate were 4% higher in July than June at 164, but down 11% compared to July 2022 which saw 184 active listings. Firm contracts were up 3% month over month and 25% higher year over year. Median sale prices were down 13% from June to $1.53M in July, and there is 5 months of inventory currently on the market.

*Stats as of August 6, 2023 and taken from the Whistler Listing System and sampled from Chalet, Condo and Townhouse listings. Information deemed accurate at time of record and may be subject to change.

The number of active Whistler Phase I listings (Townhouse and Condo) increased by 5% in July 2023, compared to June 2023. July had 60 active listings compared to 57 active nightly-rental listings in June.  If we compare this to last year; July 2022 posted 69 active listings.  This represents 13% less active listings for Buyers to choose from this year, compared to last year.

The number of units sold is up from June; 13 sales in July compared to 8 in June.  Last year, there were 10 Phase I sales in the month of July.  This gives us a ‘sales to active’ ratio of 21.7% for July 2023.  A Buyer’s market is anything less than 12% and a Seller’s market is above 20%.

Median sale prices increase in July compared to June. The median Phase I sale price was $1,289,000 in June of this year, and in July this amount was $1,916,250, an increase of 49% month over month. This time last year, the median sale price for a nightly rental listing was $1,583,750. This represents a 21% increase in value from this time last year.

Average Days on Market is higher this year compared to July 2022. July 2023 average days on market is sitting at 42, compared to 36 days on market in July 2022. Total Year to Date sales volume has decreased 23% from last year; In July 2022 nightly rental YTD sales volume was $243M; this year it is $187M.

If we include residential listings and hotel-condos, Whistler’s real estate market saw a ‘sales to active’ ratio of 18.3% in July.  Active listings for all Whistler real estate were 4% higher in July than June at 164, but down 11% compared to July 2022 which saw 184 active listings. Firm contracts were 3% higher month over month and 25% higher year over year. Median real estate sale prices were down 13% from June to $1.53M in July, and there is 5 months of inventory currently on the market.

Please connect if you further information and please think of me if you or friends are considering purchasing or selling Whistler real estate. I am happy to share my expertise.

Sincerely,

Nick

*Stats as of August 6, 2023 and taken from the Whistler Listing System and sampled from Chalet, Condo, Duplex, Townhouse and Triplex listings. Information deemed accurate at time of record and may be subject to change.

Whistler residential property (Chalet, Townhouse and Condo) sales saw 2023 median monthly sale prices increase in July compared to June.*

In June the median residential sale price was $1,537,500 and in July this amount was $2,025,000; an increase of 32%. This time last year, the median sale price was $1,588,333. This represents a 27% increase in values from this time last year.

The number of active listings increased by 3% in July 2023 compared to June 2023. July had 77 active listings compared to 75 active residential listings in June.  If we compare this to last year; July 2022 posted 85 active listings.  This represents 9% less active listings for Buyers to choose from this year, compared to last year.

The number of units sold is down from June; 12 sales in July compared to 17 in June.  Last year, there were 6 residential sales in the month of July.  This gives us a ‘sales to active’ ratio of 15.6% for July 2023.  A Buyer’s market is anything less than 12% and a Seller’s market is above 20%.

Average Days on Market is substantially higher this year compared to July 2022.  July 2023 average days on market is sitting at 68 compared to 41 days on market in July 2022.  Total Year to Date sales volume has decreased 19% from last year; In July 2022 residential YTD sales volume was $338M; this year it is $274M.

If we include nightly rental properties and hotel-condos, Whistler’s real estate market saw a ‘sales to active’ ratio of 18.3% in July.  Active listings for all of Whistler were 4% higher in July than June at 164, but 11% less compared to July 2022, which saw 184 active listings. Firm contracts were 3% higher month over month and 25% higher year over year. Median sale prices were down 13% from June to $1.5M in July, and there is 5 months of inventory currently on the market.

*Stats as of August 6, 2023 and taken from the Whistler Listing System and sampled from Chalet, Condo and Townhouse listings. Information deemed accurate at time of record and may be subject to change.

June 2023 saw 342 active Phase I listings.  This compares to 228 in June 2022 and represents a 50% increase in listings from this time last year.

We saw 102 Phase I sell in June 2023 compared to 122 in June 2022, a decrease of 16%.

Average days on market increased 249% from 17 DOM in June 2022 to 61 DOM in June 2023.

Median sale prices for Phase I listings saw a drop from this time last year.  In June 2022 the median sale price was $1.5M.  Last month it was at $1.4M which is a 5% decrease in Median Sale Price.

Year To Date volume (Jan – June.) was down 15% from $217M in 2022 to $184M in 2023.

If we look at the broader market and include residential and Phase II ‘hotel-condo’ properties, in May 2023 we had 181 active listings compared to 217 in June.  This is 20% in listings. Units sold were down 49% month over month, from 63 in May to 32 in June.  Median sale price increased from $1.25M to $1.47M.  This represented a 17% increase in sale price.

*As of July 4, 2023 and taken from the Whistler Listing System.  Information deemed accurate at time of record and may be subject to change.

June 2023 saw 155 active Phase II listings.  This compares to 121 in June 2022 and represents a 28% increase in listings year-over-year.

We saw 33 hotel-condo apartments sell in June 2023 compared to 54 in June 2022, a decrease of 39%.

Average days on market increased 67% from 38 DOM in June 2022 to 64 DOM in June 2023. Year To Date volume (Jan – June.) was down 23% from $28.8M in 2022 to $22.2M in 2023.

Just as we saw in May, median sale prices for hotel-condos are increasing.  In June 2022 the median sale price was $479,000.  Last month it had risen 2% to $490,000.  Post pandemic income is steadily returning to the resort and I feel we will see prices in the hotel-condo sector continue to increase.  If you are considering a purchase, ensure you have your ‘ducks in a row’ in order to be in a position to make a competitive offer.  If you are thinking of selling, hold tight for now – I foresee the upcoming winter season will bring a shortage of inventory and an increase in demand, pushing prices higher.

If we look at the broader market and include residential and Phase I properties, in May 2023 we had 181 active listings compared to 217 in June.  This is 20% in listings. Units sold were down 49% month over month, from 63 in May to 32 in June.  Median sale price increased from $1.25M to $1.47M.  This represented a 17% increase in sale price.

*As of July 4, 2023 and taken from the Whistler Listing System.  Information deemed accurate at time of record and may be subject to change.

May 2023 saw 135 active Phase II listings.  This compares to 94 in May 2022 and represents a 44% increase in listings year over year.

We saw 30 hotel-condo apartment’s sell in May 2023 compared to 50 in May 2022, a decrease of 40%.

Average days on market increased 63% from 40 DOM in May 2022 to 65 DOM in May 2023. Year To Date volume (Jan – May.) was down 25% from $27M in 2022 to $20M in 2023.

Median sale prices for the hotel-condo sector are increasing.  In May 2022 the median sale price was $480,000.  Last month it had risen 3% to $494,500. This increase in sale price appears to be a trend for 2023 as more buyers turn to the hotel-condo market to satisfy lifestyle and investment goals. We recently saw a record price for both a 1-bedroom and 2-bedroom at the Westin and also a studio at the Delta Village Suites.

The Whistler Phase I nightly-rental real estate sector saw median sale prices decline from May 2022 compared to last month.  May 2023 saw sale prices average $1.43M, compared to May 2022, which saw sales prices average $1.49M.  This represents an 4% decline year over year.

The number of active listings increased from 165 in 2022, to 274 available listings to purchase in May 2023, a 66% year over year increase in listings.

The number of listings sold was down 21%, from 111 sales of nightly rental properties in 2022 to 88 in 2023, with Days on Market increasing from 17 in 2022 to 63 DOM in 2023.

Year to Date total dollar volume for Phase I nightly rental properties was down 18% from $196M in 2022 to $160M in 2023.

If we look at month to month stats for all Whistler listings (Phase I, Phase II hotel-condos and Residential) comparing April 2023 to May 2023, median sale price declined 8% from $1.37M to $1.27M.

The number of active listings also declined month over month, by 6% (192 in April, down to 181 in May) and units sold declined 5% from 55 in April 2023 to 52 in May.

*As of June 2, 2023 and taken from the Whistler Listing System.  Information deemed accurate at time of record and may be subject to change.

The overall number of active Whistler listings* decreased in April 2023 to 192, down 12% from March which recorded 217 Active listings. Sales also decreased in April to 49 from 51 sales in March 2023.  This is a 4% reduction which technically keeps us in a “sellers’ market”.  This occurs when the sale to active ratio is higher than 20%.  March saw a 23.5% SA ratio and a 25.5% SA ratio in April for all Whistler real estate.

If we look at month to month stats for all Whistler listings (Phase I, Phase II hotel-condos and Residential non-rental properties) comparing March 2023 to April 2023, median sale price decreased 9% from $1.5M to $1.36M.

Year to Date total dollar volume for Phase I nightly rental properties was down 30% from $164M in April 2022 to $114M in April 2023.  We need to consider that this time last year the recreational market was continuing to high demand prior to interest rate hikes.

The Phase I nightly rental sector saw median sale prices decline from April 2022 compared to last month.  April 2023 saw sale prices average $1.35M, compared to April 2022, which saw sales prices average $1.53M.  This represents an 12% decline year over year.

The number of nightly rental listings sales was down 30%, from 92 sales of Phase I zoned residences in April 2022, to 64 in 2023.  The Days on Market increased from 14 in 2022 to 60 DOM in April 2023.

The number of active listings to purchase increased 88% in April 2023 to 225, from the 120 we were working with in April 2022.  With sales 64 and active listings at 225 in April 2023, we have a SA Ratio within the Phase I sector of 28.4%.  Anything above 20% SA ratio is considered a sellers’ market.

*All stats as of May 4, 2023 and taken from the Whistler Listing System.  Information deemed accurate at time of record and may be subject to change.