Whistler real estate November 2021 month in review
Year to Date dollar volume for Whistler came in just under $1.3BN CDN at the end of November*, setting a new record for the resort. Looking back, we see some interesting trends, the stand out being the increase in the Average Median Sale Price for single family homes: in 2019 this sat at $2.2M CDN; 2020 we saw this move to $2.4M and this year it currently sits at $3.3M. In 2019 we saw 92 sales in this segment of the market. 202 saw 148 sales and by end of November 2021 we had 153 sales. In the nightly rental townhouse market, we saw some record high sales but overall the price point stayed relatively flat over the past few years. The median sale price for a Phase I townhouse in 2020 was $1.31M, compared to 2021 which saw median sales prices of $1.35M. The number of sales were lower in 2021 which saw 112 sales to the end of November compared to 134 sales in 2020. In the nightly rental condo market, we saw higher gains made in 2021; the median sale price so far in 2021 is $1M compared to 2020 which saw a median of $812,000. More inventory to sell meant higher numbers of sales; 167 in 2021 compared to 112 in 2020.
Hotel condos also saw increases both in median sale prices and number of sales: 2020 saw a median sale price of $350,000 compared to $406,750 this year. 2020 saw 61 sales of the Phase II product compared to 92 sales by the end of November 2021. Residential properties that did not offer nightly rental were also in demand; non-nightly rental townhouses saw a median sale price of $1.32M in 2021, up from the 2020 figure of $1.1M. Lack of available inventory did stunt the number of sales; 2020 saw 92 sales compared to this years running total of only 83. By the end of December, we may see this amount be equal, but again, historically low inventory is preventing people being able to purchase in the resort. The median price of a residential apartment outside of the village rose from $495,000 in 2020 to $595,000 in 2021. Despite the continued lack of inventory, monthly sales remained consistent through November. Removing shared ownership and Vacant lots from listings, Whistler is floating at around 50 Freehold Full ownership properties currently for sale.
To view the stats for each sector of our Whistler market, please click this link.
During what can only be described as a challenging year for so many of our families, I take this opportunity to wish you and your family a safe and happy holiday break and a healthy and prosperous 2022.
As always, please reach out if we can assist with any questions you may have on our local Whistler market.
Sincerely,
Nick
*Taken from the Whistler Listing System for Chalet, Condo, Duplex, Townhouse and Triplex listings.
