September was a busy month not only did Whistler break all records for summer visitors, but it was also the highest month for sales transactions since 2007. Whistler real estate agents sold 69 homes compared to Janaury's 28 and the monthly average of 40, activity has definitly picked up in our #1 Resort Town. Is this a sign of things to come?
We've been talking about Whistler being a Buyers market for years (since after the economic crisis of 2008), however, with the increase of sales compared to the low inventory levels (loweset in 6 years) our market is transitioning from a Buyers market into a balanced market.
Why the change in the market?
1. Bottom of market pricing note: this is changing
2. Limited housing supply (demand vrs supply)
3. Record breaking summer visitors
4. Stability and confidence in the general economy
To help demonstrate i've included a graph for the past 7 years showing the decline in prices since 2006 and the increase in sales (note 2013 still has 3 strong sales months to come).
Have a great week!