Last year was another positive year for the Whistler real estate market. The past few years have seen continued growth year after year with the number of sales. This trend held true for the first few months of 2014.
The Whistler Listing System reported a total of 109 sales for February and March 2014 compared to 99 for the same period in 2013. Total dollar volume was down the first two months of this year compared to last year mainly due to the lower number of chalet sales over $1M. Total dollar volume for the first two months: $70M in 2014 versus $90M in 2013.
The lowest sale: Holiday Inn - 320sf studio Sold: $32,000. The highest sale: Alta Vista - 5000sf lakeside chalet Sold: $3,470,000. The same period in 2013 saw the lowest sale: Holiday Inn - 405sf studio Sold: $49,900. The highest sale: Four Seasons Private Residence - 3700 sf condo Sold: $4,800,000.
Sales by Property-Type for the first two months of 2014 versus 2013 are as follow: Chalets: 14 vs 30 / Townhouses: 37 vs 28 / Unrestricted Condos (Phase 1): 14 vs 17 / Condo Hotels (Phase 2): 16 vs 12 / Shared Ownership: 16 vs 12.
Listing inventory is down considerably from a year ago. A trend that we have seen over the past year. Active Listings at this time last year were approximately 611 compared to 501 this year.
The major source of buyers continue to be regional from Greater Vancouver. In 2013 there were a total of 640 sales. Buyers’ home countries were: Canada: 546 / USA: 29 / China: 24 / UK: 11/ Australia: 10 / Singapore: 6 / Mexico: 3. Of the 109 sales in the first two months of 2014 the Buyers’ home countries were: Canada: 76 / USA: 9 / UK: 3 / Asia (China - Hong Kong - Singapore): 4 / Australia: 2.
With the positive snowy end to the winter season, a steady stream of resort visitors, a weaker Canadian dollar and continued low interest rates, we expect 2014 will continue to build on the steady trend we have seen over the past three years.
For a more detailed report on specific property types of interest, please contact me, Tracy Collingridge your local Sutton Whistler REALTOR®.