Interest Rates and Inflation are Affecting the Market but Buyers are still Buying

October has certainly been a slower month for sales.   Compared to October of last year, sales in October 2022 were down 42% in volume.   41 sales this year versus 70 sales in October of last year.   There was a slightly larger 45% drop in sales in Vancouver when comparing October of this year and October of last year.

 

However, unlike the Vancouver market, where sales in October dropped in volume by 13% compared to September, the volume of sales in October in Whistler was up from September by 25% and the listing inventory in Whistler is not increasing.    So interesting times ahead - obviously the higher interest rates and inflation is affecting the market but buyers are still keen, if they want to be using their recreational property this winter.   As it is often a lifestyle choice, some people are saying why wait. 

Of the 41 sales in October:

Up to $1 million: 16 sales

5 Shared ownership

5 Phase 2 condos

4 Phase 1 condos

2 Residential condos

Between $1 million and $2 million: 10 sales

6 Phase 1 condos

2 Phase 1 townhomes

1 duplex

1 Residential townhome

Between $2 million and $3 million: 9 sales

3 Single Family

2 Phase 1 townhomes

2 duplexes

1 Residential townhome

1 Phase 1 condo

Between $3 million and $5 million:  1

1 Phase 1 townhome

Over $5 million: 5

3 Single Family

2 Duplex

1 Townhome

There are currently 228 listings in Whistler (all product types)

PEMBERTON

There were 5 sales in Pemberton in October: 2 townhomes, 1 condo, 1 single family and 1 single family on acreage

There are currently 53 listings in Pemberton.

Whistler October Sales Statistics

Pemberton October Sales Statistics