Home buyer demand picks up significantly in Whistler in February.

What a difference a month makes! Whistler housing market saw a significantly jump in the number of sales in February compared to

January.   In Whistler in January we had only 19 sales but in February this number more than doubled with a total of 44 sales.   This is still slightly below the monthly average for 2022 and still down from the 79 sales in Whistler that we saw for February of 2022, but shows that buyers are less reticent about the market and are happy to jump in now to make their dream of owning in Whistler and Pemberton a reality.

Sales by the month:

Of the 44 sales in Whistler:

Under $1 million there were 18 sales:

6 Timeshares

5 Quartershares/shared ownership

3 Phase 2 condos

2 Employee condos

1 Phase 1 condo

1 Residential condo

$1 million to $2 million – 11 sales

6 Residential townhomes

3 Phase 1 townhomes

2 Phase 2 condos

$2 million to $3 million – 9 sales

4 Phase 1 townhomes

3 Single Family

1 Residential townhome

1 Phase 1 condo

$3 million to $5 million – 4 sales

2 Single Family

1 Phase 1 condo

1 Phase 2 condo

$5 million plus – 2 sales

1 Phase 1 condo

1 Single Family

There are currently 210 listings in Whistler (all product types)

Of the 5 sales in Pemberton: 3 townhomes, 2 single family

There are currently 49 listings in Pemberton.

So we were trying to gauge future demand at the start of the ski season and it seems that there are buyers jumping into the market during this winter.   The fact that the interest rates did not change at the last Bank of Canada’s rate announcement has meant that this stronger activity is continuing into March.   The inventory in Whistler is not increasing so finding the right property can be challenging.

In Vancouver, the story is a little different where there is well below average sales activity and an increasing inventory:

February listing data show a continued reluctance among prospective home sellers to engage in Metro Vancouver’s housing market, leading to below-average sales activity. With sales remaining well-below historical norms, the number of available homes for sale in the region have continued inching upwards. 

The good news is that Andrew Lis, REBGV’s director, economics and data analytics, is reporting:

“While we continue to expect home price trends to show year-over-year declines for a few more months, current data and market activity suggest pricing is firming up. In fact, some leading indicators suggest we may see modest price increases this spring, particularly if sales activity increases and mortgage rates hold steady,” Lis said. “In the somewhat unusual market environment we find ourselves in right now with higher mortgage rates, fewer sales, and inventory that is inching higher but remains far from abundant, working with a Realtor who understands your local market conditions and has experience navigating challenging markets is paramount.” 

Whistler Real Estate Statistics February 2023: CLICK HERE

Pemberton Real Estate Statistics February 2023: CLICK HERE