In August we had a total of 31 sales in Whistler.   How this compares: In Whistler in January we had only

19 sales but in February this number more than doubled with a total of 44 sales; in March we had a total of 51 sales and in April we had a total of 56 sales.  In May we had a total of 64 sales, proving to be the busiest month for sales in 2023 - in June we had a total of 38 sales, July we had 39 sales and in August it was one of the quieter months with 31 sales.   Where we saw the drop in sales in August was primarily in the $1 million to $3 million product, compared to July.

Sales by the dollar range:

Of the 31 sales in Whistler:
 

Under $1 million there were 15 sales:

7 Phase 1 condos and townhomes

3 Quartershares

3 Phase 2 condos

1 Employee townhome

1 Timeshare

$1 million to $2 million – 7 sales

3 Residential townhomes

3 Phase 1 condos and townhomes

1 Employee townhome

$2 million to $3 million – 4 sales

3 Phase 1 townhomes

1 Employee Single Family

$3 million to $5 million – 1 sale

1 Single family home

$5 million + - 4 sales

2 Single Family

1 Half Duplex

1 Acreage

There are currently 255 listings in Whistler (all product types) – another increase compared to last month.
 
Of the 8 sales in Pemberton in August: 3 single family, 2 townhomes, 2 vacant land and 1 condo.
 
There are currently 81 listings in Pemberton – a very slight increase in the number of listings compared to last month.
 
So far September is not proving to be the strong market typically seen in past years but is going to end up with more sales than August.

Meanwhile in Vancouver: 
 
The question being asked by the Real Estate Board of Greater Vancouver is “Will home sales stay resilient in the face of high interest rates?”
 
Since the Real Estate Board of Greater Vancouver published its first half forecast in January Metro Vancouver’s residential market has shown surprising resilience and strength, with the impact of the Bank of Canada’s most recent tightening cycle beginning to fade into the backdrop of history.
While mortgage rates remain at levels not seen in over ten years, home sales have been relatively strong with sales activity nearing pre-tightening cycle levels. But will this trend continue?
Their H2 forecast looks at current and historical market trends alongside economic factors like inflation and risk of recession to predict what the second half of 2023’s housing market will look like. 
 
Key highlights of their H2 forecast:

• With the actual number of sales falling just shy of the predicted year-to-date total they believe our H1 forecast remains on-track.
• Prices have already surpassed our year-end estimates from H1, and inventory remains historically low. They have revised our price growth estimates modestly upwards.
• While inflation is finally receding in Canada, the impact of higher interest rates still poses risks to the greater economy.

Whistler August 2023 Real Estate Statistics: CLICK HERE
Pemberton August 2023 Real Estate Statistics: CLICK HERE