Jul 18, 2014 Real Estate News

Market Report

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Market Report

The Whistler real estate market continued to build momentum during the first half of 2014. Strong demand from buyers combined with fewer properties being offered for sale resulted in strong improvements in both the total number of transactions and the total value of those transactions. Sales activity continues to be highly focused on properties valued under 1.5 million that maximize personal use and offer good value for the dollar.

Overall, the total number of transactions increased by 21% over the same period in 2013. This was largely due to a 40% increase in transactions in the townhome segment and a 23% increase in the number of condominium transactions.

This increased activity has combined with strongly increasing prices to push the total value of sales transactions up by 15% as compared to this time last year. The average value of single family homes (which increase by 14% to $1,612,326) and condominiums (which increased by 25% to $395,762) showed the greatest year-to-year improvement.

However, all categories of the market (other than the super luxury market which does not lend itself to yearly analysis) have shown improvements so far in 2014.

We continue to view the market as balanced overall, with some seller side strength in townhouses and within several price ranges. Well priced properties garner immediate attention so buyers are well advised to do their diligence and make decisions quickly. The pool of available properties is not as deep and with the current high levels of interest from lifestyle buyers and investors, good properties change hands quickly.

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