WHISTLER REAL ESTATE NEWS -DECEMBER 2022 & YEAR IN REVIEW

WHISTLER REAL ESTATE NEWS -
DECEMBER 2022 & YEAR IN REVIEW

Greetings from Whistler / Pemberton! I hope 2023 is off to a great start for you, and you were able to spend some time with friends and family during the holidays. If there is one newsletter to read per year, this is it. I will go over everything happening in December and a full recap on the sales trends and statistics in Whistler for all of 2022. 
  • FEDERAL FOREIGN BUYER BAN - WHISTLER IS OFFICIALLY EXEMPT FROM ALL FOREIGN BUYERS TAX, SPECULATION TAX AND EMPTY HOMES TAX! More information here.
  • There were $70,809,000 worth of real estate transactions in December vs $54,320,599 in November. This represents a 30% increase in sales volume month-over-month.
  • Our busiest month of 2022 was March with $154,409,016 worth of real estate transactions.
  • There were 471 sales in Whistler in 2022 vs 810 sales in 2021. The lowest amount of sales in the last decade was 522 in 2012. In one year, sales volume has decreased by 42%.
  • Median days to sell in December was 51 days, vs 40 days in November and only 10 days in February.
  • Months of Inventory in December is consistent at 6 months. From January to April, there were only 2 months of active listing inventory.
  • There were 6 price reductions in December 2022 in Whistler. LINK TO PRICE REDUCTIONS IN DECEMBER 2022.
  • If you are looking for value, there are lots of great deals out there. Most properties are selling below the asking price. Make some offers. You might be surprised what happens.
  • The median sale in 2022 was $1,500,000 vs $1,287,500 in 2021. This represents a 14% appreciation year-over-year. Prices are up while sales volume is down.
  • Listing inventory is down to 158 listings in December from 181 in November.
  • The most listing inventory in the last decade was April 2013 when there were 571 listings in Whistler.
  • The least listing inventory was January 2022 when there were only 109 listings on the market.
  • This represents an 81% variable from 'peak-to-valley'.
  • The median listing price in 2022 was $1,699,00 with a median sale price of $1,506,250. A discount of 11%. There was less than a 1% from discount asking price in 2022.
  • The median sales price of single family homes is up 18% in 2022 vs 2021.
  • There were 91 chalets sold in 2022 vs 162 sold in 2021. This represents a decline of 44% in sales volume. This paired with more high-end properties selling than entry-level single family homes are skewing these numbers.
  • The median sale price of Whistler condos has increased by 4% while sales volume is back to 'normal' levels but down 35% from the 'buying frenzy' of 2021.
  • The median sales price of a building lot in Whistler is $1,740,000. Thee lots are typically located in Wedgewoods on the north end of Whistler Village or Cheakamus Crossing on the Southside of Whistler Creekside.
  • Phase 1 properties remain the most sought after real estate in Whistler, making up for 41% of all transactions in 2022.
  • The median sales price of Phase 2 units in Whistler has increased 18% since 2021 and 44% since 2018. In a slower market, Phase 2 sales volume has only declined by 12%.
  • The New 10-person Creekside Gondola is uploading guests as of December 23, 2022!
If you would like any more information about any listings, chat real estate or just say 'hi', please call, text or email me anytime. If you plan on being in Whistler this winter, it would be great to see you.

Do you know anyone thinking about buying or selling in the Sea-to-Sky? Please pass on my info. 

THANK YOU FOR YOUR BUSINESS IN 2022! 
 
All the very best,
 
Matthew Callaghan - Personal Real Estate Corporation
Sutton Group - West Coast Realty
matt@whistlerrealestatelistings.com
cell: 604-966-8678