Market UpdateWhistler

2020 Whistler real estate year in review – what you need to know

By January 30, 2021 February 2nd, 2021 No Comments

2020 was a record breaking year for real estate in Whistler.  It would have been difficult to predict in March how much buyer demand we would see for resort real estate through the remainder of the year.  Motivated by wanting space to breath and the ability to work and educate from home, there was an exodus from urban areas to rural and resort towns.

  • 2020 saw just over $1.1Billion in sales volume in Whistler resort.  2017 was the only other year in the history of the resort where volume just crested over the $1B mark.
  • We saw 730 sales in 2020 compared to 560 in 2019.  This represents a 30% increase.
  • Single family homes led the charge; there were 148 sales in 2020 compared to 92 sales in 2019.  This represents a 60% increase.
  • Median home sale prices also increased, seeing a 9.4% increase to $2.44M in 2020 compared to $2.23M in 2019.
  • Townhouses saw a 48% increase in the number of sales in 2020; 253 sales compared to 170 sales in 2019.
  • Median sales price for townhouses stayed fairly constant; $1.23M in 2020 compared to $1.18M in 2019.  This represents a 4% increase.
  • Condos saw a 10% decrease in the number of sales in 2020 compared to 2019.  2020 saw 194 sales and 2019 saw 216 sales.
  • 2020 condo median sale values were up 16% to $675,000 from their 2019 values of $580,000.

 

As 2021 begins, the trend continues with lack of available inventory being the biggest challenge facing buyers.  While difficult to predict, I expect we will see more inventory come to the market in the spring, but potentially at higher price points.  Lending rates are low, the resort has a small and fixed amount of inventory but demand continues to grow.  The market here tends to move up quickly in value but takes a longer time to come down and now is an excellent time to be making the move into the market. If you already own in Whistler, now is a very good time to be looking to upsize or downsize.

If you would like more information on some of the real estate opportunities that exist in the Whistler resort, please contact us today.

Wishing you and yours a happy and healthy 2021,

Nick

 

© Nick Swinburne Personal Real Estate Corporation. Jan. 30 2021. Source: Whistler Listing Service. While the Information is considered to be true and correct at the date of publication, changes in circumstances after the time of publication may impact on the accuracy of the Information.