Whistler
Here is a snapshot of our local real estate market for the month of March! As you can see it’s a great time for Sellers to put their place on the market no matter the property type!
To keep you up to date with the Real Estate Listings in Whistler, here are links to all properties listed and sold in the last 7 days.
If you are interested in any of the properties or have any other questions, always feel free to contact us!
Whistler
In August 2020, there were 18 sales of detached homes and 116 active listings in Whistler. The benchmark sale price was $1,685,100.
The condo market had 20 sales and 148 active listings at the end of the month. The benchmark sale price was $506,200.
The townhome market had 27 sales and, the active listings were 85. The benchmark sale price was $922,400.
It’s a Buyer’s market for homes and condos in Whistler.
Home buyers and sellers remained active across Metro Vancouver* in August, with home sale and new listing activity outpacing the region’s historical averages.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,047 in August 2020, a 36.6 per cent increase from the 2,231 sales recorded in August 2019, and a 2.6 per cent decrease from the 3,128 homes sold in July 2020.
Last month’s sales were 19.9 per cent above the 10-year August sales average.
There were 5,813 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in August 2020. This represents a 55.1 per cent increase compared to the 3,747 homes listed in August 2019 and a 2.3 per cent decrease compared to July 2020 when 5,948 homes were listed.
This was 34.8 per cent above the 10-year August new listings average.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 12,803, a 4.4 per cent decrease compared to August 2019 (13,396) and a six per cent increase compared to July 2020 (12,083).
For all property types, the sales-to-active listings ratio for August 2020 is 23.8 per cent. By property type, the ratio is 23.7 per cent for detached homes, 30.5 per cent for townhomes, and 21.6 per cent for apartments.
Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.
“Low interest rates and limited overall supply of homes for sale are creating competition in today’s housing market,” Gerber said. “Your local REALTOR® can help you navigate today’s market and ensure that the latest public health requirements are followed at every step of the process. Above all, safety has to remain our top priority during this pandemic.”
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,038,700. This represents a 5.3 per cent increase over August 2019 and a 0.7 per cent increase compared to July 2020.
Sales of detached homes in August 2020 reached 1,095, a 55.1 per cent increase from the 706 detached sales recorded in August 2019. The benchmark price of a detached home is $1,491,300. This represents a 6.6 per cent increase from August 2019 and a one per cent increase compared to July 2020.
Sales of apartment homes reached 1,332 in August 2020, a 19.4 per cent increase compared to the 1,116 sales in August 2019. The benchmark price of an apartment property is $685,800. This represents a 4.5 per cent increase from August 2019 and a 0.5 per cent increase compared to July 2020.
Attached home sales in August 2020 totalled 620, a 51.6 per cent increase compared to the 409 sales in August 2019. The benchmark price of an attached home is $806,400. This represents a 4.4 per cent increase from August 2019 and a 1.1 per cent increase compared to July 2020.
* Areas covered by the Real Estate Board of Greater Vancouver include: Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.
Metro Vancouver housing market sees steady summer activity
Home buyer and seller activity in Metro Vancouver* exceeded historical levels in July.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,128 in July 2020, a 22.3 per cent increase from the 2,557 sales recorded in July 2019, and a 28 per cent increase from the 2,443 homes sold in June 2020.
Last month’s sales were 9.4 per cent above the 10-year July sales average.
There were 5,948 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in July 2020. This represents a 28.9 per cent increase compared to the 4,613 homes listed in July 2019 and a 2.8 per cent increase compared to June 2020 when 5,787 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 12,083, a 15.1 per cent decrease compared to July 2019 (14,240) and a 5.8 per cent increase compared to June 2020 (11,424).
“Safety remains the top priority for our REALTOR® community,” Gerber said. “We continue to limit in-person interactions with clients and employ different technology solutions to ensure home buyers and sellers can get as much information as possible in a virtual setting.”
For all property types, the sales-to-active listings ratio for July 2020 is 25.9 per cent. By property type, the ratio is 25.1 per cent for detached homes, 31.1 per cent for townhomes, and 24.7 per cent for apartments.
Generally, analysts say that downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,031,400. This represents a 4.5 per cent increase over July 2019 and a 0.6 per cent increase compared to June 2020.
Sales of detached homes in July 2020 reached 1,121, a 33.3 per cent increase from the 841 detached sales recorded in July 2019. The benchmark price for a detached home is $1,477,800. This represents a five per cent increase from July 2019 and a 0.9 per cent increase compared to June 2020.
Sales of apartment homes reached 1,400 in July 2020, a 12.6 per cent increase compared to the 1,243 sales in July 2019. The benchmark price of an apartment property is $682,500. This represents a 4.2 per cent increase from July 2019 and a 0.3 per cent increase compared to June 2020.
Attached home sales in July 2020 totalled 607, a 28.3 per cent increase compared to the 473 sales in July 2019. The benchmark price of an attached home is $797,700. This represents a 3.7 per cent increase from July 2019 and a 0.9 per cent increase compared to June 2020.
* Areas covered by the Real Estate Board of Greater Vancouver include: Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.
To keep you up to date with the Real Estate Listings in Whistler, here are links to all properties listed and sold in the last 7 days.
If you are interested in any of the properties or have any other questions, always feel free to contact us!
7 day new
7 day sold
7 day price change
By now most British Columbians have received their property assessments from BC Assessment. While most of the Lower Mainland saw a drop in values, Whistler properties held their values and in some cases went up, on average about five per cent.
The changes are not as dramatic as in past years but reflect the realities of the continued strong demand and limited supply in the Whistler market.
“Definitely Whistler has been a little bit different than the rest of the Lower Mainland … about minus five to about plus 10 (per cent) is where the majority of the properties will see changes to their assessment notice for this year,” said Brian Smith, BC Assessment’s deputy assessor for the Lower Mainland.
Assessed Value vs. Market Value – They are NOT the Same!
Every year around this time, I receive calls from people asking what their property assessments mean. This year, because most assessments have jumped up A LOT, I am receiving even more calls than usual. I am more than happy to discuss particular circumstances, however for the benefit of those of you with basic questions this is how your assessment is calculated. There are several factors that go into assessments. They are:
Timing – Property assessments are based on estimates of home / property values by BC Assessment made the previous July. This means that by the time the assessment is received they are already six months out of date. Conversely an assessment by a licensed realtor is done within a few days and provides a more accurate reflection of current value.
Information – In most cases the assessor does not visit the home or property assessed. Instead they look at standard fundamentals such as lot size, square footage, age of building etc. Assessors do not take into consideration other factors that may add or detract to a property’s value such as curb appeal, proximity to amenities etc . A realtor on the other hand will visit the property and look at comparable properties to provide a true value.
It’s important to keep in mind that the true value of your home is shown by comparable properties that have sold recently. For a TRUE value of your property, please contact me and I would be happy to provide you with that information. My role as a real estate advisor is to ensure you are getting the best advice possible. This includes whether or not the timing is right to realize your real estate goals. I am always happy to help and I am only a phone call away.
By now most British Columbians have received their property assessments from BC Assessment. While most of the Lower Mainland saw a drop in values, Whistler properties held their values and in some cases went up, on average about five per cent.
The changes are not as dramatic as in past years but reflect the realities of the continued strong demand and limited supply in the Whistler market.
“Definitely Whistler has been a little bit different than the rest of the Lower Mainland … about minus five to about plus 10 (per cent) is where the majority of the properties will see changes to their assessment notice for this year,” said Brian Smith, BC Assessment’s deputy assessor for the Lower Mainland.
Assessed Value vs. Market Value – They are NOT the Same!
Every year around this time, I receive calls from people asking what their property assessments mean. This year, because most assessments have jumped up A LOT, I am receiving even more calls than usual. I am more than happy to discuss particular circumstances, however for the benefit of those of you with basic questions this is how your assessment is calculated. There are several factors that go into assessments. They are:
Timing – Property assessments are based on estimates of home / property values by BC Assessment made the previous July. This means that by the time the assessment is received they are already six months out of date. Conversely an assessment by a licensed realtor is done within a few days and provides a more accurate reflection of current value.
Information – In most cases the assessor does not visit the home or property assessed. Instead they look at standard fundamentals such as lot size, square footage, age of building etc. Assessors do not take into consideration other factors that may add or detract to a property’s value such as curb appeal, proximity to amenities etc . A realtor on the other hand will visit the property and look at comparable properties to provide a true value.
It’s important to keep in mind that the true value of your home is shown by comparable properties that have sold recently. For a TRUE value of your property, please contact me and I would be happy to provide you with that information. My role as a real estate advisor is to ensure you are getting the best advice possible. This includes whether or not the timing is right to realize your real estate goals. I am always happy to help and I am only a phone call away.
Whistler Market Update
Here is my latest take on the Whistler real estate market, something I hope will help to fuel your Holiday real estate conversations.
Chalet Sales
Chalet sales are shaping up to be the same in 2019 as 2018 with approximately 100 single family homes sold. This represents a 25 per cent drop in the number of transactions pre-2018. In 2018, mortgage stress test policies were introduced with the intent of cooling off the real estate market. It appears to have had the intended effect in Whistler, since in past years (eg. in 2015, 2016 and 2017), approximately 150 homes would sell each year. Pricing however is still strong with a medium price for chalets of $2.225M in 2019 which is slightly down from 2018’s median price of $2.450M, but returning to the same historical highs of 2017.
Hot Ticket
Sales of properties that are zoned for nightly rental (the type you can AirBnB or hold as an investment property) have not cooled and are often seeing multiple offers and sales over asking. The best value can be found in three bedroom townhouses that are zoned for nightly rental specifically in the Benchlands – Blackcomb area. If you can buy one of these gems you should act quickly. Similarly to the chalet market, there has been a cooling off on pricing from the highs of 2018. The medium price of $755,000 is down to $723,000 a decrease of 4 per cent and the number of transactions has decreased from 341 to 271, representing a decrease of 21 per cent.
Tight Market Continues
In terms of inventory, the Whistler market continues to be very tight. Whistler today has approximately 300 listings. This is double what was available last December, however if you compare it to 2010 when inventory was around 800 listings, we are not over supplied. Inventory has consistently dropped since that time with January 2018 being the lowest with 155 listings. As always, buyers need to be prepared to act quickly to secure their Whistler dream home.
Additionally, demand for second homes among affluent buyers is heating up. According to a recent report by Luxury Portfolio International, the potential for luxury property has never been bigger. “Just in the last four years, personal wealth globally has grown by 15% and the number of high-net-worth-individuals has increased by 25%”. And resort properties are in the hottest demand because the can cater to the discerning lifestyles of these groups, where amenities and wellness are priorities. To read the whole article and report, click here.
Although it may appear that pricing and sales have softened in 2019, don’t be fooled. Remember the real estate Golden Rule for Whistler – values are always tied to inventory and in this market we do not ever get more product and that has been the case for 20 plus years. Whistler is all about supply and demand.
Current Listings
To view current luxury and unique home listings click here.
To view current chalet listings click here.
To view current townhome listings click here.
To view current hotel listings click here.
To view current vacant land listings click here.
To view current nightly rental (no restrictions) listings click here.
Please call me if you would like more information.
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This communication is not intended to cause or induce breach of existing agency agreement.Copyright © 2019 Macdonald Realty Whistler, All rights reserved.
In November 2019, Whistler had 13 sales of detached homes and 97 active listings. The benchmark sale price was $1,634,700.
The condo market had 17 sales and 106 active listings at the end of the month. The benchmark sale price was $499,300.
Townhome sales were 20 sales, active listings were 65. The benchmark sale price was $940,700.
It’s a buyer’s market for homes and condos.
To keep you up to date with the Real Estate Listings in Whistler, here are links to all properties listed and sold in the last 7 days.
If you are interested in any of the properties or have any other questions, always feel free to contact us!
To keep you up to date with the Real Estate Listings in Whistler, here are links to all properties listed and sold in the last 7 days.
If you are interested in any of the properties or have any other questions, always feel free to contact us!
7 day new
7 day sold
7 day price change
To keep you up to date with the Real Estate Listings in Whistler, here are links to all properties listed and sold in the last 7 days.
If you are interested in any of the properties or have any other questions, always feel free to contact us!
May sees modest increase in home sales while housing supply reaches five-year high
Monthly *Metro Vancouver1 home sales eclipsed 2,000 for the first time this year in May, although home buyer demand remains below historical averages.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,638 in May 2019, a 6.9 per cent decrease from the 2,833 sales recorded in May 2018, and a 44.2 per cent increase from the 1,829 homes sold in April 2019.
Last month’s sales were 22.9 per cent below the 10-year May sales average and was the lowest total for the month since 2000.
There were 5,861 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver last month. This represents an 8.1 per cent decrease compared to the 6,375 homes listed in May 2018 and a 2.1 per cent increase compared to April 2019 when 5,742 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 14,685, a 30 per cent increase compared to May 2018 (11,292) and a 2.3 per cent increase compared to April 2019 (14,357). This is the highest number of homes listed for sale since September 2014 (14,832).
“Whether you’re a buyer looking to make an offer or a seller looking to list your home, getting your pricing right is the key in today’s market,” Smith said. “To be competitive, it’s important to work with your local REALTOR® to assess and understand the latest trends in your neighbourhood and property type of choice.”
For all property types, the sales-to-active listings ratio for May 2019 is 18 per cent. By property type, the ratio is 14.2 per cent for detached homes, 20 per cent for townhomes, and 21.2 per cent for apartments.
Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.
*The MLS® Home Price Index2 composite benchmark price for all residential homes in Metro Vancouver is currently $1,006,400. This represents an 8.9 per cent decrease over May 2018, a 3.4 per cent decrease over the past six months, and a 0.4 per cent decrease compared to April 2019.
Sales of detached homes in May 2019 reached 913, a 1.4 per cent decrease from the 926 detached sales recorded in May 2018. The benchmark price for a detached home in the region is $1,421,900. This represents an 11.5 per cent decrease from May 2018, a 5.4 per cent decrease over the past six months, and a 0.5 per cent decrease compared to April 2019.
Sales of apartment homes reached 1,246 in May 2019, a 12.9 per cent decrease compared to the 1,431 sales in May 2018. The benchmark price of an apartment property is $664,200. This represents a 7.3 per cent decrease from May 2018, a two per cent decrease over the past six months, and a 0.5 per cent decrease compared to April 2019.
Attached home sales in May 2019 totalled 479, a 0.6 per cent increase compared to the 476 sales in May 2018. The benchmark price of an attached unit is $779,400. This represents a 7.6 per cent decrease from May 2018, a 3.5 per cent decrease over the past six months, and a 0.6 per cent increase compared to April 2019.
To keep you up to date with the Real Estate Listings in Whistler, here are links to all properties listed and sold in the last 7 days.
If you are interested in any of the properties or have any other questions, always feel free to contact us!
New listings in the last 7 days
Sold listings in the last 7 days
Price changes in the last 7 days
To keep you up to date with the Real Estate Listings in Whistler, here are links to all properties listed and sold in the last 7 days.
If you are interested in any of the properties or have any other questions, always feel free to contact us!
New listings in the last 7 days
Sold listings in the last 7 days
Price changes in the last 7 days
To keep you up to date with the Real Estate Listings in Whistler, here are links to all properties listed and sold in the last 7 days.
If you are interested in any of the properties or have any other questions, always feel free to contact us!
New listings in the last 7 days
Sold listings in the last 7 days
Price changes in the last 7 days
Reduced demand and increased supply remain the trend across Metro Vancouver’s housing market
Decreased demand continues to allow the supply of homes for sale to accumulate across the Metro Vancouver* housing market.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,829 in April 2019, a 29.1 per cent decrease from the 2,579 sales recorded in April 2018, and a 5.9 per cent increase from the 1,727 homes sold in March 2019.
Last month’s sales were 43.1 per cent below the 10-year April sales average.
“Government policy continues to hinder home sale activity. The federal government’s mortgage stress test has reduced buyers’ purchasing power by about 20 per cent, which is causing people at the entry-level side of the market to struggle to secure financing.. Suppressing housing activity through government policy not only reduces home sales, it harms the job market, economic growth and creates pent-up demand.”
There were 5,742 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in April 2019. This represents a 1.3 per cent decrease compared to the 5,820 homes listed in April 2018 and a 16 per cent increase compared to March 2019 when 4,949 homes were listed.
The total number of homes currently listed for sale on the MLS® in Metro Vancouver is 14,357, a 46.2 per cent increase compared to April 2018 (9,822) and a 12.4 per cent increase compared to March 2019 (12,774).
“There are more homes for sale in our market today than we’ve seen since October 2014. This trend is more about reduced demand than increased supply,” Smith said. “The number of new listings coming on the market each month are consistent with our long-term averages. It’s the reduced sales activity that’s allowing listings to accumulate.”
The overall sales-to-active listings ratio for April 2019 is 12.7 per cent. By property type, the ratio is 9.4 per cent for detached homes, 15.4 per cent for townhomes, and 15.3 per cent for apartments.
Generally, analysts say downward pressure on home prices occurs when the ratio dips below 12 per cent for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,008,400. This represents an 8.5 per cent decrease over April 2018, and a 0.3 per cent decrease compared to March 2019.
Detached home sales totalled 586 in April 2019, a 27.4 per cent decrease from the 807 detached sales in April 2018. The benchmark price for a detached home is $1,425,200. This represents an 11.1 per cent decrease from April 2018, a 0.8 per cent decrease compared to March 2019.
Apartment home sales totalled 885 in April 2019, a 32.3 per cent decrease compared to the 1,308 sales in April 2018. The benchmark price of an apartment is $656,900 in the region. This represents a 6.9 per cent decrease from April 2018 and is unchanged from March 2019.
Attached home sales totalled 358 in April 2019, a 22.8 per cent decrease compared to the 464 sales in April 2018. The benchmark price of an attached home is $783,300. This represents a 7.5 per cent decrease from April 2018 and is unchanged from March 2019.
*Areas covered by the Real Estate Board of Greater Vancouver include: Burnaby, Coquitlam, Maple Ridge, New Westminster, North Vancouver, Pitt Meadows, Port Coquitlam, Port Moody, Richmond, South Delta, Squamish, Sunshine Coast, Vancouver, West Vancouver, and Whistler.
To keep you up to date with the Real Estate Listings in Whistler, here are links to all properties listed and sold in the last 7 days.
If you are interested in any of the properties or have any other questions, always feel free to contact us!
New listings in the last 7 days
Sold listings in the last 7 days
Price changes in the last 7 days
To keep you up to date with the Real Estate Listings in Whistler, here are links to all properties listed and sold in the last 7 days.
If you are interested in any of the properties or have any other questions, always feel free to contact us!
New listings in the last 7 days
Sold listings in the last 7 days
Price changes in the last 7 days
To keep you up to date with the Real Estate Listings in Whistler, here are links to all properties listed and sold in the last 7 days.
If you are interested in any of the properties or have any other questions, always feel free to contact us!
New listings in the last 7 days
Sold listings in the last 7 days
Price changes in the last 7 days
This report shows benchmark prices for properties in Whistler, based on MLS statistics. The HPI benchmarks represent the price of a typical property within the market. It takes into consideration what averages and medians do not – items such as lot size, age, number of rooms, etc. These features become the composite of the ‘typical house’ in a given area. Each month’s sales determine the current prices paid for bedrooms, bathrooms, fireplaces, etc. and apply those new values to the ‘typical’ house model.
If you would like to learn more about benchmark prices, follow this link for some great information.
To keep you up to date with the Real Estate Listings in Whistler, here are links to all properties listed and sold in the last 7 days.
If you are interested in any of the properties or have any other questions, always feel free to contact us!
New listings in the last 7 days
Sold listings in the last 7 days
Price changes in the last 7 days
Article from The Daily Hive Vancouver
Ever since an environmental approval from the provincial government in 2016 was granted, there has been ample progress and movement on the planned Garibaldi at Squamish ski resort on the slopes of Brohm Ridge — an area about five minutes north of Squamish, located on the east side of the Sea-to-Sky Highway.
A detailed draft conceptual master plan of the $3.5-billion, all-season resort, addressing many of the 40 environmental approval conditions, recently entered a new round of public consultation.
The development is funded and spearheaded by NHL Vancouver Canucks-owners Aquilini Investment Group and Northland Properties Corporation, which owns the NHL Dallas Stars, Sutton Place Hotels, Denny’s Canada, Moxie’s Grill & Bar, and Shark Club.
In order to proceed, the project needs to undergo further consultation with the District of Squamish on extending its jurisdictional boundaries so that the district government reaps the tax benefits of the development. It also needs the provincial government’s Mountain Resorts Branch to approve a master development agreement for the use of the public land.
Conceptual artistic rendering of Garibaldi at Squamish ski resort. (Garibaldi at Squamish)
Views of Squamish and Howe Sound from Garibaldi at Squamish ski resort. (Garibaldi at Squamish)
More ski trails than all three North Shore mountains combined
If all goes as planned, the first phase of four phases of ski resort construction could begin in 2023 to allow for an opening in 2025. The remaining phases would be complete over a timeline ending at 2040.
One of the individuals leading the charge is Rod MacLeod, Garibaldi at Squamish’s vice-president for planning — an industry veteran with constructing resort infrastructure across North America, and the former manager of mountain planning and projects for Whistler. He was also with VANOC for six years as the project manager for the mountain venues at Whistler and Cypress.
He described the resort’s size as something that is between the North Shore ski hills and Whistler Blackcomb.
“The resort will in all cases be in between the North Shore areas and Whistler. It will be bigger in size than the North Shore but smaller than Whistler, more expensive than the local hills but much less than Whistler, and offer more terrain than the North Shore but less than Whistler,” MacLeod told Daily Hive.
The first phase alone would create a fully-functional, mid-sized mountain resort with 610 acres of skiable and eight lifts, with a capacity for about 4,000 visitors, supported by nearly 1,000 staff and 5,000 beds.
By 2040, the resort’s ultimate size with the final phase will reach 1,635 acres of skiable terrain on 131 trails, 21 lifts, 17,538 visitor capacity, 3,045 staff, and close to 22,000 beds (equivalent to 1,300 hotel rooms, 2,214 condominium units, 840 townhome units, and 1,184 single-family dwellings). The construction of further phases is dependent on the success of the first phase.
In contrast, all three North Shore mountains combined have 1,012 acres of skiable terrain, with Cypress Mountain containing 600 acres, Grouse Mountain with 212 acres, and Mount Seymour with 200 acres. Whistler Blackcomb’s two mountains boasts 8,171 acres, making it North America’s largest ski resort.
Conceptual ski trail map of Garibaldi at Squamish ski resort. (Garibaldi at Squamish)
Conceptual aerial lift map of Garibaldi at Squamish ski resort. (Garibaldi at Squamish)
Dedicated housing for resort staff and Main Village
The surreal size of the resort also means it will be a huge employer in the area. Providing affordable employee housing has also been identified as a priority, and to that end 12.5% of the resort’s beds will be for employees — above the provincial government’s required condition of at least 10%. This will be sufficient to accommodate about 70% of the planned workforce.
“These beds will be a mix of seasonal apartment rentals up to homes that long term staff can own. If Squamish is our local government we commit to being part of whatever solutions they decide to move forward with,” said MacLeod.
“Many of these staff are people that currently commute, or are about to move into one of the many new housing units in town and will be commuting. We will be able to offer them a job and a home.”
Conceptual artistic rendering of Garibaldi at Squamish ski resort. (Garibaldi at Squamish)
Amidst concerns over growing traffic volumes on the Sea-to-Sky corridor, transportation is another component resort planners are working on, and travel within the resort itself will not require a car.
MacLeod says 84% of the beds will be walkable, skiable or bikeable to lifts and trails, and there will be bus service between Squamish and the resort for staff and guests. The resort is expected to see about 8,000 visitors per day; about 5,000 day-use visitors will arrive by car and the remainder will be on inter-resort shuttle, public transit, or charter bus.
“In order to be successful we have to be part of the solution of getting cars off of the highway and encouraging alternate transport,” he said.
Artistic rendering of the Main Village area of Garibaldi at Squamish ski resort. (Garibaldi at Squamish)
Artistic rendering of the Main Village area of Garibaldi at Squamish ski resort. (Garibaldi at Squamish)
The full resort area covers 6,200 acres, including significant areas that were previously logged, but just 1,542 acres will be used for mountain recreation facilities, 1,300 acres will be used for base area hotel and housing development, and the remaining majority of over 3,300 acres will be undisturbed.
Some changes to the plan have moved a significant 62-acre Main Village — oriented around a pedestrian-only spine, complete with hotels and 250,000-sq-ft of retail, restaurants (5,300 seats), and amenities and services — up to an elevation of 1,100 metres, which is the same elevation as the top of the Grouse Mountain Skyride and mid-mountain on the Whistler Village side.
Artistic rendering of the Main Village area of Garibaldi at Squamish ski resort. (Garibaldi at Squamish)
Artistic rendering of the Main Village area of Garibaldi at Squamish ski resort. (Garibaldi at Squamish)
Other attractions to become a year-round destination
MacLeod also says the proposed golf courses have been removed, and the new resort area is about half as large as the previous concept and avoids any impact on nearby lakes. Amenities that are being planned include a bike park that offers both family and intermediate areas, operating year-round on the lower elevation slopes.
Other potential amenities and attractions that could entail snow tubing, ice skating, alpine roller coaster, indoor activity centre, climbing walls, mini golf, disc golf, and sleigh rides. Similar to Whistler, and unlike Big White, there will be ample activities and programming to keep the resort active and vibrant during the summer months.
Access to mountain recreation activities of skiing, biking, and hiking will be accessed from two main base portals, including the Main Village and a South Portal. A third smaller North Portal will be for guests at local accommodations within the northwest corner of the resort.
Draft plan of the Main Village area of Garibaldi at Squamish ski resort. (Garibaldi at Squamish)
Draft plan of the base area of Garibaldi at Squamish ski resort. (Garibaldi at Squamish)
Altogether, the base area resort will have nine parcels that organize the resort based on the differing uses. The most concentrated parcels are located at the base of mountain ski lifts, while the less concentrated parcels are along primary roads that connect concentration zones.
MacLeod says a new round of public consultation began last summer, and his team has received an “overwhelming” number of responses being positive.
“There have been hundreds of young families move to Squamish over the last few years and they would love to have this recreational opportunity available for their kids as soon as possible,” he said.
“They would also like to quit commuting north or south to go to work, and then in many cases commute again on the weekend to go skiing/snowboarding with the family.”
The resort’s location-based name is currently a placeholder until a new name, created in collaboration with project partners Squamish First Nation, is announced later this year.
Phased plan of Garibaldi at Squamish ski resort. (Garibaldi at Squamish)
To keep you up to date with the Real Estate Listings in Whistler, here are links to all properties listed and sold in the last 7 days.
If you are interested in any of the properties or have any other questions, always feel free to contact us!
New listings in the last 7 days
Sold listings in the last 7 days
Price changes in the last 7 days
To keep you up to date with the Real Estate Listings in Whistler, here are links to all properties listed and sold in the last 7 days.
If you are interested in any of the properties or have any other questions, always feel free to contact us!
New listings in the last 7 days
Sold listings in the last 7 days
Price changes in the last 7 days
In the Whistler market, the benchmark sale price was $1,705,000 with an average days on market of 103 days for detached homes. At the end of the month, there were 6 sales and 86 active listings.
In comparison, the condo market had 17 sales and 99 active listings. The benchmark sale price was $506,000 and the average days on market were 39.
Townhome featured 8 sales, 65 active listings and a $872,400 benchmark sale price with 43 days on market average.
It’s a buyer’s market for homes and townhomes.
This report shows benchmark prices for properties in Whistler, based on MLS statistics. The HPI benchmarks represent the price of a typical property within the market. It takes into consideration what averages and medians do not – items such as lot size, age, number of rooms, etc. These features become the composite of the ‘typical house’ in a given area. Each month’s sales determine the current prices paid for bedrooms, bathrooms, fireplaces, etc. and apply those new values to the ‘typical’ house model.
If you would like to learn more about benchmark prices, follow this link for some great information.
To keep you up to date with the Real Estate Listings in Whistler, here are links to all properties listed and sold in the last 7 days.
If you are interested in any of the properties or have any other questions, always feel free to contact us!
New listings in the last 7 days
Sold listings in the last 7 days
Price changes in the last 7 days
To keep you up to date with the Real Estate Listings in Whistler, here are links to all properties listed and sold in the last 7 days.
If you are interested in any of the properties or have any other questions, always feel free to contact us!
New listings in the last 7 days
Sold listings in the last 7 days
Price changes in the last 7 days
To keep you up to date with the Real Estate Listings in Whistler, here are links to all properties listed and sold in the last 7 days.
If you are interested in any of the properties or have any other questions, always feel free to contact us!
New listings in the last 7 days
Sold listings in the last 7 days
Price changes in the last 7 days
We have been busy with assessments. Many homeowners are calling as numerous assessments now exceed market value. The first quarter of 2018 was definitely the peak of the market and prices quickly retracted about 10 percent. Last year at this time, we hit a record for lack of inventory with only 140 listings on the market. Today our inventory has since doubled with 280 listings. Bear in mind, this is still a historical low as the highest inventory was in 2012 with over 1000 properties listed for sale. We still may be showing signs of a further cooling off as the sales are down half of what they were last year. In the last 30 days there have been 27 sales and in the same period (12 months ago) we had double the transactions of 61 sales. In summary, listings have doubled as sales have dropped in half. This may just bring some sort of normalcy back to the market. Time will tell.
In the Whistler market, the benchmark sale price was $1,699,500 with an average days on market of 47 days for detached homes. At the end of the month, there were 2 sales and 72 active listings.
In comparison, the condo market had 10 sales and 82 active listings. The benchmark sale price was $496,900 and the average days on market were 36.
Townhome featured 7 sales, 46 active listings and a $882,000 benchmark sale price with 28 days on market average.
It’s a buyer’s market in Whistler.
This report shows benchmark prices for properties in Whistler, based on MLS statistics. The HPI benchmarks represent the price of a typical property within the market. It takes into consideration what averages and medians do not – items such as lot size, age, number of rooms, etc. These features become the composite of the ‘typical house’ in a given area. Each month’s sales determine the current prices paid for bedrooms, bathrooms, fireplaces, etc. and apply those new values to the ‘typical’ house model.
If you would like to learn more about benchmark prices, follow this link for some great information.
Metro Vancouver home sales decline below historical averages in 2018
Metro Vancouver* home sales in 2018 were the lowest annual total in the region since 2000.
The Real Estate Board of Greater Vancouver (REBGV) reports that sales of detached, attached and apartment properties reached 24,619 on the Multiple Listing Service® (MLS®) in 2018, a 31.6 per cent decrease from the 35,993 sales recorded in 2017, and a 38.4 per cent decrease compared to the 39,943 residential sales in 2016.
Last year’s sales total was 25 per cent below the region’s 10-year sales average.
“This past year has been a transition period for the Metro Vancouver housing market away from the sellers’ market conditions we experienced in previous years,” Phil Moore, REBGV president said. “High home prices, rising interest rates and new mortgage requirements and taxes all contributed to the market conditions we saw in 2018.”
Home listings in Metro Vancouver reached 53,614 in 2018. This is a 1.9 per cent decrease compared to 54,655 homes listed in 2017 and a 6.9 per cent decrease compared to the 57,596 homes listed in 2016.
“The supply of homes for sale will be an important indicator to follow in 2019. We’ve had record building activity in recent years and many projects will complete soon. This will provide additional housing options for home buyers across the region,” Moore said.
The MLS® HPI composite benchmark price for all residential homes in Metro Vancouver ends the year at $1,032,400. This is a 2.7 per cent decrease compared to December 2017.
“As the total supply of homes for sale began to accumulate in the spring, we began to see downward pressure on prices across all home types throughout the latter half of the year,” Moore said.
The benchmark price of detached homes in the region declined 7.8 per cent over the last 12 months and 7.3 per cent since June 2018. Apartment homes increased 0.6 per cent over the last 12 months and have declined 6.4 per cent since June 2018. The benchmark price for townhomes in Metro Vancouver have increased 1.3 per cent since December 2017 and have decreased 5.3 per cent over the last six months.
December summary
REBGV reports that residential home sales in the region totalled 1,072 in December 2018, a 46.8 per cent decrease from the 2,016 sales recorded in December 2017, and a 33.3 per cent decrease from November 2018 when 1,608 homes sold.
Last month’s sales were 43.3 per cent below the 10-year December sales average.
There were 1,407 detached, attached and apartment homes newly listed for sale on the MLS® in Metro Vancouver in December 2018. This represents a 25.6 per cent decrease compared to the 1,891 homes listed in December 2017 and a 59.3 per cent decrease compared to November 2018 when 3,461 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 10,275, a 47.7 per cent increase compared to December 2017 (6,958) and a 16.5 per cent decrease compared to November 2018 (12,307).
For all property types, the sales-to-active listings ratio for December 2018 is 10.4 per cent. By property type, the ratio is 7.1 per cent for detached homes, 12 per cent for townhomes, and 14.2 per cent for apartments.
Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.
Sales of detached homes in December 2018 reached 348, a 43.6 per cent decrease from the 617 detached sales recorded in December 2017. The benchmark price for a detached home is $1,479,000. This represents a 7.8 per cent decrease from December 2017 and a 1.4 per cent decrease compared to November 2018.
Sales of apartment homes reached 535 in December 2018, a 34 per cent decrease compared to the 1,028 sales in December 2017. The benchmark price of an apartment home is $664,100. This represents a 0.6 per cent increase from December 2017 and a 0.6 per cent decrease compared to November 2018.
Attached home sales in December 2018 totalled 189, a 49.1 per cent decrease compared to the 371 sales in December 2017. The benchmark price of an attached home is $809,700. This represents a 1.3 per cent increase from December 2017 and a 1.1 per cent decrease compared to November 2018.
Download the December 2018 stats package
Metro Vancouver homes sales down across all property types
Home buyer demand remains below long-term historical averages in the Metro Vancouver* housing market.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales totalled 1,608 in the region in November 2018, a 42.5 per cent decrease from the 2,795 sales recorded in November 2017, and an 18.2 per cent decrease compared to October 2018 when 1,966 homes sold.
Last month’s sales were 34.7 per cent below the 10-year November sales average and was the lowest sales for the month since 2008.
“Home buyers have been taking a wait-and-see approach for most of 2018. This has allowed the number of homes available for sale in the region to return to more typical historical levels,” Phil Moore, REBGV president said. “This activity is helping home prices edge down, across all property types, from the record highs we’ve experienced over the last year.”
There were 3,461 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in November 2018. This represents a 15.8 per cent decrease compared to the 4,109 homes listed in November 2017 and a 29 per cent decrease compared to October 2018 when 4,873 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 12,307, a 40.7 per cent increase compared to November 2017 (8,747) and a 5.2 per cent decrease compared to October 2018 (12,984).
For all property types, the sales-to-active listings ratio for November 2018 is 13.1 per cent. By property type, the ratio is 8.9 per cent for detached homes, 14.7 per cent for townhomes, and 17.6 per cent for apartments.
Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.
“Home prices have declined between four and seven per cent over the last six months depending on property type. We’ll watch conditions in the first quarter of 2019 to see if home buyer demand picks up ahead of the traditionally more active spring market,” Moore said.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,042,100. This represents a 1.4 per cent decrease over November 2017 and a 1.9 per cent decrease compared to October 2018.
Detached home sales in November 2018 reached 516, a 38.6 per cent decrease from the 841 detached sales recorded in November 2017. The benchmark price for detached homes is $1,500,100. This represents a 6.5 per cent decrease from November 2017 and a 1.6 per cent decrease compared to October 2018.
Apartment home sales reached 810 in November 2018, a 46.3 per cent decrease compared to the 1,508 sales in November 2017. The benchmark price of an apartment property is $667,800. This represents a 2.3 per cent increase from November 2017 and a 2.3 per cent decrease compared to October 2018.
Attached home sales in November 2018 totalled 282, a 36.8 per cent decrease compared to the 446 sales in November 2017. The benchmark price of an attached home is $818,500. This represents a 2.6 per cent increase from November 2017 and a 1.3 per cent decrease compared to October 2018.
Download the November 2018 stats package
In the Whistler market, the benchmark sale price was $1,701,800 with an average days on market of 133 days for detached homes. At the end of the month, there were 9 sales and 67 active listings.
In comparison, the condo market had 24 sales and 81 active listings. The benchmark sale price was $511,500 and the average days on market were 31.
Townhome featured 14 sales, 51 active listings and a $907,200 benchmark sale price with 47 days on market average.
It’s a seller’s market for condos and townhomes.
These stats are based on MLS data.
To keep you up to date with the Real Estate Listings in Whistler, here are links to all properties listed and sold in the last 7 days.
If you are interested in any of the properties or have any other questions, always feel free to contact us!
New listings in the last 7 days
Home buyer demand stays below historical averages in August
The Metro Vancouver* housing market continues to experience reduced demand across all housing types.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,929 in August 2018, a 36.6 per cent decrease from the 3,043 sales recorded in August 2017, and a 6.8 per cent decline compared to July 2018 when 2,070 homes sold.
Last month’s sales were 25.2 per cent below the 10-year August sales average.
“Home buyers have been less active in recent months and we’re beginning to see prices edge down for all housing types as a result,” Phil Moore, REBGV president said. “Buyers today have more listings to choose from and face less competition than we’ve seen in our market in recent years.”
There were 3,881 detached, attached and apartment homes newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in August 2018. This represents an 8.6 per cent decrease compared to the 4,245 homes listed in August 2017 and an 18.6 per cent decrease compared to July 2018 when 4,770 homes were listed.
The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 11,824, a 34.3 per cent increase compared to August 2017 (8,807) and a 2.6 per cent decrease compared to July 2018 (12,137).
The sales-to-active listings ratio for August 2018 is 16.3 per cent. By housing type, the ratio is 9.2 per cent for detached homes, 19.4 per cent for townhomes, and 26.6 per cent for apartments.
Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.
“With fewer buyers active in the market, benchmark prices across all three housing categories have declined for two consecutive months across the region,” Moore said.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,083,400. This represents a 4.1 per cent increase over August 2017 and a 1.9 per cent decrease since May 2018.
Sales of detached properties in August 2018 reached 567, a 37.1 per cent decrease from the 901 detached sales recorded in August 2017. The benchmark price for detached properties is $1,561,000. This represents a 3.1 per cent decrease from August 2017 and a 2.8 per cent decrease since May 2018. Sales of apartment properties reached 1,025 in August 2018, 36.5 per cent decrease compared to the 1,613 sales in August 2017. The benchmark price of an apartment property is $695,500. This represents a 10.3 per cent increase from August 2017 and a 1.6 per cent decrease since May 2018.
Attached property sales in August 2018 totalled 337, a 36.3 per cent decrease compared to the 529 sales in August 2017. The benchmark price of an attached unit is $846,100. This represents a 7.9 per cent increase from August 2017 and a 0.8 per cent decrease since May 2018.
Download the August 2018 stats package
*Note: Areas covered by the Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, Pitt Meadows, Maple Ridge, and South Delta.
To keep you up to date with the Real Estate Listings in Whistler, here are links to all properties listed and sold in the last 7 days.
If you are interested in any of the properties or have any other questions, always feel free to contact us!
New listings in the last 7 days
To keep you up to date with the Real Estate Listings in Whistler, here are links to all properties listed and sold in the last 7 days.
If you are interested in any of the properties or have any other questions, always feel free to contact us!
New listings in the last 7 days
July’s residential housing sales in Metro Vancouver* reached their lowest levels for that month since the year 2000.
The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales in the region totalled 2,070 in July 2018, a 30.1 per cent decrease from the 2,960 sales recorded in July 2017, and a decrease of 14.6 per cent compared to June 2018 when 2,425 homes sold.
Last month’s sales were 29.3 per cent below the 10-year July sales average.
“With fewer buyers active in today’s market, we’re seeing less upward pressure on home prices across the region,” Phil Moore, REBGV president said. “This is most pronounced in the detached home market, but demand in the townhome and apartment markets is also relenting from the more frenetic pace experienced over the last few years.”
There were 4,770 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in July 2018. This represents a 9.2 per cent decrease compared to the 5,256 homes listed in July 2017 and a 9.6 per cent decrease compared to June 2018 when 5,279 homes were listed.
The total number of properties currently listed for sale on the MLS® system in Metro Vancouver is 12,137, a 32 per cent increase compared to July 2017 (9,194) and a 1.6 per cent increase compared to June 2018 (11,947).
“Summer is traditionally a quieter time of year in real estate. This is particularly true this year,” Moore said. “With increased mortgage rates and stricter lending requirements, buyers and sellers are opting to take a wait-and-see approach for the time being.”
For all property types, the sales-to-active listings ratio for July 2018 is 17.1 per cent. By property type, the ratio is 9.9 per cent for detached homes, 20.2 per cent for townhomes, and 27.3 per cent for condominiums.
Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12 per cent mark for a sustained period, while home prices often experience upward pressure when it surpasses 20 per cent over several months.
The MLS® Home Price Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,087,500. This represents a 6.7 per cent increase over July 2017 and a 0.6 per cent decrease compared to June 2018.
Sales of detached properties in July 2018 reached 637, a decrease of 32.9 per cent from the 949 detached sales recorded in July 2017. The benchmark price for detached properties is $1,588,400. This represents a 1.5 per cent decrease from July 2017 and a 0.6 per cent decrease compared to June 2018.
Sales of apartment properties reached 1,079 in July 2018, a decrease of 26.5 per cent compared to the 1,468 sales in July 2017. The benchmark price of an apartment property is $700,500. This represents a 13.6 per cent increase from July 2017 and a 0.5 per cent decrease compared to June 2018.
Attached property sales in July 2018 totalled 354, a decrease of 34.8 per cent compared to the 543 sales in July 2017. The benchmark price of an attached unit is $856,000. This represents a 12.1 per cent increase from July 2017 and a 0.4 per cent decrease compared to June 2018.
Click here for the full June 2018 stats package
*Note: Areas covered by the Real Estate Board of Greater Vancouver include: Whistler, Sunshine Coast, Squamish, West Vancouver, North Vancouver, Vancouver, Burnaby, New Westminster, Richmond, Port Moody, Port Coquitlam, Coquitlam, Pitt Meadows, Maple Ridge, and South Delta.
To keep you up to date with the Real Estate Listings in Whistler, here are links to all properties listed and sold in the last 7 days.
If you are interested in any of the properties or have any other questions, always feel free to contact us!
New listings in the last 7 days
In the Whistler market, the benchmark sale price was $1,672,000 with an average days on market of 67 days for detached homes. At the end of the month, there were 7 sales and 50 active listings on the REBGV MLS® (excludes Whistler Listing System numbers).
In comparison, the condo market had 32 sales and 71 active listings. The benchmark sale price was $535,300, and the average days on market were 26.
Townhome featured 24 sales, 39 active listings and a $1,010,400 benchmark sale price with 28 days on market average
It’s a seller’s market for condos and townhomes.
The report below shows benchmark prices for properties in Whistler. The HPI benchmarks represent the price of a typical property within the market. It takes into consideration what averages and medians do not – items such as lot size, age, number of rooms, etc. These features become the composite of the ‘typical house’ in a given area. Each month’s sales determine the current prices paid for bedrooms, bathrooms, fireplaces, etc. and apply those new values to the ‘typical’ house model.
If you would like to learn more about benchmark prices, follow this link for some great information.
About Shauna
As an agent with the largest realtor network in Canada, Macdonald Realty, Shauna O’Callaghan, works locally on a national scale. Shauna’s excellent reputation is the result of unparalleled respect for clients and market smarts.
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