Vancouver Market Report | July 2022

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Home buyer demand continues to ease across Metro Vancouver


Metro Vancouver’s* housing market has entered a new cycle marked by quieter home buyer demand and a gradual rise in the supply of homes for sale.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 1,887 in July 2022, a 43.3 per cent decrease from the 3,326 sales recorded in July 2021, and a 22.8 per cent decrease from the 2,444 homes sold in June 2022.

Last month’s sales were 35.2 per cent below the 10-year July sales average.

“Home buyers are exercising more caution in today’s market in response to rising interest rates and inflationary concerns,” Daniel John, REBGV Chair said. “This allowed the selection of homes for sale to increase and prices to edge down in the region over the last three months.”

There were 3,960 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in July 2022. This represents a 9.5 per cent decrease compared to the 4,377 homes listed in July 2021 and a 24.7 per cent decrease compared to June 2022 when 5,256 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 10,288, a 4.4 per cent increase compared to July 2021 (9,850) and a 1.3 per cent decrease compared to June 2022 (10,425).

“After two years of market conditions that favoured home sellers, home buyers now have more selection to choose from and more time to make their decision,” John said. “In today’s changing housing market, both home buyers and sellers should invest the time to understand what these changes mean for their personal circumstances.”

For all property types, the sales-to-active listings ratio for July 2022 is 18.3 per cent. By property type, the ratio is 11.8 per cent for detached homes, 20 per cent for townhomes, and 24.5 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 $1,207,400. This represents a 10.3 per cent increase over July 2021 and a 2.3 per cent decrease compared to June 2022.

Sales of detached homes in July 2022 reached 523, a 50.2 per cent decrease from the 1,050 detached sales recorded in July 2021. The benchmark price for a detached home is $2,000,600. This represents an 11 per cent increase from July 2021 and a 2.8 per cent decrease compared to June 2022.

Sales of apartment homes reached 1,060 in July 2022, a 36.4 per cent decrease compared to the 1,666 sales in July 2021. The benchmark price of an apartment home is $755,000. This represents an 11.4 per cent increase from July 2021 and a 1.5 per cent decrease compared to June 2022.

Attached home sales in July 2022 totalled 304, a 50.2 per cent decrease compared to the 610 sales in July 2021. The benchmark price of an attached home is $1,096,500. This represents a 15.8 per cent increase from July 2021 and a 1.7 per cent decrease compared to June 2022. -30

 

 

 

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Vancouver Market Report | June 2022

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Home listings up, sales down and prices starting to decrease


With interest rates and housing supply increasing, Metro Vancouver* home buyers are operating in a changing marketplace to begin the summer season.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,444 in June 2022, a 35 per cent decrease from the 3,762 sales recorded in June 2021, and a 16.2 per cent decrease from the 2,918 homes sold in May 2022.

Last month’s sales were 23.3 per cent below the 10-year June sales average.

“Home buyers have more selection to choose from and more time to make decisions than they did over the past year. Rising interest rates and inflationary concerns are making buyers more cautious in today’s housing market, which is allowing listings to accumulate.”

Daniel John, Chair, Real Estate Board of Greater Vancouver

There were 5,256 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in June 2022. This represents a 10.1 per cent decrease compared to the 5,849 homes listed in June 2021 and a 17.6 per cent decrease compared to May 2022 when 6,377 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 10,425, a 3.8 per cent decrease compared to June 2021 (10,839) and a 4.1 per cent increase compared to May 2022 (10,010).

“We’re seeing downward pressure on home prices as we enter summer in Metro Vancouver due to declining home buyer activity, not increased supply,” John said. “To meet Metro Vancouver’s long-term housing demands, we still need to significantly increase housing supply.”

For all property types, the sales-to-active listings ratio for June 2022 is 23.4 per cent. By property type, the ratio is 14.3 per cent for detached homes, 31.5 per cent for townhomes, and 30.2 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 Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,235,900. This represents a 12.4 per cent increase over June 2021, a two per cent decrease compared to May 2022, and a 2.2 per cent decrease over the past three months.

Sales of detached homes in June 2022 reached 653, a 48.3 per cent decrease from the 1,262 detached sales recorded in June 2021. The benchmark price for a detached home is $2,058,600. This represents a 13.4 per cent increase from June 2021, a 1.7 per cent decrease compared to May 2022, and a 1.8 per cent decrease over the past three months.

Sales of apartment homes reached 1,326 in June 2022, a 25.3 per cent decrease compared to the 1,774 sales in June 2021. The benchmark price of an apartment home is $766,300. This represents a 12.7 per cent increase from June 2021, a 1.7 per cent decrease compared to May 2022, and a 0.8 per cent decrease over the past three months.

Attached home sales in June 2022 totalled 465, a 36 per cent decrease compared to the 726 sales in June 2021. The benchmark price of an attached home is $1,115,600. This represents a 17.8 per cent increase from June 2021, a 2.2 per cent decrease compared to May 2022, and a 2.7 per cent decrease over the past three months.

 

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Vancouver Market Report | May 2022

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Spring ushers in calmer housing market trends in Metro Vancouver


After reaching record-setting levels in 2021, home sale
activity has returned to more typical seasonal levels in Metro Vancouver* this spring due, in large part, to rising interest rates.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,918 in May 2022, a 31.6 per cent decrease from the 4,268 sales recorded in May 2021, and a 9.7 per cent decrease from the 3,232 homes sold in April 2022.

Last month’s sales were 12.9 per cent below the 10-year May sales average.

“With interest rates rising, home buyers are taking more time to make their decisions in today’s housing market,” said Daniel John, REBGV Chair. “Home buyers have been operating in a
frenzied environment for much of the past two years. This spring is providing a calmer environment, with fewer multiple offer situations, which is allowing buyers to explore their housing options, understand the changing mortgage market, and do their due diligence.”

There were 6,377 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in May 2022. This represents a 10.5 per
cent decrease compared to the 7,125 homes listed in May 2021 and a 4.4 per cent increase compared to April 2022 when 6,107 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 10,010, an 8.8 per cent decrease compared to May 2021 (10,970) and a 13.8 per cent increase
compared to April 2022 (8,796).

For all property types, the sales-to-active listings ratio for May 2022 is 29.2 per cent. By property type, the ratio is 18.3 per cent for detached homes, 35.5 per cent for townhomes, and
38.1 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* (See editor’s note #2) composite benchmark price for all residential properties in Metro Vancouver is currently $1,261,1001 . This represents a 14.7 per cent increase over May 2021 and a 0.3 per cent decrease compared to April 2022.

“Upward pressure on home prices has begun to ease in the housing market over the last two months,” John said. “Where home prices go next will depend on housing supply. While we’re
beginning to see modest increases in home listings, we still need housing supply totals to more than double to bring the market close to balanced territory.”

Sales of detached homes in May 2022 reached 793, a 44.1 per cent decrease from the 1,419 detached sales recorded in May 2021. The benchmark price for a detached home is $2,093,600. This represents a 15 per cent increase from May 2021 and a 0.4 per cent decrease compared to April 2022.

Sales of apartment homes reached 1,605 in May 2022, a 21.7 per cent decrease compared to the 2,049 sales in May 2021. The benchmark price of an apartment home is $779,700. This
represents a 15 per cent increase from May 2021 and a 0.4 per cent increase compared to April 2022.

Attached home sales in May 2022 totalled 520, a 35 per cent decrease compared to the 800 sales in May 2021. The benchmark price of an attached home is $1,141,200. This represents a 21.5 per cent increase from May 2021 and a 0.6 per cent decrease compared to April 2022.

*Editor’s Notes:
1.) 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.

2.) MLS® Home Price Index 2022 update: The national MLS® Home Price Index (MLS® HPI) methodology was
updated during an annual review of the model in May. In line with best statistical practices, the MLS® HPI is
reviewed each year.

Under the new methodology, benchmark attribute data is derived from data collected from the previous five-year rolling period. Benchmark prices are also now based on current benchmark attributes instead of linking benchmark prices to historical benchmark attributes.

In the annual review, coverage was extended to neighbourhoods where sales volumes picked up enough to support
benchmark price tracking and discontinued for neighbourhoods where sales became too sparse to support benchmark price calculations. Read more about these changes.

Due to new housing development, REBGV also expanded the boundaries of the Brentwood neighbourhood in Burnaby, which affected the typical home associated with that area, Central Burnaby, and Parkcrest.

To ensure the MLS® HPI coverage is consistent and comparable, the MLS® HPI historical aggregate and composite data was recalculated based on revised and consistent coverage.

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Luxury Real Estate in Whistler 2022

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What did the Luxury Real Estate Market look like in Whistler pre- and post-pandemic?

It is very interesting to note that prior to the pandemic a luxury buyer was considered mostly non-resident; being US, Hong Kong, or Expats living abroad. On average there were around 10 sales per year over $5 million in Whistler. This clientele was very image focused, all about the nanny, chauffeur drivers, private lessons and who’s who.

It surprised the world that the luxury market took off in Canada during the pandemic. At the time there were 1 million Canadians living overseas and it seems they’ve all headed home to Canada and are excited about living in Whistler.

We saw luxury sales surpassed 25 transactions over $5 million and hit record sales prices on multiple properties climbing close to $20 million. If you also factor in the custom built mansions, it is possible to see investments in this segment of the market being valued at close to $40 million.

Given the demands on the local construction industry to meet the needs of this homeowner and the mega mansions, it is no surprise you can’t find somebody to fix your leaky faucet.

The fact remains that Canadians are staying closer to home. In my opinion Whistler has always been the Switzerland of North America. Buyers seek a community that is safe, healthy, and offers a lot of vertical ski terrain. Now the Canadians from “Onthorrible” aka Ontario can move here and work remotely. Turns out there is a lot of wealthy Canadians that made a lot of money in the tech boom that happened during Covid. But for many, regardless of how their wealth was accumulated or which province they came from, the dream of being part of a community and the benefit of a four-season resort has a lot of appeal. The luxury buyer today has lots of money but is more typically Canadian with their polite humble approach. Less afraid to stand in a ski line and the burning desire to try and make Whistler the Aspens of Canada less of their agenda.

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Vancouver Market Report | February 2022

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Listings inch up, demand remains steady and price gains continue


The Metro Vancouver* housing market saw steady home sales activity, modest increases in home listings and continued upward trends in pricing in February.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,424 in February 2022, an 8.1 per cent decrease from the 3,727 sales recorded in February 2021, and a 49.8 per cent increase from the 2,285 homes sold in January 2022.

Last month’s sales were 26.9 per cent above the 10-year February sales average.

There were 5,471 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in February 2022. This represents an 8.4 per cent increase compared to the 5,048 homes listed in February 2021 and a 31.2 per cent increase compared to January 2022 when 4,170 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 6,742, a 19.3 per cent decrease compared to February 2021 (8,358) and a 19.1 per cent increase compared to January 2022 (5,663).

“Despite having a higher volume of people listing their homes for sale in February, the region’s housing market remains significantly undersupplied, which has been pushing home prices to new highs month after month,” Biggar said.

For all property types, the sales-to-active listings ratio for February 2022 is 50.8 per cent. By property type, the ratio is 34.9 per cent for detached homes, 64.3 per cent for townhomes, and 62.2 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 Index composite benchmark price for all residential properties in Metro Vancouver is currently $1,313,400. This represents a 20.7 per cent increase over February 2021 and a 4.6 per cent increase compared to January 2022.

“A lack of housing supply is at the heart of the affordability challenges in Metro Vancouver today. We need more coordinated action from stakeholders at all levels to help create an ample, diverse supply of housing options for residents in the region today and into the future,” Biggar said.

Sales of detached homes in February 2022 reached 1,010, an 18 per cent decrease from the 1,231 detached sales recorded in February 2021. The benchmark price for detached properties is $2,044,800. This represents a 25 per cent increase from February 2021 and a 4.7 per cent increase compared to January 2022.

Sales of apartment homes reached 1,854 in February 2022, a 5.4 per cent increase compared to the 1,759 sales in February 2021. The benchmark price of an apartment property is $807,900. This represents a 15.9 per cent increase from February 2021 and a 4.1 per cent increase compared to January 2022.

Attached home sales in February 2022 totalled 560, a 24 per cent decrease compared to the 737 sales in February 2021. The benchmark price of an attached unit is $1,090,000. This represents a 27.2 per cent increase from February 2021 and a 5.9 per cent increase compared to January 2022.

*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.

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Vancouver Market Report | January 2022

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Low supply keeps upward pressure on home prices across Metro Vancouver

The first month of 2022 saw home sales come down from last year’s record-setting pace, while low supply continued to cause home prices to edge higher across Metro Vancouver*.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 2,285 in January 2022, a 4.4 per cent decrease from the 2,389 sales recorded in January 2021, and a 15 per cent decrease from the 2,688 homes sold in December 2021.

Last month’s sales were 25.3 per cent above the 10-year January sales average.

There were 4,170 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in January 2022. This represents a 6.9 per cent decrease compared to the 4,480 homes listed in January 2021 and a 114.4 per cent increase compared to December 2021 when 1,945 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 5,663, a 31.8 per cent decrease compared to January 2021 (8,306) and an 8.2 per cent increase compared to December 2021 (5,236).

“As we approach spring, we’ll keep a close eye on the impact of rising interest rates on buyers’ willingness to buy and on whether more home owners will opt to become sellers in what’s traditionally the busiest season of the year,” Stewart said. “With home prices reaching new highs in recent months, the need has never been greater for government to collaborate with the building community to expedite the creation of housing supply and provide more choice for those struggling to buy a home today.”

For all property types, the sales-to-active listings ratio for January 2022 is 40.3 per cent. By property type, the ratio is 28 per cent for detached homes, 51.6 per cent for townhomes, and 49.7 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 $1,255,200. This represents a 18.5 per cent increase over January 2021 and a two per cent increase compared to December 2021.

Sales of detached homes in January 2022 reached 622, a 15.9 per cent decrease from the 740 detached sales recorded in January 2021. The benchmark price for a detached home is $1,953,000. This represents a 22.7 per cent increase from January 2021 and a 2.2 per cent increase compared to December 2021.

Sales of apartment homes reached 1,315 in January 2022, a 10 per cent increase compared to the 1,195 sales in January 2021. The benchmark price of an apartment property is $775,700. This represents a 14 per cent increase from January 2021 and a 1.8 per cent increase compared to December 2021.

Attached home sales in January 2022 totalled 348, a 23.3 per cent decrease compared to the 454 sales in January 2021. The benchmark price of an attached home is $1,029,500. This represents a 24.3 per cent increase from January 2021 and a 2.5 per cent increase compared to December 2021.

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BC real estate market begins 2022 with record-low number of home listings

Article orginally published on DailyHive.com

With sustained high demand, available home listings in British Columbia at the beginning of 2022 started at an all-time record low of 12,179 units, representing a 41% drop over the previous year.

BC Real Estate Association (BCREA) reports all major housing markets in the province saw dwindling supply reach new lows in December 2021, with the Real Estate Board of Greater Vancouver recording 5,588 available listings (-39% year-over-year), the Fraser Valley Real Estate Board at 1,404 (-55.5%), the Vancouver Island Real Estate Board at 1,451 (-47.4%), and the Victoria Real Estate Board at 421 (-53%).

“Last year was a record year for BC homes sales with seven market areas setting new highs,” said Brendon Ogmundson, chief economist of BCREA, in a statement.

“Listings activity could not keep up with demand throughout the year. As a result, we start 2022 with the lowest level of active listings on record.”

bc home sales statistics

 

BCREA states supply concerns are problematic, particularly for the Fraser Valley, Chilliwack, and Vancouver Island markets, where there is one month or less of supply at the current pace of sales.

Based on compiling the data from real estate boards across the province, BCREA states there were 124,854 home sales throughout 2021, representing a 32.8% increase from the 94,001 units in 2020.

The average home price in BC was $928,000 in 2021, which is an 18.7% increase from $781,572 in 2020.

Residential sales totalled $115.8 billion last year — a 57.7% increase from 2020.

For the month of December 2021, a total of 6,871 home sales were recorded across BC, down 17.6% from the record levels in December 2020. Moreover, the average home price in BC exceeded $1 million for the first time, as the average price in three of the largest markets was over $1 million last month.

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Pair of Pemberton developments propose hundreds of new homes

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Articel orignially published in PIQUE MAGAZINE

 

Pemby 3D rendering of Benchlands

A 3D rendering of Pemberton’s future Benchlands neighbourhood.

 

A pair of applications presented to the Village of Pemberton’s (VOP) Committee of the Whole (COW) on Jan. 18 could add two new developments inside the village’s boundaries—and hundreds of new homes.

The first, from the Skénkenam Developments General Partnership (a partnership between the Lil’wat Nation and Pemberton Benchlands Development Corporation) was for a zoning amendment related to the proposed development of the Benchlands on the northwest corner of Pemberton.

The proposal plans to extend Eagle Ridge Drive farther up the hillside, and will provide approximately 270 new single-detached and multi-family units to the community.

Skénkenam purchased the approximately 60-hectare site in Sept. 2021. Most of the land is in VOP jurisdiction, with a portion in the Squamish-Lillooet Regional District.

The Benchlands Neighbourhood Concept Plan was initially approved by council in 2007 as part of the Official Community Plan (OCP), and the area was zoned for residential use with the future growth of the community in mind.

With its application, Skénkenam seeks to rezone the land from Residential One, which is exclusively for low-density, single-family lots, to a Comprehensive Development zone, which are created when there are a mix of proposed land uses that do not match up with any one particular zone.

However, the presentation to the COW on Jan. 18 was not to move forward with the application, but rather to update the committee on its status, according to VOP consulting planner Cameron Chalmers.

With an OCP review currently scheduled to take place sometime over the next year, Chalmers is proposing the creation of a sub-area plan for the Benchlands neighbourhood that will be adopted into the new OCP when it is complete.

“You can think of it almost as it’s analogous to a miniature Official Community Plan,” said Chalmers.

“This is when we anticipate our next appearance before Committee of the Whole would be, when we have the first kind of cohesive draft of that plan, because it will show how all of the pieces tie together and how the project relates, or doesn’t, to council, the Committee of the Whole and the community’s aspirations for this neighborhood in the future.”

One concern about this new development came in the form of a letter written to VOP mayor and council by community member Niki Vankerk, who believes that with a comprehensive OCP review coming sometime within the year, it would be a mistake to move ahead with any OCP amendments, like the one proposed for Benchlands, before fully knowing what new information the OCP review will bring forward.

“I think it’s been at least 10 years since we had a big review of [the OCP], and the nature of the community has changed so much that I think we should be waiting to decide on developments like the Benchlands,” Vankerk said.

“My understanding of an OCP is it’s the community’s wishes and ideas for the direction of the Village and how it would grow. So why would we not wait for that to make any decisions? Maybe the change in the OCP that comes from this review will better align with what the Benchlands developer wants to do, or maybe not, but at least then they have the information of what the current community wants for the town before they make decisions on making changes.”

However, opinions on the development among community members seem to be split, according to council.

While Councillor Amica Antonelli has heard from others in the community who share Vankerk’s stance, Coun. Ted Craddock said he has heard the opposite from people who want to see the new neighbourhood break ground as soon as possible to give the community “a bigger opportunity for rental, and different options for housing.

“Now the concern is … it’d be pretty hard to put off all projects with OCP amendments for two years,” said Craddock, noting that delaying such projects until the OCP update is complete could add years-long delays to new housing opportunities.

“So I would have a hard time agreeing to this total shutdown of the community OCP amendments until that review is in place.”

After a lengthy discussion, the committee directed staff to submit the draft sub-area plan for the Benchlands to a future COW meeting for review.

Meanwhile, on the opposite side of town, between Pemberton and Mount Currie, the Redwoods development (located at 7374 Pemberton Farm Road East) proposed 176 multi-family townhouses, stacked townhouses and 2,751 square metres of commercial space on just 3.3 hectares of land.

After a presentation, the members of council all agreed with Coun. Leah Noble that the level of density of the proposed housing development was “too excessive and out of character for Pemberton.”

The committee rejected the proposed plan in its current form, instead directing staff to amend the application to align it more closely with existing development in the area.

Find the full agenda package and a recording of the meeting at pemberton.ca.

 

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Vancouver Market Report | June 2021

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Metro Vancouver’s housing market sets a steady, calmer pace to begin the summer season

While still elevated, home sale and listing activity in Metro Vancouver* has eased back from the record-setting pace seen in March and April of this year.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential home sales in the region totalled 3,762 in June 2021, a 54 per cent increase from the 2,443 sales recorded in June 2020, and an 11.9 per cent decrease from the 4,268 homes sold in May 2021.

Last month’s sales were 18.4 per cent above the 10-year June sales average.

There were 5,849 detached, attached and apartment properties newly listed for sale on the Multiple Listing Service® (MLS®) in Metro Vancouver in June 2021. This represents a 1.1 per cent increase compared to the 5,787 homes listed in June 2020 and a 17.9 per cent decrease compared to May 2021 when 7,125 homes were listed.

The total number of homes currently listed for sale on the MLS® system in Metro Vancouver is 10,839, a 5.1 per cent decrease compared to June 2020 (11,424) and a 1.2 per cent decrease compared to May 2021 (10,970).

“With low interest rates, a growing economy, and an improving job market, the Metro Vancouver housing market continues to enjoy solid economic fundamentals,” Stewart said. “We’re now seeing a market that’s beginning to normalize from the torrid pace in the spring. This is making multiple offers less common, allowing subjects to be seen on offers more frequently again, and is making new price records less likely.”

For all property types, the sales-to-active listings ratio for June 2021 is 34.7 per cent. By property type, the ratio is 27.5 per cent for detached homes, 49.2 per cent for townhomes, and 37.1 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 $1,175,100. This represents a 14.5 per cent increase over June 2020 and a 0.2 per cent increase compared to May 2021.

Sales of detached homes in June 2021 reached 1,262, a 45.7 per cent increase from the 866 detached sales recorded in June 2020. The benchmark price for detached properties is $1,801,100. This represents a 22 per cent increase from June 2020 and is virtually unchanged from May 2021.

Sales of apartment homes reached 1,774 in June 2021, a 60.5 per cent increase compared to the 1,105 sales in June 2020. The benchmark price of an apartment is $737,600. This represents a 8.9 per cent increase from June 2020 and a 0.1 per cent increase compared to May 2021.

Attached home sales in June 2021 totalled 726, a 53.8 per cent increase compared to the 472 sales in June 2020. The benchmark price of an attached home is $946,900. This represents a 17.4 per cent increase from June 2020 and a 1.1 per cent increase compared to May 2021.

 

*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.

 

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June Newsletter

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Inventory of Active Listings

Did you know – we are here to make your life easier. If you are considering to sell your property but are holding back because it just seems too hard… You have come to the right place!

Property Tax Time

Due to technical issues with the Whistler Municipality website, property tax information, including tax certificates, are not available at this time. Tax notices will be mailed when the systems are back online. The property tax deadline for 2021 is July 30, and in response to COVID-19 impacts to businesses and residents, penalties will not be charged on late payments until October 1.

Property Taxes included with your mortgage payments?

Claim your home owner grant.

Check your property tax account balance with your lender to see if you need to top it up.

 

FROM THE BLOG

New lots released in Cheakamus.

Have you been looking for a building lot? This might be your chance. Read more…

 

4500 Northlands Boulevard

If you are interested in the Northlands development — the largest remaining undeveloped piece of land in Whistler’s core village area, join the Whistler municipality for a virtual open house. Read more…

 

Whistler’s Doors Open Directory

Know Before You Go: This directory provides up-to-date information about what businesses are open in Whistler and details how they are upholding the highest of standards in health and safety for all. Click here for the full directory.

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Whistler | April 2021 Real Estate Hot Sheet

Whistler 

Here is a snapshot of our local real estate market for the month of April! The average sale price of all property types in Whistler have been steadily increasing since the start of 2021. This makes it a strong Sellers market and great time for Sellers to put their place on the market no matter the property type!

 

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Whistler | March 2021 Real Estate Hot Sheet

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!

 

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Monday Morning Buzz | New and Sold listings from the last 7 days | 08 February 2021

 

 

 

 

 

 

 

 

 

 

 

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

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Whistler | August 2020 Real Estate Hot Sheet

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.

 

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Vancouver | August 2020 Real Estate Update

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.

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Vancouver | July 2020 Real Estate Update

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.

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Monday Morning Buzz | New and Sold listings from the last 7 days | 27 April 2020

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

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Whistler Values Up on Average 5 Per Cent

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.

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Whistler Values Up on Average 5 Per Cent

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.

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Happy Holidays! December Market Update

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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I’m always looking for ways to improve my services and make my clients happy. Reviews and referrals are so important for my business and I’d love to get your feedback on my work. It is important for me to earn five stars. Could you take a couple minutes to leave a short review on Google? Google Review

This communication is not intended to cause or induce breach of existing agency agreement.Copyright © 2019 Macdonald Realty Whistler, All rights reserved.

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Whistler Market Hot Sheet | November 2019

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.

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Real Estate in Whistler | New and Sold listings from the last 7 days | 26 September 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!

7 day new
7 day sold
7 day price change

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Real Estate in Whistler | New and Sold listings from the last 7 days | 16 July 2019

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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

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Real Estate in Whistler | New and Sold listings from the last 7 days | 02 July 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!

7 day new
7 day sold
7 day price change

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Vancouver Market Update | May 2019

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.

Download the full report here.

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Real Estate in Whistler | New and Sold listings from the last 7 days | 30 May 2019

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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

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Real Estate in Whistler | New and Sold listings from the last 7 days | 22 May 2019

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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

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Real Estate in Whistler | New and Sold listings from the last 7 days | 13 May 2019

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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

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Vancouver Market Update | April 2019

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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.

DOWNLOAD PDF

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Real Estate in Whistler | New and Sold listings from the last 7 days | 22 April 2019

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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

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Real Estate in Whistler | New and Sold listings from the last 7 days | 14 March 2019

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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

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Real Estate in Whistler | New and Sold listings from the last 7 days | 8 March 2019

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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

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Whistler February Real Estate Market Update

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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.

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Real Estate in Whistler | New and Sold listings from the last 7 days | 28 February 2019

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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

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Massive $3.5-billion Squamish ski resort aiming for 2025 opening (RENDERINGS)

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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)

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Real Estate in Whistler | New and Sold listings from the last 7 days | 21 February 2019

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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

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Real Estate in Whistler | New and Sold listings from the last 7 days | 14 February 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

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Whistler January Real Estate Market Update

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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.

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Real Estate in Whistler | New and Sold listings from the last 7 days | 6 February 2019

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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

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Real Estate in Whistler | New and Sold listings from the last 7 days | 29 January 2019

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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

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Real Estate in Whistler | New and Sold listings from the last 7 days | 17 January 2019

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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

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2018 Whistler Real Estate Stats

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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.

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Whistler December Real Estate Market Update

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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.

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We offer all the real estate services you need

Macdonald Realty was founded in Vancouver in 1944 and has continued to grow through the years and the changes in the real estate market. We’re solid, established and respected, with 20 offices throughout British Columbia. Today, we’re Western Canada’s largest independent full service real estate company, with Residential, Commercial, Property Management and Project Marketing divisions. And we’re still proudly BC owned and operated.

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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