WHISTLER ACTIVITY

For the month of August we have seen 71 new listings come to the market in Whistler and a total of 36 sales.

The current inventory in Whistler (total number of active listings) stands at 727 (excluding time shares and parking stalls).

Here is a link to view all the properties that have sold in Whistler over the last 30 days:
http://matrix.buywhistler.com/DE.asp?ID=235580872

Here is a link to view all the Whistler properties that are newly listed over the last 30 days:
http://matrix.buywhistler.com/DE.asp?ID=235579670

INVENTORY ANALYSIS

It is useful to track the current inventory and number of sales per month in order to determine whether one is looking at a buyer’s, neutral, or seller’s market.  This is done by calculating the “month’s supply” which is the number of months that the current inventory will support – holding the current number of sales per month constant.

A Buyer’s Market implies that there is a large months’ supply (8+ months), which results in the average home spending more time on the market and having a greater chance of requiring a price reduction.

Sellers should be aware that it will likely take longer to sell their home in a buyers’ market and pricing is very important to ensure a sale at the best possible price.

A Seller’s Market implies that there is a small months’ supply (0-5 months), which results in the average home spending little time on the market and having a greater chance of selling over the asking price.

In this type of market, buyers should be aware of the limited availability of properties, and the possibility of being in a multiple offer situation.

Looking at the month of August as an example in Whistler, with an inventory of 727 and number of sales at 36, we have just over 20 months of supply. So using this analysis, we can determine that we are still experiencing a Buyers’ Market.

KADENWOOD UPDATE

• Since the beginning of 2011, there have been 8 Lots and 1 home sell in Kadenwood.
• Average pricing for the lots has ranged from $1,000,000 – $2,200,000.
• Phase 2 has Sold Out and subdivision approval has now been received for both Phase 3 and 4, meaning that properties can be sold with immediate possession.

Phase 3 Update:

• 4 lots out of the 11 are either Sold or Under Contract.
• Selling prices ranged from $1,000,000 to $1,645,625

What’s left?

• Remaining lots are priced from $1,000,000 – $1,895,000 and range in size from 15,000 to nearly 44,000 Square Feet
• Maximum buildable sizes are from 5000 – 7500 square feet
• All sites are connected to Whistler Mountain by a very gentle ski-in/out trail with exclusive use of the Kadenwood Gondola and are prepped with services at the lot line.

Phase 4 Update:

• 3 lots out of the 9 are not Sold
• Selling prices ranged from $1,400,000 – $2,200,000.

What’s left?

• Remaining lots are priced from $2,395,000 – $2,895,000 and range in size from 29,000 to nearly 58,000 Square Feet
• Maximum buildable sizes for the remaining sites are all 7500 square feet.
• Phase 4 has some of the best ski-in/ski-out access in all of Whistler with incredible views from Alta Lake and Mount Currie down South to the Tantalus Range and Mount Fee.
• The road is now paved to the lots for easy access.

If you are interested in finding out more just give me a call on 604-905-9105.

Home sale activity remained below long-term averages in the Greater Vancouver housing market in August.

The Real Estate Board of Greater Vancouver (REBGV) reports that residential property sales of detached, attached and apartment properties reached 1,649 in August, a 30.7 per cent decline compared to the 2,378 sales in August 2011 and a 21.4 per cent decline compared to the 2,098 sales in July 2012.

August sales were the second lowest total for the month in the region since 1998 and 39.2 per cent below the 10-year August sales average of 2,711.

“Home sales this summer have been lower than we’ve seen for most of the past ten years, yet we continue to see relative stability when it comes to prices,” Eugen Klein, REBGV president said.

New listings for detached, attached and apartment properties in Greater Vancouver totalled 4,044 in August. This represents a 13.7 per cent decline compared to August 2011 when 4,685 properties were listed for sale on the MLS® and a 15.8 per cent decline compared to the 4,802 new listings in July 2012.

“For sellers it’s critical to work with your REALTOR® to understand today’s market and to develop the best strategy for selling your home,” Klein said. “On average it’s taking about two months for a home to sell on the MLS® in Greater Vancouver today.”

At 17,567, the total number of residential property listings on the MLS® increased 13.8 per cent from this time last year and declined 2.8 per cent compared to July 2012.

“Today, our sales-to-active-listings ratio sits at 9 per cent, which puts us in a buyer’s market. This ratio has been declining in our market since March when it was 19 per cent,” Klein said.

The MLSLink® Housing Price Index (HPI) composite benchmark price for all residential properties in Greater Vancouver is $609,500. This represents a decline of 0.5% compared to this time last year and a decline of 1.1% compared to last month.

Sales of detached properties on the MLS® in August 2012 reached 624, a decrease of 38.8 per cent from the 1,020 detached sales recorded in August 2011, and a 30.1 per cent decrease from the 893 units sold in August 2010. The benchmark price for detached properties increased 0.2 per cent from August 2011 to $942,100.

Sales of apartment properties reached 725 in August 2012, a 24.1 per cent decrease compared to the 955 sales in August 2011, and a decrease of 22.5 per cent compared to the 935 sales in August 2010. The benchmark price of an apartment property decreased 0.9 per cent from August 2011 to $370,100.

Attached property sales in August 2012 totalled 300, a 25.6 per cent decrease compared to the 403 sales in August 2011, and a 19.8 per cent decrease from the 374 attached properties sold in August 2010. The benchmark price of an attached unit decreased 1.9 per cent between August 2011 and 2012 to $462,300.

Download the complete stats package by clicking here.

Click here to download Whistler Quarterly Stats for January to June 2012

WHISTLER ACTIVITY

In the last 30 days we have seen 105 new listings come to the market in Whistler and a total of 37 sales. Included in these listings are 16 foreclosures in the Hilton Resort and Spa.

With current inventory at 772 in Whistler, the total number of listings just in Whistler is down almost 10% compared to the total number of listings this time last year.

Here is a link to view all the properties that have sold in Whistler over the last 30 days:
http://matrix.buywhistler.com/DE.asp?ID=223774618

Here is a link to view all the Whistler properties that are newly listed over the last 30 days:

http://matrix.buywhistler.com/DE.asp?ID=223772373

FIRST QUARTER SALE RESULTS – WHISTLER

If you are interested in seeing the first quarter sales results by property type for 2012 in Whistler

just click on this link and download the package:-
https://shaunaocallaghan.com/blog/market-update/whistler-monthly-stats-march-2012/

ILLEGAL SPACE REVIEW

The new council has kept its promise to address the illegal space that has been built in many single family homes.

They have given the first 3 readings (out of 4) of a bylaw to amend the definitions used in the calculation of allowable home size. The biggest change is to not count basement area where the floor is 1 meter below the average level of the ground outside the walls. This will have a big impact on allowable sizes. There will be buying opportunities where homes can be considerably expanded. Call me if you are interested.

The full bylaw package is here>>.

JUNE ACTIVITIES

The North Face Whistler Half Marathon – June 2

The second annual Whistler Half Marathon race takes place on a 21.1 kilometre course that includes Whistler’s main Village. The gently-rolling course also winds through nearby neighbourhoods and along Whistler’s already-popular running paths, offering spectacular mountain views throughout. Proving to be a hit with runners, this event sold out early in 2011. Course details and description here.

Raise the Roof – June 8

The Raise the Roof party and silent auction is a fundraiser for both the Whistler Adaptive Sports Program and Habitat for Humanity and is hosted by the Delta Whistler Village Suites and Tantalus Resort Lodge. From 5 PM to 8 PM at the Delta Whistler Village Suites, Whistler local Chad Oliver is set to provide the entertainment with his eclectic mix of rock favourites. Tickets are $15 and may be purchased at the Delta. For more information please click here.

2012 BC Gymnaestrada – So You Think You Can Move June 9 – 10

Gymnastics BC is pleased to host the 2012 BC Gymnaestrada – So You Think You Can Move event in conjunction with Whistler Gymnastics. Held at Whistler Secondary School, Gymnaestrada is a unique form of participation in gymnastics open to anyone of any age or skill level. It is an element of gymnastics that is non-competitive and includes a variety of performances, games and sports activities with or without apparatus. It is suitable for all people – from the young to the elderly and for those with physical or developmental disabilities.

Whistler International All Star Hockey Tournament      June 16 to July 9

Come watch the stars of tomorrow as 69 teams from Western Canada and the US participate in 23 days of non-stop hockey action. This elite youth tournament brings together players ranging from 9 to 18 years of age, all with a high level of commitment to their sport. Games take place at Meadow Park Sports Centre. Spectators are welcome. Tournament schedule can be found here.

Whistler Farmer’s Market – June 17/24

A feast for your senses, the Whistler Farmer’s Market features local produce, tasty food, local artisans, live entertainment and family activities along the beautiful Upper Village Stroll. Open Sundays between 11 AM and 4 PM. The Wednesday afternoon market operates from July 4 to August 29, 2012 from 3 to 7 PM.

Tough Mudder – June 23 – 24

Tough Mudder is a hard-core 10 to 12 mile obstacle course designed by British Special Forces to test your all around strength, stamina, mental grit, and camaraderie. Tough Mudder is more than an event; it’s a way of thinking. By running a Tough Mudder challenge, you’ll unlock a true sense of accomplishment, have a great time, and discover camaraderie with your fellow participants that’s experienced all too rarely these days. The race will be held at Whistler Olympic Park. For more information on entry fees and event details, please click here.

Whistler Wellness Fair – June 23

Join us for the 9th annual Whistler Wellness Fair featuring products, samples, services and healthy living ideas all under one roof. Don’t miss the free seminars taking place every hour on the hour. This event takes place at The Westin Resort & Spa Whistler between 11 AM to 6 PM. Admission is by donation benefitting Pearl’s Transition House for Women. For more information, please click here.

Comfortably Numb Running Race – June 24

The 25 KM Comfortably Numb course is an internationally recognized mountain biking route, and it’s even more fun to run! A few climbs, a few descents, a beautiful bridge crossing, numerous sweeping vistas, and almost all single-track. Comfortably Numb is an instant favorite amongst trail runners. More information here.

BC Bike Race – June 30 to July 7

BC Bike Race is much more than the challenge of a ride … it’s about everything experienced along the way – spectacular scenery, fascinating culture, interesting people, and tantalizing tastes. The stages of BC Bike Race wind through nine beautiful west coast communities, each showcasing unique qualities and elements that make British Columbia a world-class destination for athletes, adventurers and visitors alike. Friends and spectators will have an opportunity to congratulate the riders on their accomplishment on July 7 as they cross the finish line at Whistler Olympic Plaza.

Whistler Arts Council – 30 Days of June Activities

For more than 25 years, the Whistler Arts Council (WAC) has served as the resort’s arts & culture “umbrella organization”. WAC’s mandate is to coordinate, stimulate and promote the growth of performing, literary and visual arts in the Whistler area through ongoing music, dance, theatre, festivals and other events for locals and visitors.  In celebration of Whistler Arts Council’s 30th anniversary, they would like to invite you to join them for 30 days of June activities, ranging from free children’s arts and crafts to Little Bear Performances.

• June 2 & 3 – 1:00pm – 2:30pm – 30th anniversary glasses and party hats
• June 6 & 7 – 1:00pm – 2:30pm – Jolly Jellyfish and paper plate lions
• June 13 & 14 – 1:00pm – 2:30pm – Father’s day cards
• June 19, 20 & 21 – 1:00pm – 2:30pm – Yogurt tub animals and telephones
• June 26 & 27 – 1:00pm – 2:30pm – Egg carton bugs and flowers

Dance in the Mountains

A series of fun, drop-in dance workshops open to all. All levels welcome, no experience necessary. No advance registration required. $12 per class or $10 for Dance Whistler members. Please arrive at least 15 minutes before class.

• June 4 – 5:30pm – 6:30pm – Salsa with Emile Sanchez – Register on-line
• June 11 – 5:30pm – 6:30pm – Salsa with Emile Sanchez – Register on-line
• June 18 – 5:30pm – 6:30pm – Adult Jazz with Brandi Keating – Register on-line
• June 25 – 5:30pm – 6:30pm – Adult Jazz with Brandi Keating – Register on-line

Vibe Dance Centre presents Ordinary Miracles

The Vibe Dance Centre presents their annual year-end dance show “Ordinary Miracles”, an original production by Heather and Jeremy Thom. Come and enjoy a magical story performed by local dancers of all ages. With mystical secrets and enchanted moments, Ordinary Miracles will take audiences on a heartfelt journey filled with dance, acting, and music. This is the seventh year Heather has produced the year end show in Whistler, which has become a popular “must see” community event.

• June 15 – 6:30pm – Buy Tickets
• June 16 – 1:30pm – Buy Tickets
• June 16 – 6:30pm – Buy Tickets
• June 17 – 1:30pm – Buy Tickets

LB Productions Summer Musical Workshops

Enhance your child’s summer with creative and fun Theatrical Workshops that include Kodaly music training, singing, acting, improvisation, dance, stage performance skills, creative costume making, hikes, picnics and more.

Workshop dates:
July 16-20 & August 6-10 – Monday to Friday 5 days/week camps

• 8:30am – 5:30pm – $300/wk 9 hour days available to all ages 3-12 yrs
• 9:00am – 3:00pm – $210/wk 6 hour days available to 6-12 yrs only
• 10:00am – 2:00pm – $150/wk 4 hour days available to 3-5 yrs only

All prices subject to HST

Please phone 604-902-9934 for single day bookings.
www.littlebearproductions.vpweb.ca

WHISTLER ACTIVITY

Whistler’s great ski conditions is generally finding its way into the real estate market with total sales year to date up slightly from last year (3%) and our inventory is down about 10% over last year.  The next few months will be busy as buyers have been waiting to view many properties which were difficult to access due to renter during our prime ski months.  We anticipate lots of new listings will come to the market. All of our listings are being actively shown and offers presented.

Here is a link to view all the properties that have sold in Whistler over the last 30 days:
http://matrix.buywhistler.com/DE.asp?ID=217210713

Here is a link to view all the Whistler properties that are newly listed over the last 30 days:
http://matrix.buywhistler.com/DE.asp?ID=217208503

WHISTLER BLACKCOMB TO EXTEND OPERATIONS

Officials with Whistler Blackcomb have extended Blackcomb Mountain’s operations to May 28, 2012 to allow skiers and riders to take advantage of what has been a deep winter on the mountain. Over 60 days of skiing and riding still remain in the season at Whistler Blackcomb, offering one of the longest seasons in North America. Lifts on both Whistler and Blackcomb mountains, including the Peak 2 Peak Gondola, are scheduled to run daily through April 22, concurrent with the tail of the TELUS World Ski and Snowboard Festival. Lifts will continue to operate on Blackcomb until May 28, a week later than previously scheduled.

Between April 23-May 28, the Blackcomb lifts will run 10 a.m. to 4 p.m. The Peak 2 Peak Gondola will not be operating during the Blackcomb spring season.

“We are in the midst of another fantastic winter season here in Whistler so spring will have to wait just a little bit longer,” Doug MacFarlane, Whistler Blackcomb mountain operations manager, said on Wednesday. “We’ve received over 342 cm (135 in.) of snowfall so far in March alone, making for some of the best spring conditions we’ve ever had. Extending the ski season on Blackcomb and giving the people what they want was an easy decision.”

This month is already the snowiest March on record in Whistler. The current cumulative snowfall at Whistler Blackcomb thus far this season is 1184 cm (456 in.), a full 143 cm (56 in.) above the resort’s annual average. Base depths are currently reported as 346 cm (136 in.). When spring does arrive it will be celebrated in style in Whistler with gorgeous conditions, special deals and fun events, including the TELUS World Ski and Snowboard Festival April 13-22 and the World Skiing Invitational April 19-22.

LIVESMART BC – ENERGY INCENTIVE PROGRAM

Do you come to the end of the winter looking at your hydro bills wondering how can it be so expensive to heat your home? With BC hydro rates on the increase many residents are looking to reduce their power consumption, taking advantage of federal and provincial grant programs to make their homes more energy efficient. Although a Federal government program offering an Eco Energy grant has been cancelled after maxing out with 250,000 registrants, the Provincial LiveSmart BC Efficiency Incentive Program has been extended to March 13, 2013, entitling residents to rebates through the province.  If you are interested in learning more, take a look at the website here.

Here is a link to view all the properties that have sold in Whistler over the last 30 days.

Here is a link to view all the Whistler properties that are newly listed over the last 30 days.

Pemberton Real Estate Activity

Here is a link to view all the properties that have sold in Pemberton over the last 30 days.

Here is a link to view all the Pemberton properties that are newly listed over the last 30 days.

Whistler Market Report

We are still experiencing a good level of inventory with a total of 879 properties currently on the market in Whistler as of today’s date. Over the past 30 days there has been a total of 48 sales and 97 new listings.

Comparing third quarter sales results with second quarter results for 2011, we have seen a reduction in sales volume, with a total of 121 unit sales in Q3 2011 compared to 144 unit sales in Q2 2011. However, the number of sales has increased by 10% when comparing the thirdquarter of 2010 with the third quarter of 2011 and dollar volume has seen an increase of just over $2.32% over the same period.

Looking at unit sales for the third quarter year on year over the past 5 years, sales have certainly levelled off since a dramatic drop in 2008 as shown in the chart below.

When assessing the Median Sales Price of various property types for Q3 over the past 5 years the following chart proves interesting.

In the last month there have been some great deals on shared ownership properties so it could be worth taking a second look at this type of ownership. You own Freehold Title to a percentage of the entire property, e.g. quarter share. In this case you are able to use the property for 1 week per month. If you decide not to use it any particular month you can rent out your week to generate some income to cover expenses