The single family home inventory in Whistler is decreasing! How and Why?!
In the single family home segment, supply has decreased from 64 homes listed in October to only 48 today! (As of Dec 13).
Whistler’s overall inventory decreased 6% from October to November down to 218 units. While significantly higher than this time last year, it is still historically low.
It seems there is still a misalignment of buyer and seller expectations, which is causing a market standoff with both sides “waiting and seeing.” Many buyers don’t want to overpay as they wait to see if the market will go down, however there are buyers who are still acting if the right property shows up for them. Sellers don’t want to list or sell because most feel that they can and will get more for their property if they hold it… and it is rare for a Whistler seller to be ‘desperate’ or need to sell in order to meet buyers’ expectations. Most owners are also generating incredible revenues this winter or want to own/use their property for their own lifestyle.
The Supply/Demand Story
Supply – Essentially, the supply is barely increasing overall and in certain market segments it is actually decreasing.
12 sales across Whistler in the past 7 days and 12 new listings across Whistler in the same time period.
In the past 2 weeks, there have only been 4 new chalet listings in Whistler, yet 7 chalets have sold in Whistler in the same time period.
**There are ONLY 48 single family homes on the market today! (Almost at an historical low)
**And only one (1) four-bedroom townhome on the market
Demand – Buyers are acting. It doesn’t take many buyers to act in any one category of housing/real estate here for it to quickly diminish/reduce supply. And still, there are many more buyers ‘waiting on the side lines.’
It all comes back to basic economics, and it is very hard to see pricing dropping off a cliff with the current supply/demand scenario.
Is Whistler Real estate a safe haven?
Some buyers are making a choice to move money into real estate (out of stock markets) and Whistler real estate has such a HIGH LIFESTYLE use/value, that it is an obvious choice for many.
Here are some very notable SOLDS in the past 2 weeks: View All Listings