It’s a stunning, sunny April day in Whistler! This might just be the favourite month of the year, given the amazing lifestyle opportunities for visitors and locals. Where else can you ski cold beautiful snow in the alpine, nordic ski at Whistler Olympic Park, hit the golf range, or hop on your mountain bike or cruiser for an afternoon pedal. Then, relax in Whistler Village on one of our numerous sunny outdoor patios.
I feel fortunate to live and sell real estate in this incredible resort community I call home.
Although the first three months of 2025 have seen a slower pace of sales and an increase in inventory, the market overall remains stable. Despite the chaos in the world, we’ve continued to show properties consistently throughout this period. Demand for a piece of our Whistler paradise remains solid.
Good quality, unique, and properly positioned and priced properties are selling. Buyers are viewing and purchasing properties that align with their preferences and sense of value in owning in Whistler.
Whistler is still the best place on Earth!
If you are curious about your Whistler property value, your investment, or opportunities, call me and we can talk it through.
Myself and my dedicated team of Alison and Chantel, are working 7 days a week to ensure we provide our clients with the highest level of service.
Dave
Whistler Real Estate Company Market Synopsis – Q1 2025
The Whistler market is off to a slower start this year, with 106* sales in the quarter, down 23% from the130* sales in Q1 last year. Despite slower sales, there was an uptick in the number of single-family homes sold in Q1 vs Q4 of last year. Inventory continued to rise through the quarter, with a total of 241* listings coming to the market. Overall inventory currently sits at 326* units, up 21% from the end of 2024 and 12%from the same time last year. The median sale price was up vs Q4 across the single family, townhome and condo categories. Median days on market for both townhomes and condos increased from Q1 of last year and decreased from Q4, to 37 and 31 days respectively. Days on market for single family homes was 122,which is on par with Q1 2024 and up from last quarter. Overall, the Whistler market is currently leaning in favour of buyers.
Pemberton Real Estate Market Synopsis – Q1 2025
The Pemberton market so far this year has kept pace with 2024 sales, recording 20 sales in Q1. There was a notable decrease in single family home sales and a notable increase in townhome sales when compared to both last quarter and Q1 of last year. Inventory increased slightly throughout the quarter, with 62* units currently on the market and 41* when excluding vacant land. Overall inventory levels are down 15% from the same time last year and up 15% from the end of 2024. The median price point across all categories remained relatively stable compared to the same quarter of last year. Inventory sat on the market slightly longer in Q1 vs last quarter with days to sell increasing for single family homes, townhomes and condos. Overall, the Pemberton market is also leaning in favour of buyers, although inventory does remain a constant constraint.
Regulatory Notes
Foreign Buyers Ban
As previously noted, the Foreign Buyer Ban does not apply to the Whistler or Pemberton markets, nor does the Foreign Buyer Tax.
New Provincial Short-Term Rental Legislation
In May 2024, the BC government introduced the Short-Term Rentals Accommodation Act. While short-term rentals in Whistler are not impacted by the new regulation, there are rules that those renting their properties for this purpose need to follow (ie. obtaining and displaying your business license, and updating your listings on websites like Airbnb with your licensing information). The Village of Pemberton has chosen to opt-in to the new provincial legislation on short-term rentals, so reach out to your local Whistler Real Estate Company agent to find out what this means for your property. Short-Term Rental Registration Website
Underused Housing Tax
The Underused Housing Tax (UHT) is an annual 1% tax on residential property owned by non-resident, non-Canadians that is deemed to be vacant or underused by the Canada Revenue Agency (CRA). There are situations, however, where the tax or reporting obligations could apply to Canadian citizens or residents, so it is important to understand whether you are an excluded or affected owner based on your specific situation. We recommend that you talk to your accountant about how it may impact you and your Whistler or Pemberton property.
Residential Tenancy Act Changes
On July 18, 2024 there were significant changes to the Residential Tenancy Act that those who own or are looking to sell or purchase tenant occupied properties should be aware of. Some of the key changes include:
- Mandatory landlord use of a new web portal to generate Notices to End Tenancy for personal or caretaker use
- Extended notice period
- The individual moving into the property must occupy it for at least 12 months
It is strongly advised that you seek legal advice to navigate these new regulations effectively if you plan to proceed with a transaction involving tenant-occupied property to ensure compliance with the new rules and ensuring understanding of rights and obligations of the parties involved. More information regarding these changes can be found on the BC Government Website.
Small-Scale Multi Unit Housing
The provincial government has introduced new housing legislation to update zoning rules to deliver more small-scale, multi-unit (SSMU) housing, with the intended objective of building more homes faster. In most municipalities of more than 5,000 people, these changes can allow for 3-4 units permitted on lots currently zoned for single-family or duplex use, depending on lot size, however strata bylaws may impact this. Get in touch with your local Whistler Real Estate Company agent to learn more about how this may impact your Whistler or Pemberton property or property of interest.
Capital Gains Inclusion Rate
The Canadian government had initially proposed an increase in the capital gains inclusion rate, which would have raised the taxable portion of capital gains from 50% to 66.7% for individuals, corporations, and trusts with gains exceeding $250,000. However, in March 2025, the Government of Canada announced the cancellation of the proposed hike, maintaining the current inclusion rate. This decision reflects the government’s commitment to fostering a stable and favourable environment for investment and economic growth.
*Based on the Whistler Listing Systems’ total dollar volume sold.
