Let’s talk about what happened in the Whistler and Pemberton Real Estate markets in October.
Whistler Real Estate Market
Whistler saw a sizable increase in market activity with 55* sales in October, up 64% from September. This was an anticipated seasonal increase, as buyers search for places for the upcoming snow season. Buyers having more choice also added fuel to the market, with 263* units available. This is 15% higher than the year-to-date inventory average and inline with the 5-year average for Whistler. The median sales price for single family homes and condos were both up, 9% and 20% respectively, when compared to October 2022. While the sales to listings ratio for the month would suggest the market is leaning towards favouring sellers, the market has seen a number of price decreases and presents opportunity for buyers.
Pemberton Real Estate Market
October was a slower month in Pemberton with three sales – one single family, one townhouse and one condo. This is well below the 5-year average of 13 sales for the month of October. With no change to interest rates, the sustained reduction in buying power remains a driver for the market slowdown with median sales prices down across all categories vs October 2022. Overall inventory is sitting 25% higher than the 5-year average with 77* total active listings – 57 when excluding vacant land. With increased inventory and slower sales, the market in Pemberton is leaning in favour of buyers. As rates stabilize and potentially decrease in the coming months, prices and competition tend to increase, so now may be an opportune time to purchase.