SPRINGTIME IN WHISTLER
I love Spring in Whistler! The number and variety of activities is all-time. You can ski new snow on the mountain, go cross country skiing at Whistler Olympic Park, jump on a snowmobile, or head to Pemberton and throw a leg over your mountain bike (yes… all in the same day!) Plus it’s quieter in the Village. Hope you can make it up here this Spring!
WHISTLER REAL ESTATE MARKET UPDATE
The pace of real estate sales has slowed somewhat in March/April, but it is still above average, long-term. Properties may begin to spend more time on market, if they are not priced correct to market. We are still at a very constrained supply level of real estate although listings are slightly increasing week by week, limited inventory is what continues to distinguish the market. Still, incredibly today there are only 29 single family homes (chalets) on market which is 3 more than a week ago starting at $2,800,000+. And if an unrestricted (Phase 1) townhome is of interest, there are eleven (11) current listings (up from only 1 in early November) ranging in price from $1,599,000 to $5,195,000.
INTEREST RATES AND FOREIGN BUYER EXCLUSIONS
The March and April 2022 interest rate increases, the first seen from the Bank of Canada since 2018, did not have any real impact on Whistler market. We will see what today’s new increase does. The foreign buyer ban announced on April 7, 2022 as part of the Federal budget will exclude recreational properties. The impact this will have on the Whistler and Pemberton markets will be dictated by how the government defines ‘recreational properties’. I am following closely and will keep you informed. Check in with me directly to check in on the definition and timing and how this may affect the market going forward.
We are looking forward to attending the amazing Audain Art Gallery Illuminate Gala and Auction on April 23. The Whistler Real Estate is a annual sponsor of this and many other arts and culture events in the Sea to Sky. I hope to see you there!