Whistler Market Update: February 2023
Let’s talk about the welcomed return of the Whistler and Pemberton Real Estate markets in February.
In Whistler, there were 42* sales in February, a sharp increase from the 19* sales seen in January. This ties October 2022 for the highest number of sales Whistler has seen in a month since April 2022, when the heated pandemic market really slowed down. Inventory remains quite low with 212* units on the market. Notably, days on market for chalets decreased significantly both month-over-month and year-over-year.
In Pemberton, there were 5 sales in February – two single family, two townhomes and one condo. Inventory has improved slightly from December and January and currently sits at 54* units, which is about 13% below the 5-year average. Median sales price essentially remained even or increased for single family, townhomes and condos when compared to January, while days on market decreased significantly for both single family and townhome units.
With spring approaching, there are hopes that we will see a more typical spring market with a relative influx of inventory in both Whistler and Pemberton to keep the market momentum. From an economic standpoint, we are awaiting the next Bank of Canada interest rate announcement on March 8, but many experts expect the current rate to hold as inflation has decreased significantly from its summer 2022 peak and Canada’s GDP growth flatlined at 0% in Q4. A rate hold may bring more confidence to those looking to make a property purchase so keep checking in with your potential buyers and potential sellers, as increased confidence coupled with a hopeful increase in inventory will drive our markets.
As always, please contact me for more information on any properties you see listed in Whistler or if you would like information on the market in general.
In Whistler, there were 42* sales in February, a sharp increase from the 19* sales seen in January. This ties October 2022 for the highest number of sales Whistler has seen in a month since April 2022, when the heated pandemic market really slowed down. Inventory remains quite low with 212* units on the market. Notably, days on market for chalets decreased significantly both month-over-month and year-over-year.
In Pemberton, there were 5 sales in February – two single family, two townhomes and one condo. Inventory has improved slightly from December and January and currently sits at 54* units, which is about 13% below the 5-year average. Median sales price essentially remained even or increased for single family, townhomes and condos when compared to January, while days on market decreased significantly for both single family and townhome units.
With spring approaching, there are hopes that we will see a more typical spring market with a relative influx of inventory in both Whistler and Pemberton to keep the market momentum. From an economic standpoint, we are awaiting the next Bank of Canada interest rate announcement on March 8, but many experts expect the current rate to hold as inflation has decreased significantly from its summer 2022 peak and Canada’s GDP growth flatlined at 0% in Q4. A rate hold may bring more confidence to those looking to make a property purchase so keep checking in with your potential buyers and potential sellers, as increased confidence coupled with a hopeful increase in inventory will drive our markets.
As always, please contact me for more information on any properties you see listed in Whistler or if you would like information on the market in general.
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