Whistler Detached Homes Hit an All-Time HighThe Real Estate Board of Greater Vancouver (REBGV) reports that detached homes in Whistler are now at an MLS® HPI benchmark price of $1,716,200.00, the highest average we’ve seen to date. Home sales in the resort town totalled eight sales in June 2018, an 11% decline from the nine sales recorded in June 2017, but a 167% increase compared to May 2018 when only three homes sold for the month.
From the 81 active detached home listings in June 2018, the eight sales were for homes priced in the two-million-plus price bracket.
The StatsThe total number of detached homes currently listed for sale on the MLS® system in Whistler is 198, a 22% increase compared to June 2017 (163) and a 5% increase compared to May 2018 (188).By property type, the sales-to-active listings ratio for June 2018 is 10% for detached homes, 41% for townhomes, and 33% for condominiums. This demonstrates that detached homes are still hovering in a buyer’s market (meaning there are more houses for sale than there are buyers) with both condominiums and townhomes sitting in a seller’s market (more buyers than houses for sale).
Generally, analysts say that downward pressure on home prices occurs when the ratio dips below the 12% mark for a sustained period, while home prices often experience upward pressure when the ratio surpasses 20% over several months.
Sales of condominiums reached 21 in June 2018, a 22% decrease compared to the 27 sales in June 2017. The benchmark price for an apartment or condo is $579,500. This represents a 30% increase from June 2017 ($444,400) but only a 2.3% increase compared to May 2018 ($566,700).
Attached home sales in June 2018 totalled 22, a 29% increase compared to the 17 sales in June 2017. The benchmark price of an attached home is $1,075,800. This represents a 38% increase in price from June 2017 when the benchmark price was $781,900 but a 3% decrease from May 2018 when the price was $1,109,400.
Historically we see an increase in new listings at this time of year with the market now beginning to show signs of this trend as the summer finally kicks in after a typical June-uary. With this influx of summer visitors, we hope to see buyers out and about looking for their own little slice of this paradise we live in.
You can delve further into the market stats for Whistler, Squamish, Pemberton, and North Vancouver on our website homepage.