Greetings from Whistler and Pemberton,
Easter weekend brought lots of fresh snow and some rain for the Village, but it did clear up for the Easter Eggs Hunts around the Village starting at 10:30! With all the new snow, Whistler has extended the season a week and is now closing Sunday, April 16th. Blackcomb Mountain will stay open until May 22nd. Don’t miss out on the Whistler Ski and Snowboard Festival April 10-15th, lots of activities including the Saudan Couloir Extreme Race on Blackcomb Saturday April 15th on Blackcomb.
We have our Whistler Real Estate first quarter report for you. As we know, January 2023 was a very slow month in terms of sales, but the markets rebounded in February and March. This came as a function of increased economic certainty, as the Bank of Canada has signalled that interest rate increases have likely come to an end. The return of some certainty in terms of rates has led to an increase in market activity, and with our inventory levels remaining low, this has resulted in the return of multiple offers on some properties!
In Whistler, there were a total of 113* sales in Q1, with 93* of those sales, accounting for 82% of all Q1 sales, coming in February and March. Inventory improved slightly throughout the quarter, rising from 200* units in January to 229* in March, but inventory remains a major market constraint. Here are the stats:
In Pemberton, there were a total of 23* sales in Q1, with over half of those sales coming in the month of March. Inventory levels remained relatively flat throughout the quarter, with an average of 51* units available. The median sales price was up quarter-over-quarter for single-family and townhouse units, while days on market decreased for both categories. Stats can be found below.
There is an exciting new project coming to Pemberton – Tenquille Living. Tenquille is a 10-unit condo project that offers simplified mountain-living, within walking distance to downtown Pemberton and easy access to adventure. Interest in the project can be registered now, and construction is slated to begin this year. Let us know if you are interested and we will get you more details!
Here are the past 7 day’s numbers:
Another reminder that as the tax deadline approaches to not forget about the new Underused Housing Tax. Generally speaking, the 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 Canadian Revenue Agency (CRA). There are situations, however, where the tax or reporting obligations could apply to Canadian citizens or residents, so it is important for our clients to understand whether they are an excluded or affected owner based on their specific situation. The application of the Underused Housing Tax is quite complicated, and we recommend that you advise your client to talk to your accountant about how it may impact you and your Whistler or Pemberton property. Filings are due April 30, 2023, but due to the confusion surrounding the UHT, the Federal government will waive penalties and interest for any late-paid UHT as long as the return is filed or UHT is paid by October 31st, 2023.
Your Mother/Daughter Team
*Note All statistical information provided from sources deemed to be reliable. The information provided is based on data collected from Whistler Listing Service WLS and MLS.
💫 Featured Listing 💫
Anonymous Art Show 2023
Arts Whistler’s most adrenaline-fueled gallery event is back for its fifth year!
The Anonymous Art Show Buying Night returns on April 14, 2023. Save the date and get your tickets early. Each participating artist’s identity – whether established or an up-and-coming talent – is kept secret until you select your art.
Whether you’re seeking a creation from a highly sought-after artist, or looking for the perfect piece to fill a void on your walls, the Anonymous Art Show is an exciting opportunity to buy impressive original art produced by the Sea to Sky creative community. The evening includes more than just art-choosing madness! Buying Night features live music, delicious appetizers, a silent auction, pop-up bar, and a few surprises thrown in along the way. Whether you rock up in cowboy boots or heels, we want you to dress to express.
Entry tickets for buying night are $30; the cost of your art spot or how many you buy is up to you…All the details can be found here!