Greetings from Whistler and Pemberton,
The days are getting longer and brighter, we are coming out of the darkest days of winter! Skiing and boarding have been pretty good this week, although more snow would help make the experience even more enjoyable.
The real estate market continues to be top of the news both locally and in the lower mainland. With the interest rates so low and people wanting to buy in Whistler and Pemberton, the number of sales remains high. If you are thinking of upgrading or making a move in Whistler or Pemberton, contact us. In this type of market with low inventory, our experience and expertise will benefit you in every way. We look forward to hearing from you. Here are the numbers for the past 7 days and we hope you enjoy the 2020 market recap and forecast.
WHISTLER REAL ESTATE CURRENT MARKET UPDATE
Final Quarter – 2020
If we could use a few words to describe the Whistler real estate market in 2020 it would be that it was a roller coaster ride. Sales activity started slowly and then dropped to almost nothing in the second quarter, recovered and roared ahead to historical levels in the third and fourth quarters while slowing again in December.
Overall, for the year the total value of reported sales exceeded one billion dollars, and the total number of sales transactions increased by over 30 percent as compared to 2019.
The increase in demand can be attributed to a combination of historically low-interest rates which improved purchasing power; significant wealth creation as a result of the K shaped economy; the attractiveness of small towns associated with health and safety around Covid concerns; and increased awareness of both the effectiveness and flexibility of remote working…
The Pemberton real estate market showed strong performance throughout 2020 in terms of both number of transactions reported and the total dollar value of transactions, despite the uncertainty and unpredictability that characterized 2020.
Increased awareness of the area as a result of increased media coverage, affordable values, a better awareness of the efficiencies of remote working, a national trend of movement from large urban centers to small towns, and, most importantly, historically low interest rates which increased purchasing power, led to strong demand for all types of real estate in this beautiful, rural small town. Total sales activity increased by 40% as compared to 2019 and the total sales value traded exceeded $136,000,000.