The first six months of 2016 saw a dramatic increase in all categories of the Whistler and Pemberton real estate markets. The total number of transactions, total dollar value traded and average value of transactions all saw marked increases as compared to the same period last year.
Strong interest in real estate in southwestern BC generally, a favourable currency exchange rate, and strong consumer confidence has combined to accelerate activity in Whistler and Pemberton to record levels and created a marketplace that is both highly dynamic and challenging for buyers, sellers and agents .
Overall, the total number of transactions in Whistler and Pemberton has increased by 35% as compared to the first six months of last year. The average sale price has increased by 8% leading to an overall increase in dollar volume sold of 41%.
Taking a closer look at each of the markets, we see that both Whistler and Pemberton remain strong with an increase in sales to the end of June of 35% in Whistler and 49% in Pemberton! The average price of a single family home in Whistler increased 14% to $2.1 million while Pemberton homes saw a similar increase of 15% to just over $600,000.
As a result, the number of properties listed for sale has fallen to historically low levels. This past June there were an average of 349 properties listed - that’s down 96% from June 2015! New properties have been attracting immediate attention with many well priced properties receiving multiple offers.
What does this mean for you? Buyers and sellers need to be well informed and prepared prior to writing an offer or going to the market. Working with The Linnell Group is one of your best strategies in today’s exciting and challenging market conditions. Contact us today so that we can help you buy or sell making the most of today’s market environment.
Have a look below at our latest Whistler & Pemberton real estate market update newsletter. Just click the centre of the image to read and press ESC to close.