It’s no secret that the Whistler real estate market is going a mile a minute right now. Whistler homes & condos are still selling fast and way over the asking price. Of course, this sounds like an ideal time for someone to sell and take advantage of this market, right? But, if you still love Whistler and are upgrading, what will you buy next?
If you want to sell and take advantage of the red hot seller’s market, you're not alone, but there are always pros and cons to every decision. Keep reading to learn the reasons you may (or may not) want to wait until the market cools to sell your Whistler property.
Pros and Cons of Selling Right Now
Pro: You’ll Likely Get at Least a Full Price Offer
Over half of the homes & condos on the market today are selling for above asking price. This means you can almost guarantee you’ll get at least a full-price offer, and the odds are likely that you’ll get above the asking price. Of course, this is every Whistler property owner’s dream! In this market, you can ensure that all of the TLC you’ve put into your property over the years will pay off big time.
Con: Where Will You Go?
Competition is stiffer than ever out there right now. So, you’ve got an above-asking price officer, you’ve accepted it, and you’ve got to be out of your home or condo in one month. Where will you go? Do you have the capital to make an all-cash offer to get your offer accepted? Are the buyers willing to do a lease-back while finding your next home? Do you want to rent until you can find your next Whistler property? These are all things you must weigh before making the decision to sell.
Pro: Your House Will Likely Sell Fast
The average home sells in just 61 days — but much faster than that in some markets. This means you likely won’t have to sit around waiting and worrying about whether or not your home will sell. It may sell in a few hours, days, or weeks, which is a huge advantage compared to days past when homes could sit on the market, and sellers would eventually have to lower the price.
Con: You’ll Likely Pay More
So, you’ve sold your Whistler property, you’ve got a nice chunk of change in your pocket, and you’re ready to find a new one. To win bidding wars in competitive markets, you may have to pay above asking price. Many buyers are winning bidding wars by making all-cash offers and waiving all subject conditions. The cost of that is an important consideration that could outweigh the extra money you could make right now listing your Whistler home or condo.
Final Thoughts: Should I Sell my Home?
Selling and buying a home or condo in Whistler is a stressful experience in itself. This market is making the process happen more quickly. Overall, it's still a great time to sell and get the best price for your little slice of Whistler. Our advice is, to consider your options and talk to an expert about what the right decision is for your unique situation. Although it’s very unlikely the market will crash, as interest rates rise, the market will likely settle. As with all things Whistler, good things take time and careful consideration! We're here to help.
Let's Talk About You
Your situation is unique, and we'd love to hear all about it. If you're thinking of selling your Whistler property and want to discuss your options, let's schedule a call!