Let’s talk about the numbers in February 2025 Whistler and Pemberton real estate markets.
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Whistler Market Recap:
There were 41* sales in the Whistler market in February, which is a 17% increase in sales from January and about 15% shy of the 47* unit sold in February of last year. Inventory increased 5% from January to February with 290 units available, and 76* new units coming to market in the month. Median sales prices for single family and townhomes increased year-over-year by 37% and 67% respectively, while condos saw a decrease of 14%. Median days on market increased when compared to February of last year, however; decreased for single family homes and condos when compared to last month. Overall, the Whistler market is balanced.
Pemberton Market Recap:
In Pemberton, there were 6* sales in February keeping pace with sales volume from the previous two months. 11* new units came to market in the month, for total inventory of 55* units, sitting just up from January’s (almost) two-year inventory low. Median sales prices increased by 15% for single family homes and 4% for townhomes when compared to sales in February of last year. Apart from vacant land, days on market for properties increased both year-over-year and month-over-month. The Pemberton market is currently leaning in favour of buyers, but we anticipate an interest rate decrease this month would move the market to balanced.
From Economic Views:
From an economic standpoint, we don’t have any more answers and are still facing the same uncertainty we were a month ago regarding a possible US/Canada trade war. The on-again-off-again tariffs will have a significant impact on the overall Canadian economy if they are instituted as planned. The International Monetary Fund has indicated that a prolonged trade war could reduce consumer confidence and delay investment decisions, which will slow real estate markets. On the flipside, there has been a strong patriotic response from Canadians to buy Canadian products and invest in Canada, which could lead to more in country recreational purchases and our markets are highly desirable in this regard. Economists are also predicting a rate decrease at the Bank of Canada’s March 12 announcement, which could help fuel purchasing power and decisions despite the uncertainty and support our economy. While aggregate GVR data indicated a 20% decrease in home sales from January to February, our markets did not experience this same drop and may not necessarily follow the same trends as we move forward.
