📊 YTD Market Update | August 2018
Buying or selling, it is critical to have a solid understanding of current market conditions.
Dean Linnell gives you an overview of the most important market data for Whistler and Pemberton, BC.
The number of active listings stayed constant between July and August continuing the upward trend. Active inventory is sitting at 249 compared to 206 at this time last year. Corresponding to this increase in inventory, the total number of sales, as well as $ volume remain well below 2017. Our average (median) sales price continues to be ahead of last year by 18%. Inventory levels are holding at +/- 6 months. Buyers have more choice and are not feeling the same urgency they did a year ago. Price is a critical factor at the moment with well-priced properties selling faster. Sellers are urged to be realistic and strategic with their pricing as we move into fall, typically an active time in the Whistler market.
Want to know more about how the current market impacts you?
A much smaller market than Whistler, Pemberton has seen recent spikes in numbers due to the increase in new developments. The number of sales YTD continues to fall behind last year by -21% with total dollar volume also down by 13%. Average sale prices continue to be up by 13%. With new developments impacting numbers, it's important to note that much of this inventory will not be ready for occupancy for some time, so demand still exists for move-in-ready properties, particularly homes and townhomes. As in Whistler, strategic pricing on the part of sellers will result in a faster sale.
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