📊 YTD Market Update | July 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 continued on an upward trend again last month at 244 compared to 204 at the same time last year. This is the 5th consecutive month of inventory levels exceeding those of the previous year. Looking at the pace of sales YTD, both the number of sales and total dollar volume are following a downward trend. Sale prices, however, continue to be up. With +/- 6 months of inventory on the market at the moment, buyers have more to choose from and are not feeling the urgency they did a year ago. Price is a critical factor at the moment with well-priced properties selling faster. Average days on the market is holding around 30. Sellers are urged to be realistic and strategic with their pricing as we move into fall, typically an active time in the Whistler market.
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Smaller than Whistler, the Pemberton market is seeing spikes in numbers due to the increase in new developments. Notably, the Crestline and Orion condominium buildings, both well located right in town have added to the inventory that currently sits at a 2 year high of 75. Later this month, this number will jump again as Phase 3 lots at Tiyata Village at Pemberton come to market. The number of sales YTD is down -16% compared to last year with total dollar volume also down slightly at -7%. Sale prices continue to be up. 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. As in Whistler, strategic pricing on the part of sellers will result in a faster sale.
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