📊 YTD Market Update | September 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 its upward trend with 251 active listings as of the end of September compared with 200 at the same 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 19%. Inventory levels are holding at +/- 5 months. The average number of days that properties are sitting on the market was 60 days in Q3. This means that buyers have more choice and are not feeling the same urgency they did a year ago. Price is a now a critical factor, 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.
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A much smaller market than Whistler, Pemberton has seen recent spikes in numbers due to the increase in new developments. Similar to Whistler, inventory numbers continue to be up with 87 listings at the end of September compared to 57 at the same time last year. The total number of sales and the dollar volume year to date continue the trend of being lower than last year. Average sale prices (median), however, are still strong at 22% ahead of last year. 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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