Whistler real estate market update for July 5

Hello! As we near a TGIF I hope this finds your week is going well.

Whistler is currently enjoying Sunshine, something that has been a bit of a rarity this summer... and Spring... But it's here now and that's what counts.

The end of June wrapped up Quarter 2 (Q2) for 2012 which allows us have a look at this year’s market compared to other previous years (figures are based on Chalet, Condo, Townhouse, Shared owner, Duplex and Vacant land listings and sales).

We currently have the least amount of active Whistler listings since Jan 2010 at 708 (but not close to the low experienced at the end of 2007 of 579 active listings), and we currently have approx. 13 months of inventory on the market. This compares the record 50 months of inventory in the months just after the Olympics. Currently Average Sale Price is $666k and is at its lowest since 2009 ($669k).

Q1 2012: 140 sales     Q1 2011: 127 sales
Q2 2012: 146 sales     Q2 2011: 144 sales
Total 2012: 286 sales  total 2011: 271 sales

 Sales           2011                           2012
Chalet             46                               46
Condo             85                               93
Townhouse      84                               104
Shared            39                               30
Duplex             5                                 5
Vacant             7                                 6

Prices are down & sales are up:
Overall, buyer activity continues to increase resulting in lower inventory as smart shoppers capitalize on lower pricing. The proceeding summer months may see an increase in inventory.  If this occurs the current trend of moving towards a balanced market from a Buyer’s market will revert back to that of a Buyer’s market. Anyway you look at it, it's a good time to buy real estate in Whistler and if you are realistic about the market, a good time to sell.

Globally, the reports seem to indicate a US housing market on the comeback with layoffs declining. With the Canadian dollar remaining close to par, we won’t be benefiting from Greenback purchases in Canada for some time to come. The high Canadian dollar is a plus for US owners of Canadian real estate who can sell and cash back into Greenbacks at 1:1 (especially if they bought in the early 2000's on a $.55 dollar). Europe and China announced rate cuts and the UK has announced a stimulus package of 50 billion pounds to prop up its ailing economy. Time will tell as to how Europe will weather their economic downturn.

This past 2 weeks brought 39 new listings, 39 Price changes and 32 completed sales to the Whistler real estate market. Please click here to view.

As always I would appreciate being thought of if you have friends or family who would like more information on these or other Whistler opportunities.

Sincerely,
Nick