Pemberton Market Report: Second Quarter 2023

Pemberton Real Estate Stats: Second Quarter 2023

In terms of Pemberton real estate, Q2 continued the Q1 market momentum with both April and May exhibiting a notable surge in sales activity before tapering off in June following the Bank of Canada’s announcements about further interest rate increases.

A Closer Look at the Pemberton Real Estate Stats

Pemberton experienced a notable surge in sales during the second quarter with a total of 38* transactions recorded, reflecting a substantial 52% increase from Q1.

Inventory levels experienced an upward trend throughout the quarter, climbing from 53* units in April to 67* units in June. Meanwhile, both single-family homes and condos exhibited a significant year-over-year increase in their median sale prices.

Luxury sales in Pemberton also saw an upswing in Q2, with 4 transactions surpassing the $2 million mark. This represents a considerable improvement compared to Q1, which had only 1 sale reaching this threshold, and a total of 3 such sales throughout the entirety of 2022.

Year to date, Pemberton has experienced a remarkable 17% increase in the number of transactions and a substantial 25% rise in the dollar volume of sales, surpassing the market performance at the same time last year.

Pemberton Purchaser Origin

Throughout the second quarter of 2023, 75% of Pemberton’s buyers originated from either Pemberton or Whistler. Additionally, 17% of buyers hailed from the Greater Vancouver Area and Lower Mainland, while 8% came from other regions within BC or Canada.

Looking Ahead

In the coming months, we expect Pemberton’s market momentum to continue throughout the summer as more move-in-ready inventory comes available. However, we could see a shift to a lower average price point due to the continued interest rate increases.

For more information about how the current Pemberton real estate market activity trends may impact your decisions to buy or sell, contact me at any time.