Pemberton Real Estate Market Report: 2024 in Review and 2025 Outlook
The Pemberton real estate market saw notable activity in 2024, with key indicators highlighting the region’s growth and evolving dynamics. Here’s an in-depth look at last year’s market performance and what might be on the horizon.
Sales Activity
Pemberton recorded 108 property sales in 2024, a 6% increase compared to 2023. This growth was supported by the Bank of Canada’s successive interest rate reductions throughout the year, which boosted borrowing power and fueled buyer demand. The median sales price reached a record high of $870,000, reflecting the strong market conditions.
Inventory Trends and Days on Market
In 2024, a total of 193 units were introduced to the market, including 39 parcels of vacant land. These new listings provided a range of opportunities for buyers, though inventory levels remained modest relative to demand, contributing to the upward pressure on prices.
The time it took to sell properties varied across categories:
- Single-family homes: Median days to sell increased to 53 days.
- Townhomes: Median days to sell rose to 39 days.
- Condos: Median days to sell decreased to 27 days.
- Vacant land: Median days to sell fell to 86 days.
These shifts highlight the nuanced nature of Pemberton’s market, with different property types experiencing varying levels of buyer activity and competition.
Luxury Sales
The luxury segment in Pemberton remained steady, with 7 sales exceeding the $2 million threshold, matching last year’s performance. This consistency underscores the appeal of high-value properties in the region, even as broader market conditions evolve.
Buyer Demographics
Buyer origins remained consistent with historical trends:
- 39% of purchasers were local Pemberton residents.
- 35% came from nearby communities.
- 17% were based in the Lower Mainland.
This mix reflects Pemberton’s enduring appeal to both local and regional buyers.
Anticipating 2025
Looking ahead, we expect the Pemberton market to experience continued growth and increased sales activity. Several factors are poised to influence this trajectory:
Improved Affordability: Anticipated downward trends in mortgage rates and policy adjustments, such as the CMHC-insured mortgage price limit increase, are expected to enhance buyers’ purchasing power.
Economic and Policy Shifts: Upcoming elections in Canada and leadership changes in the U.S. may bring policy updates that affect housing and taxation, potentially creating more favourable conditions for buyers and sellers.
International Interest: Favorable exchange rates are likely to attract more international buyers, further boosting demand in the region.
Pemberton’s real estate market remains an attractive option for those seeking a vibrant community with diverse property offerings. Whether you’re planning to buy or sell, 2025 holds significant opportunities for navigating this evolving market with confidence.
For expert advice tailored to your real estate goals, feel free to contact me. I am here to help you make informed decisions in this dynamic market.
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Find out about the Whistler real estate market here.
*Excluding parking stalls
**All stats deemed to be accurate and taken from the Whistler Listing System, January 2025.
