Whistler Market Report: Second Quarter 2023

Whistler Real Estate Stats: Second Quarter 2023

Continuing the upward trajectory of Q1 market momentum, April was a bustling month for Whistler real estate sales, which further intensified in May before slowing down in June. The decline in June can likely be attributed to the announcement of an interest rate increase at the beginning of the month, along with the prevailing anticipation of additional rate hikes still to come.

Despite an overall increase in market inventory, the number of listings available for sale remained relatively low, reigniting multiple offer situations in specific market segments.

A Closer Look at the Whistler Real Estate Stats

In Whistler, the second quarter of 2023 witnessed a total of 151 sales, with 78% of the sales occurring in April and May.

Both year-over-year and quarter-over-quarter, we witnessed substantial increases in sales volume for single-family homes and townhomes, while the condo category also experienced a slight uptick. The luxury market demonstrated notable activity in Q2, with 11 sales surpassing the $4 million mark, compared to 7 in Q1, with the highest recorded sale price reaching $19 million.

Although inventory levels remained historically low, there was a notable increase of 13% from 205* units in April to 232* units in June.

Whistler Purchaser Origin

Throughout the first half of 2023, the pattern of our buyers’ origin remained consistent, with 79% originating from Whistler or BC’s Lower Mainland. An additional 9% hailed from other regions in Canada, and 12% of buyers originated from outside of Canada.

Looking Ahead

As we shift our focus to Q3, we expect the summer to follow typical summer trends with a slower pace of sales followed by a notable upswing in September as buyers begin their preparations for the upcoming snow season.

That said, with improved inventory levels and the market transitioning towards a buyer’s market, it would be prudent for interested buyers to initiate their property search now. This early start would provide them with a wider range of options and enable them to avoid the peak competition that often arises later in the season.

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