Whistler Real Estate Stats: First Quarter 2023
The Whistler real estate stats for the first quarter of 2023 are in!
January was a slow month in terms of real estate sales but the markets rebounded in February and March. This primarily came as a function of increased economic certainty, as the Bank of Canada has signalled that interest rate increases have likely come to an end. The return of some certainty in terms of rates has led to an increase in market activity, with our inventory still being low this has even resulted in us seeing the return of multiple offers.
A Closer Look at the Whistler Real Estate Stats
In Whistler, there were a total of 113* sales in Q1 with 93* of those sales (accounting for 82% of all Q1 sales) occurring in February and March. Although inventory improved slightly throughout the first quarter, rising from 200* units in January to 229* in March, it remains a major market constraint.
Meanwhile, the median sales price of properties increased both year-over-year and quarter-over-quarter for townhouses and condos. The market saw a slight decrease in the median price of single-family homes.
Going into the second quarter of 2023, we anticipate an increase in inventory as ski season and rentals wrap up and sellers may be more interested in putting their properties up for sale, ultimately fueling the spring market.
From an economic standpoint, some uncertainty remains as a result of the recent Silicon Valley Bank failure, which may make this a good time to invest in less volatile assets such as real estate.
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.
Watch the full Whistler real estate market recap video report
Find out about the Pemberton real estate market here.
*Excluding parking stalls
**All stats deemed to be accurate and taken from the Whistler Listing System, April 2023.