CLICK HERE FOR A FULL VERSION OF THE NEWSLETTER.
Snapshot
Another strong month for real estate sales in Whistler. Interestingly enough it was the lowest # of sales we’ve seen for an October in the last 4 years, but had the 2nd highest $ sales (coming in close behind Oct 2015). 2nd Highest YTD sales in the last 5 years, still quite a ways behind 2016 YTD sales. Lowest inventory levels in the last 5 years across all property types.
- Sales $ increased from to Sept and was higher than October 2016.
- # sales continue to decrease and are considerably lower the last 3 years for the month of October.
- Number of active listings has hit an all time low of just 140!
- Sales to active listings = 43% for Oct 2017, compared to 39% in Sept 2017 and 52% in Oct 2016.
- **This ratio is calculating the monthly sales compared to the total # of listings, basically if there were no other listings how long would it take for the listings to run out. At 40% it would take less than 2.5 months.
- Referencing this statistic: <12% is a buyers market and puts downward pressure on price, between 12%-20% is a balanced market with no pressure on price, >20% is a sellers market with upward pressure on price.
- HPI Benchmark Price:
- Detached: Oct 2017 = $1.62M, that’s $219k higher than Oct 2016.
- Townhomes: Oct 2017 = $1M, that’s $280k higher than Oct 2016.
- Condos: Oct 2017 = $498k, that’s $129k higher than Oct 2016.
- The YTD figure for Whistler continues to be lower than 2016.
- In the last 30 days 68% of properties sold for under the list price, 19% sold over ask and 13% at list price.