Whistler Real Estate Update – April 2019

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Q1 YTD Quick Stats:

  • Sales: Down 40% – 2019=13 vs. 2018=216.
  • Inventory: Up 36% – 2019=216 vs. 2018=130.
  • Days on Market: Up 236% = 2019=52 vs. 2018=22.
  • Rising inventory + lower sales = softening prices.

March 2019 Stats:
Sales to active listings = 16% for March 2019 pushing Whistler back into a balanced market.
Breaking that down into property types: Detached homes = 10%, Condos = 17%, and Townhomes = 19%.

  • **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.
  • 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: March 2019 = $1.7M, that’s $60k less than March 2018.
  • Townhomes: March 2019 = $872k, that’s $47k less than March 2018.
  • Condos: March 2019 = $511k, that’s $24k less than March 2018.

In the last 30 days 77% of properties sold for under the list price, 10% sold over asking and 13% sold at list price.
Average days on the market for March increased to 69 from 44 in February.