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Whistler Real Estate Update – September 2019

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August 2019 Stats

Sales to active ratio:

  • Aug 2019 = 16% 
  • Detached homes = 10% 
  • Condos = 21%
  • Townhomes = 14%
  • Higher than the previous month (July 2019) = 10%
  • Lower than Aug 2018 = 19%
  • Lower than 5yr Aug average = 23%
  • Higher than 10yr Aug average = 15%

**Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**

Sales:

  • Aug 2019 = 50
  • Higher than the previous month (July 2019) = 31
  • Higher than Aug 2018 = 41
  • Down from 5 yr avg = 61
  • 18% lower than 5 yr avg
  • up on the 10 yr avg = 48
  • 4% Higher than the 10 yr avg

Inventory:

  • Aug 2019 = 310
  • Higher than the previous month (July 2019) = 294
  • Higher than Aug 2018 = 216
  • Higher than the 5 yr avg = 303
  • Lower than the 10 yr avg = 429

Overall What’s going on:
August was a more active month than June or July, it was even stronger than the Spring market.  Seems like Aug 2019 in general was “worse” than the August 5 yr average, but similar to the August 10 yr avg. As I’m sending this update we are well into September, and I can tell you that the market is heating up!  Could be a flash heat, could be the real deal.  Time will tell, you’ll have to wait for the next market update to find out!

Squamish Real Estate Update – September 2019

CLICK HERE FOR A FULL VERSION OF THE NEWSLETTER

August 2019 Stats

  • Aug 2019 Overall = 16% 
  • Detached homes = 17% 
  • Condos = 6%
  • Townhomes = 26%
  • Higher than last month = 13%
  • Lower than Aug 2018 = 20%
  • Lower than 5yr Aug average = 22%
  • Higher than 10yr Aug average = 15%

**Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**

Sales:

  • Aug 2019 Sales = 40
  • Up from last month = 36
  • Down from Aug 2018 = 51
  • Down from 5 yr avg = 50
  • 20% lower than 5 yr avg
  • UP from 10 yr avg = 39
  • 3% Higher than 10 yr avg
     

Inventory:

  • Aug 2019 = 254
  • Less than last month = 269
  • About the same as Aug 2018 = 252
  • Higher than the 5 yr avg = 229
  • Lower than the 10 yr avg = 324

Overall, what’s going on:
August was a more active month than June or July, it was about as active as the Spring market.  Seems like Aug 2019 was more similar to the 10 yr Aug avg and slower than the 5 yr avg. As I’m sending this update we are well into September, and I can tell you that the market is heating up!  Could be a flash heat, could be the real deal.  Time will tell, you’ll have to wait for the next market update to find out!

Whistler Real Estate Update – August 2019

July 2019 Stats

Sales to active ratio:

  • July 2019 = 11%
  • Detached homes = 5%
  • Condos = 12%
  • Townhomes = 16%
  • Exactly the same as the previous month (June 2019) = 11%
  • Lower than July 2018 = 18%
  • Lower than 5yr July average = 20%
  • Lower than 10yr July average = 14%

**Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**

Sales:

  • July 2019 = 31
  • Exactly the same as the previous month (June 2019) = 31
  • Down from July 2018 = 40
  • Down from 5 yr avg = 54
  • Down from 10 yr avg = 47

Inventory:

  • July 2019 = 293
  • Exactly the same as the previous month (June 2019) = 293
  • Higher than July 2018 = 217
  • Slightly higher than the 5 yr avg = 272
  • Lower than the 10 yr avg = 420
** Featured Listing 1 **
4716 Settebello Drive, Whistler BC – $2.299M
3 Bdrm Luxury Townhome in Whistler Village

Welcome to 4716 Settebello Dr in coveted Montebello II (nightly rentals permitted). This 3 bed 3 bath townhome is spread over two levels complete with a private garage. The open kitchen/dining /living areas are on the main level and flow outside to the sun-drenched South facing patio. Relax in your private hot tub gazing at the magnificent views of both Whistler and Blackcomb, or lounge by the gas fireplace in the cozy living room with vaulted ceilings after a day on the slopes! Montebello is the only option for a luxury townhome within walking distance to the village. This complex was extremely well built and very well maintained; the exterior is a classic Whistler design that will never go out of style.
4716 Settebello Drive, Whistler BC
** Featured Listing 2 **
603 4809 Spearhead Drive, Whistler BC – $649,000 
In the heart of the Blackcomb Benchlands; Here is your chance to own a fantastic top floor end unit at the Marquise. This cozy 1 bedroom property is located on the sunny side of the building with views of the slopes from the living room, easy ski in ski out access and fully furnished and turn key ready for your stay. The Marquise is a well maintained concrete building complete with year round heated outdoor pool, covered hot tub, change rooms, conference/party room, exercise room and underground parking & storage. Fairmont Golf course, base of Blackcomb, valley Trails and Lost Lake are all within walking distance. Flexible zoning allows for unrestricted owner use or reap the strong nightly revenues!
New Listings in Whistler – (in the past 30 days)

Sold Listings in Whistler – (in the past 30 days)

Price Reductions in Whistler – (in the past 30 days)

July 2019 Stats:

New Whistler Listings:

Featured Listing 1:

Featured Listing 2:

For more information please visit my website:

www.davidwiebe.ca

If you’re interested in receiving Whistler real estate updates, let me know!

 

Squamish Real Estate Update – August 2019

July 2019 Stats

Sales to active ratio:

  • July 2019 Overall = 14%
  • Detached homes = 11%
  • Condos = 14%
  • Townhomes = 20%
  • Lower than last month = 15%
  • Lower than July 2018 = 18%
  • Lower than 5yr July average = 24%
  • Lower than 10yr July average = 17

**Buyer’s market = <12% / Balanced market = 12%-20% / Seller’s market = >20%**

Sales:

  • July 2019 Sales = 36
  • Down from last month = 39
  • Down from July 2018 = 48
  • Down from 5 yr avg = 53
  • Down from 10 yr avg = 44

Inventory:

  • July 2019 = 260
  • Last month the same = 260
  • About the same as July 2018 = 266
  • Higher than the 5 yr avg = 230
  • Lower than the 10 yr avg = 320

Overall, what’s going on:

I’ve got to be honest, I was a bit surprised to see these low numbers for July.  July was the busiest month for me in 2019 so far, also the same for the colleagues in my office. It feels busier out there than the numbers would suggest.

** Featured Listing 1 **
210 37881 Cleveland Ave, Squamish BC – $348,999
Don’t miss this opportunity to own at “The Main”! Great entry level suite, pied-a-terre or investment property. No wasted space in this 532 sqft one bedroom + flex room suite featuring stainless steel appliances + light palette colour scheme. Enjoy being steps away from breweries, shopping, the waterfront, Farmer’s market, library + estuary from this prime Downtown location. Walk, bike, kite, hike, paddle. Amenities include elevator access, secured parking and bike storage, pet + bike wash station, common garden area. Currently under construction with completion Dec 2019 – March 2020 offering 2-5-10 year warranty. This is an assignment + GST is applicable. All measurements are approximate.
** Featured Listing 2 **
1 41301 Skyridge Place, Squamish BC – $829,000
AMAZING VIEW END UNIT townhouse at SKYRIDGE – Bright, modern + expansive 2045 sq.ft. Ridge plan on 3 levels. Enjoy all the natural light + views, extra windows on the side, open plan living w/ doors to south deck w/ mtn views plus south patio + option for private fenced yard off rec rm. Master features soaker tub + glass shower. Wake up to VIEWS of the Chief + Tantalus Range! Upgrades: gas f/p, furnace + stove, on demand hot water, insulated interior walls, white shaker cabinets, quartz counters, pantry, heated tile bathroom floors, wool carpets, h/w floors! Imagine a garage + 20 ft driveway for parking! Steps to Montessori school + forested trails – 20 min to Alice Lake! Easy highway access. Incredible value for this design + quality – Built Green certified!
New Listings in Squamish – (in the past 30 days) 

Sold Listings in Squamish – (in the past 30 days)

Price Reductions in Squamish – (in the past 30 days)

July 2019 Stats:

New Listings:

Featured Listing 1:

Featured Listing 2:

I get asked this question on a daily basis;
HERE’S THE ANSWER!
For more information please visit my website:

www.davidwiebe.ca

If you’re interested in receiving Squamish real estate updates, let me know!

 

Can you do nightly rentals in Squamish?

Can you do nightly rentals in Squamish? We break down the answers to the following questions:
1) Can you do nightly rentals in Squamish
2) What are the risks?
3) What neighbourhoods are the best?
4) What are the Pros and Cons of nightly rentals?

Continue reading

Squamish Real Estate Update – July 2019

CLICK HERE FOR A FULL VERSION OF THE NEWSLETTER 

June 2019 Year to Date Squamish Real Estate Stats:

Sales to Active Ratio

  • Sales divided by total inventory, showing what percent sold.
  • Average for the 1st ½ of 2019 was 16%. That puts the 1st half of the year smack dab in the middle of a balanced market.
  • The 1st ½ year 5 yr average was 26%, and the 10 yr average was 18%. 2019 was slightly lower than the 10 yr average.
  • Sales

2019 1st ½ year sales # = 250.

  • That’s the lowest 1st ½ year of sales in the past 5 years.
  • That’s 35% lower than the 5 year average for 1st ½ year of sales, and 15% lower than the 10 year average.
  • Noteworthy point: even though 2019 seems quite low compared to the 5 + 10 year averages, the last downward market we experienced, 2009 to 2013, every single 1st ½ year of sales in those years were lower than 2019 is so far.

Inventory

  • 2019 1st ½ yr inventory average = 250
  • 2018 = 300 & 2017 = 200.
  • 2019 is right between the 1st ½ year inventory averages for 2018 & 2017.

HPI Benchmark Price

  • Basically this is the average price but slightly more accurate.
  • Average HPI benchmark price for a detached home in the 1st ½ of 2019 was $940,000.
  • 2018 = $1M & 2017 = $880,000.
  • 2019 is right between the average HPI benchmark price for the 1st½ year of 2018 and 2017.

Fun Fact

  • Even though the sales # peaked in the Spring of 2016, prices kept going up until the Spring of 2018….interesting.

Bottom Line

  • We know we are in a down market, we just don’t know how long it will last for.
  • Even though it feels like the market is abnormally slow, we’ve seen slower in the last downward cycle. It just feels really slow now because of the feeding frenzy we saw between 2015 and 2017.

Whistler Real Estate Update – July 2019

CLICK HERE FOR A FULL VERSION OF THE NEWSLETTER 

June 2019 Year to Date Whistler Real Estate Stats:

Sales to Active Ratio

  • Sales divided by total inventory, showing what percent sold.
  • Average for the 1st ½ of 2019 was 13%. That puts the 1st half of the year at the bottom end of a balanced market.
  • That’s 52% lower than the 5 year average, and 28% lower than the 10 year average.

Sales

  • 2019 1st ½ year sales # = 250.
  • That’s the lowest 1st ½ year of sales in the past 5 years.
  • That’s 33% lower than the 5 year average for 1st ½ year of sales, 16% lower than the 10 year average, and 7 % lower than the 20 year average.
  • Noteworthy point: even though 2019 seems quite low compared to the 5 + 10 year averages, the last downward market we experienced, 2009 to 2013, every single 1st ½ year of sales in those years were lower than 2019 is so far.

Inventory

  • 2019 1st ½ yr inventory average = 250
  • That’s 8.5% higher than the 5 year average, but 29% lower than the 10 year average.

HPI Benchmark Price

  • Basically, this is the average price but slightly more accurate.
  • Average HPI benchmark price for a detached home in the 1st ½ of 2019 was $1.54M.
  • 2018 = $1.64M & 2017 = $1.47M.

Bottom Line

  • We know we are in a down market, we just don’t know how long it will last for.
  • Even though it feels like the market is abnormally slow, we’ve seen slower in the last downward cycle. It just feels really slow now because of the feeding frenzy we saw between 2015 and 2017.