Market Update - Fall 2018
Summer is over and with snow having already touched down in the Village on October 2, Winter is right around the corner. Real Estate in Whistler and the Sea-to-Sky corridor is seeing fewer sales than the hot market conditions of 2016-2017. Sales prices continue to increase, but stats show that the pace of the price increases is slowing.
While we do have notably more listings than this time last year, Whistler inventory is still limited with only 194 active listings (including detached homes, townhouses & condos) recorded on the MLS in September. Properties are tending to sell less quickly, resulting in more price reductions and shifting the market from what has been a strong Seller’s market towards a healthier, more balanced market.
Rising interest rates and stricter mortgage qualification requirements continue to dampen buyer demand. In summary, we are trending toward a healthier market for all, where buyers are starting to have a little more bargaining power and sellers would be wise to set list prices within the market rather than listing higher than market-determined value.
If you’re ready to sell or buy, I’d be happy to discuss how these market trends affect you. Call me to make an appointment today.
Thanks for reading!
*Market statistics gathered from Whistler Listing Service Stats Centre & the REBGV Stats Centre. Image shows Whistler stats.