It’s rained a lot over the past week but the good thing is it has been snowing on the mountains! It is quite a beautiful site when we have a sunny day and the mountains are topped with snow. The forecast is for sunshine and nice warm temperatures for the next week starting on Thursday, so get your sunscreen out and come up and play.
The real estate market remains the same this past week. We have approx 200 listings in Whistler, this has been the new norm for over a year now. Our 3 bedroom townhouses are selling in the $1.7ml – over $2 ml. The 2 bedroom townhouses have been selling around $1.2ml and the 1 bedroom condo’s are selling between $650,000 and 790,000. Single-family homes average price is now about $2ml. The question is, “is this the new norm?” The # of sales is down this year to 740 sales YTD (down 15% from last year) with an increase in dollar value at $839, 286,000 (which is up 5% YTD) This is compared with 888 Sales this time last year valued at $796,447,000. If you are looking for statistics on a specific segment of the market just let us know.
It is going to get harder to qualify for a mortgage these days. Any buyer getting a mortgage in the new year has to do a Stress Test for an uninsured mortgage. This means that if you are getting a mortgage let’s say for 3%, you will have to qualify for 5% or 2 % more than the mortgage you are trying to qualify for. It makes it hard for first-time buyers and people who are already stretching to qualify. The buyer may have to look at a property that is approx 20% less in order to qualify. We are not the experts on mortgages but you can read all about this in Annie de la Chevrotier’s Peak to Peak Mortgage web site: https://peaktopeakmortgage.com/.
Lynne Venner & Tracey Cruz Your Mother/Daughter Team
*All statistical information provided from sources deemed to be reliable*
* Information based on data collected from Whistler Listing Service WLS (or MLS in Squamish )
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#27 The Peaks- JUST LISTED!!
$459,000
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