Whistler & Pemberton Market Update – September 11/2024

Greetings from Whistler and Pemberton,

This week we have our Whistler Real Estate August market recap for you. “August was another slower month in Whistler, with only 21* sales. Inventory remained relatively on par with last month across all product categories, except for a 11% decrease in the number of condos on the market. Year-over-year median sales price was down slightly for chalets and up significantly for both townhomes and condos. Days on market increased across all categories versus both last month and last year with a median of 93 days for chalets, 72 for townhouses and 63 for condos. With more inventory and slower summer sales volumes, there has been less of a sense of urgency in the market. Overall, the Whistler market leaned in favour of buyers again in August.

From an economic standpoint, the Bank of Canada announced its third consecutive 0.25% rate cut on September 4. Economists are predicting that they will continue to make slow, quarter point cuts to the interest rate through the end of the year and into next; however, any weaker than expected economic growth, inflation and jobs data may increase the magnitude of these cuts. Even though the adjustments are expected to be small, consumer confidence in the fact that the rates are continually coming down is likely to increase activity in our markets.

Historically when markets have performed well, so has the real estate market in Whistler. We anticipate these economic changes, coupled with a typically busy fall market fuelled by people wanting to be in places for the upcoming snow season, could lead to increases in sales numbers in the coming months.”
*Report provided by Whistler Real Estate.

Below are the latest figures from the past 7 days.

Whistler Market
20 New Whistler Listings
16 Sales in Whistler
8 Price Improvements

Pemberton Market
5 New Pemberton
1 Sale in Pemberton
1 Price Improvement

Wishing you all a fabulous week!