April 2024 Luxury Market Report & A Stronger but Variable Spring Market

This month’s report reviews that, while the broader market is seeing a strengthening trend and tilted towards sellers, on closer examination there is a significant variation between markets and within each market too.

We investigate how statistical data can become a realtor’s compass in understanding today’s variables. Scrutinizing the metrics, both statistically and qualitatively, not only reveals valuable insights but it will facilitate buyers and sellers to make more informed decisions.

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In this month’s report we review:

  • The complexities of the Spring market, highlighting both its strength and variability, as well as how it can give insights into future trends.
  • Even though luxury homes have seen an increase in inventory and sales, it’s still critical to appreciate the impact of active inventory that remains below pre-pandemic levels.
  • Why despite ongoing strength in the market there are variations across different regions and property types.
  • AND MORE!

Check out the Whistler and North American Luxury Report below: (Whistler Report on Pages 21-26)

LUXURY REAL ESTATE REPORT HERE

WHISTLER DETACHED HOMES on Page 19 is a Buyers Market with a 1% Sales Ratio.

  • Homes sold for a median of 80.03% of list price in March 2024.
  • The most active price band is $10,000,000-$14,999,999 where the sales ratio is 8%.
  • The median luxury sales price for attached homes is $12,000,000.
  • The median days on market for March 2024 was 209 days, up from 136 in March 2023.

WHISTLER ATTACHED HOMES on Page 21 is a Balanced Market with a 12% Sales Ratio.

  • Homes sold for a median of 98.11% of list price inMarch 2024.
  • The most active price band is $2,600,000-$2,799,999 where the sales ratio is 100%.
  • The median luxury sales price for attached homes is $2,750,000.
  • The median days on market for March 2024 was 20 days, up from 3 in March 2023.

Referrals are one of the Pillars of our Business.

We are never too busy for your referrals! If you can think of a friend or family member looking to buy and/or sell Real Estate in the Sea to Sky Corridor – Please keep the Morel Real Estate Team top of mind!

Thank you for taking the time to view this report.  For more information and the services we offer, please give us a call us at any time, at 604-932-8629.
                                                                                                – Ursula Morel