MOREL REAL ESTATE TEAM NEWSLETTER | OCTOBER 2023
WHISTLER Q3 MARKET UPDATE
In the third quarter of the 2023 Whistler recorded a total of 106 property sales, marking a significant milestone in the real estate sector. Although this number reflects a decline from the previous quarter, it is important to note that it represents a substantial increase when compared to the same period in 2022. The fluctuation in sales can be attributed, in part, to the prevailing uncertainty as buyers cautiously assess future interest rate trends.
Despite these challenges, the Whistler real estate market exhibited resilience throughout the quarter, with robust sales activity witnessed across all market segments. Notably, the luxury segment outperformed expectations, boasting ten sales exceeding the $5 million mark. The quarter also witnessed a historic event as Whistler’s highest-priced home was sold for a remarkable $32 million, instilling confidence in the market.
Looking ahead to the fourth quarter, the increased inventory presents an opportunity for buyers to secure properties for the upcoming ski season, offering potential revitalization for the Whistler real estate market. In summary, while the market faced its share of challenges, Whistler’s enduring appeal remains strong, with optimism for the future.
PEMBERTON Q3 MARKET UPDATE
In Pemberton, the third quarter saw a total of 17 property sales, signifying a reduction in sales volume compared to the preceding quarter. Much like the scenario in Whistler, this decline can be ascribed to heightened concerns about interest rate increases and the accompanying uncertainty about future rate adjustments. Despite this contraction in sales activity, it is notable that Pemberton has displayed a consistent performance across all property segments holding steady throughout the year of 2022. Even during the slight summer slowdown, median prices have either remained stable or exhibited growth, contingent on the property category.
One encouraging development is the improvement in inventory levels, which have risen from historically low levels. This upturn provides prospective buyers with a more diversified range of options in Pemberton. Looking forward, we anticipate that the Pemberton market will continue to maintain its stable sales trajectory during the fall and winter seasons, primarily due to the limited inventory and available properties that align with Whistler’s price points. This underscores Pemberton’s resilience and attractiveness in the competitive real estate landscape.
Sea to Sky Real Estate Market Update:
Through September 2023
WHISTLER’s real estate market had a total dollar volume of approximately $61 Million in September. There were a total of 33 transactions. Of those sales, 4 were chalets, 8 were townhouses and 7 were condominiums sales.
For a complete breakdown of Whistler Sales by Dollar Volume, Transactions and Property Types, for the past few years, please view our September 2023 stats package here
The SQUAMISH real estate market had a total of 27 Million in sales in September. There were a total of 26 property transactions. Of those sales, 6 were single family homes, 10 were townhomes and 7 were condominiums.
Want more Squamish Stats?
view our September 2023 stats package here
The PEMBERTON market had approximately $5 Million in total dollar volume in September. There were a total of 6 transactions. Of those sales, 4 were chalets, 1 was a townhouse and 1 was a condominium.
Want more Pemberton Stats?
view our September 2023 stats package here
Featured Whistler Chalet
Welcome home to one of Whistler’s most adored homes nestled in the heart of Whistler’s scenic landscape – 9480 Emerald Drive. This enchanting Gothic-arch chalet spans over 3800 square feet, exuding the magic of a storybook setting. It sits on a tranquil 1/3 acre haven adorned with perennial gardens and ancient, majestic trees with beautiful vistas of Armchair Glacier, Wedge Glacier, and the surrounding mountains. This abode boasts a main house with 5 bedrooms and 6 bathrooms, ample storage + accompanied by a beautifully renovated 2-bedroom suite, catering to diverse living needs. Whether you’re savoring evenings by the crackling wood-burning fireplace, hosting soirées in the private gazebo and hot tub, or seeking solace in the sunlit solarium, this chalet weaves a tapestry of experiences.
Featured Pemberton Chalet
Stunning, meticulously maintained custom built home in the sought after Pemberton Benchlands, perched high above the valley on a large 14,853 SF lot. The home features a fully renovated 1 bedroom income suite, and inside the main house showcases new kitchen with stainless steel appliances, cabinetry and backsplash, heat pumps in all 3 bedrooms and living room, custom-built cabinetry for all 3 bedroom closets and laundry room, new engineered oak flooring, a complete interior repaint, custom blinds installed in all bedrooms in 2022, new exterior paint and so much more! 7458 Dogwood is not just a house; it’s a home filled with warmth, style and thoughtful upgrades. Whether you’re relaxing on the inviting deck taking in the views, cozying up by the outdoor firepit and enjoying the lush landscaping, or experiencing the comfort of the thoughtfully renovated interior, this property offers a complete package for modern and lifestyle living.
Tourism Whistler/Mike Crane
Tourism Whistler/Justa Jeskova