Vancouver, BC (Vocus) February 2, 2010
With the 2010 Winter Olympic Games finally approaching, host venue town of Whistler is seeing a strong revival in its real estate market.
2009 was an unforgettable year for Whistler Real Estate – with the financial crisis in full bloom during the first quarter the real estate market came to a complete stop. Then there was an ensuing price adjustment of 15% – 25% depending on the type of property being sold.
With the adjusted prices there was an increase in sales activity during the second quarter, and the buyers that were willing to write offers were rewarded with the best real estate prices seen for Whistler property in a very long time.
Throughout the duration of the summer, overall sales activity continued to improve, and by the fourth quarter the Whistler real estate market returned to what felt close to normal sales volume.
Due to the higher level of properties available from earlier in the year, prices avoided significant upward pressure. On the other hand, the residential housing market, comprised of single family homes, duplexes, and town homes, has been very active. The inventory of available properties has started to reduce significantly as fourth quarter 2009 sales were up 48% over last year, and early 2010 has seen a continuation of this same trend. This decrease in property for sale has built a support level for prices that will likely result in the return of upward pressure on prices as we move further into this year.
To view some of the best real estate opportunities in Whistler go to http://www.real-estate-whistler.com/listingsindex For additional market information please contact George Klimock at 604-905-2867.
George Klimock of The Whistler Real Estate Co. LTD. is a Resort Property Specialist who has been assisting clients with their real estate needs for over 20 years.