Call it the comeback story of the decade, but ski town real estate is hot at the moment and the latest data out of Whistler proves that it's not just an Aspen phenomenon. Like other ski towns, Whistler took a hit with the 2008 recession and it's been a slow slog uphill ever since. But a recent article in Pique Magazine highlights what realtors on the ground have been saying for the past few months: total sale numbers are up, more people are spending money, and the Whistler real estate market is at a seven-year high.
Here's how the latest numbers from 2014 break down, as described in Pique:
· Total sales in Whistler in 2014 reached $535 million. That's up 15% from the previous year and is the highest number in seven years. The low point was $309 million five years ago.
· The number of units sold is also at a seven-year high.
· Sales of condos and townhouses continue to dominate market activity, making up almost 70% of all sales.
· The average sales price of detached properties increased by almost 12 per cent to $1.6 million.
· Most buyers are looking for places that cost around $1 million or less. More than 78% of all reported sales in 2014 were below this level.
· But there is renewed interest in the higher-end market. This is being driven by a strong US dollar, a weak Canadian dollar, and a world economy that's slowly recovering.
So there you have it, Curbediverse. Will you be buying in Whistler (or any other ski town) in the near future?
· Confidence returns to Whistler real estate [Pique]
· $11.99 Million Whistler Abode Has Bonkers Slopeside Deck [Curbed Ski]
· Whistler Blackcomb Takes Top Spot in SKI Magazine Rankings [Curbed Ski]
· Canada's Two Largest Ski Resorts Team Up on Season Passes [Curbed Ski]
· Climb Whistler's Via Ferrata For High Adventure Thrills [Curbed Ski]
· All Whistler Coverage [Curbed Ski]