Summer is almost here and now is a great time to sell your Whistler property. If you haven’t heard yet, there is a shortage of properties for sale in Whistler meaning homes are selling quickly and for more money than they have been in years. If you have been on the fence about selling your home, this summer presents an excellent time for you to capitalize on your investment. Buyers are here and are eagerly snapping up new properties that come on the market. With favourable interest rates, a low Canadian dollar plus consecutive record-breaking years in terms of tourism numbers, there is more demand than ever from people wishing to live and invest in Whistler.
Prices at an all time high
Here in Whistler we are seeing prices trending in an upward direction and even compared to last year home prices have increased across all categories. As of April 2017 detached home prices increased 18 percent from last year, condos have gone up 30.5 percent and townhome prices have increased 20.7 percent. These favourable selling conditions and price gains will not last forever; however, if you are wishing to sell in summer 2017 you will likely be richly rewarded.
Days on market at record low
Due to the low inventory market homes for sale are selling in record time. With inventory levels up to 45 percent lower than last year there is limited supply and homes for sale are selling quickly and often with multiple offers. The average days on the market in April was 61 days for detached homes, 34 days for condos and 42 days for townhomes.
The buyers are here
There is more interest in Whistler at the moment then ever before. With the recent acquisition by Vail Resorts Inc., the announcement of the Renaissance Project, and some bumper ski seasons which have attracted record numbers of tourists, Whistler is the place to buy right now. The buyers are here and there is currently an insatiable demand for Whistler property.
Summer looks good
Summer is an excellent time of the year to sell a home. The Whistler weather coupled with the stunning natural backdrop makes properties look extra appealing this time of year. With flowers in full bloom, the sun shining and the entire town bustling with activity and appeal, summer is the optimal time to present your home in the best light.
Interest rates are low
Interest rates are still at record lows, so borrowing is cheaper than it has been in a long time. Because of this, many investors are utilizing this low-rate period to lock in fixed-term rates and enjoy cheap financing. Rates will not remain this low forever, and when they begin rising expect a cooling of the real estate market.
The Canadian dollar is weak
Whistler’s property market and tourism industry has received a boost in recent years due to the weak Canadian dollar. Investors from the USA and overseas are taking advantage of their strong currency and buying property here in Canada.
It really is the perfect storm creating an optimal environment to sell in Whistler. All factors are in support of this seller’s market and for those on the fence of selling it’s important to know these conditions will not last forever. If you’ve been thinking of selling your home or investment property contact me today to find out what your Whistler property may be worth this summer.
Looking to sell as a non-resident? Make sure to check out my e-book on selling a Whistler property as a non-resident.