SOURCE: Whistler Real Estate Agent - Jon Chaudhari

Whistler Real Estate

May 03, 2017 11:16 ET

Whistler Real Estate Experiencing Strong Seller's Market in 2017

Despite a drop in the number of units sold, the Whistler real estate market performed well through the first quarter of 2017, as limited inventory continues to fuel a strong seller's market, raising average transaction values once yet again

WHISTLER, BC--(Marketwired - May 03, 2017) - 2016 was a record-breaking year for Whistler real estate that produced over $1 billion in sales. Completed transactions were up 22% from the previous year, and prices rose appreciably in all home categories, especially single family and townhome properties. The Whistler property market continued to perform well through the first three months of 2017. Prices remained on an uphill climb, but sales numbers were down in this popular B.C. resort town. According to Jon Chaudhari (www.whistlerrealestateagent.com), a Medallion Club and Platinum Award-winning realtor with the Whistler Real Estate Company, the drop in the number of sales transactions is directly due to lack of inventory.

The first quarter of 2017 saw unit sales volume down about 30% from 2016, primarily due to lower numbers of available listings in Whistler. However, sales activity was still higher than in 2014 and 2015. The average transaction value for Whistler real estate climbed 13% to $1,025,323; a significant jump compared to a year ago. Average transaction values continued to appreciate since the start of the year. Over the last 12 months, consistent demand and lack of inventory have resulted in an increase in average prices across all property segments.

"There is no denying that Whistler is currently in the midst of a very strong seller's market. We have a surplus of buyers and not enough listings to satisfy the demand. Lack of inventory in Whistler is causing prices to rise, creating more competition for properties, but fewer sales. While this market can present some challenges, with the guidance of an experienced Whistler realtor, both buyers and sellers can be successful. Even in a seller's market, sellers still need to set realistic goals when they put their home on the market. For buyers looking to acquire a property in this market, it is critical that they do their research and have financing arranged so they can act fast to beat out the competition," says Chaudhari.

About Jon Chaudhari Personal Real Estate: Consistently ranked in the top percentile of Whistler's top real estate agents, Jon Chaudhari, a Medallion Club and Platinum Award-winning realtor with the Whistler Real Estate Co., has helped hundreds of buyers and sellers achieve their goals through hard work, determination, and years of experience as a successful Whistler realtor. An active member of the Whistler community since 1989, Jon has an intimate knowledge of the Whistler real estate market and has been involved in numerous projects including new Whistler subdivisions, re-development of existing Whistler Village property, and new construction of slope side and waterfront developments. To learn more about Jon Chaudhari and the Whistler real estate market, please visit www.whistlerrealestateagent.com, or call 604-902-7875.

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