Market Update January 2024 | Whistler Real Estate

By the way, if you’re interested in recreational property in Whistler – let’s connect!

January Whistler Real Estate Statistics:

If you think the market feels ‘confused’ – I would totally agree with you.
One minute it’s busy, the next it’s quiet – so what gives?!

This post was is about the Whistler Market Update in January 2024

Market Dynamics:

Last month Whistler experienced a slight increase in market activity when compared to our sluggish December. The lack of snow and stagnant interest rate environment is keeping Whistler in what feels like a holding pattern.

1. What’s Selling?
Townhouses and Condos under $2,000,000 is the front runner (again). This includes a mix of revenue properties such as hotels & condos, as well as residential properties. Detached homes (chalets) are still the slowest to sell, just 5 sales in January.

2. Who is Buying?
Buyers with equity, inheritances or access to funds from the bank of Mom and Dad are common themes this month. While Sellers with properties priced at or above market conditions a few months ago are now beginning to have a change of heart and undergoing price reductions.

Foreign Buyer Ban:

The Federal government has extended Canada’s Foreign Buyer Ban policy from 2025 until 2027. Sadly, the ban has not appeared to improve housing affordability. Only about 1.1% of home sales in B.C. involved foreign buyers in 2021. Many see this extension as more political than practical. While Whistler remains exempt from the Foreign Buyer Ban due to its status as a resort municipality, the introduction of the Underused Housing tax last year has created additional challenges for foreigners seeking to own a vacation property (e.g., hotel, nightly rental, fractional ownership) through a corporation or trust. And its impact on local housing remains minimal since you can’t live in a hotel room or timeshare.

Housing Density Legislation

With Bill 44 in the works, the province’s housing-density legislation promises to unlock single home residential zoning to create tens of thousands of new homes across the province. The challenge will be whether developers will be enticed to build. In Whistler, building costs and available labor have always been issues, so it will be interesting to see just how affordable and feasible these new homes will be and when they will be built.

Now enough of that – time to go play!

This post was all about the Whistler Real Estate Market Update in January 2024

Ready to explore recreational properties for sale in  BC? Why not explore a vacation property in Whistler?

If you’re seeking the ultimate guide to Whistler real estate, look no further. Whether you’re a seasoned investor or looking to dip your toe into the Whistler market for the first time, allow me to equip you with the knowledge needed to navigate the unique landscape of Whistler’s recreational property market. Want to know more? Click the link below to schedule a meeting or phone call with me – Let’s connect!

This blog is Written by, Carmyn Marcano | Whistler Realtor

Hi there! I’m so glad you are here. I’m a Real Estate Advisor in Whistler, Canada with Engel & Volkers and I am passionate about helping people discover this magical place to holiday, live, or invest. I am a city girl at heart, and relocating to Whistler from Vancouver was a big step for me. But Whistler has it all – it’s a small town of only 14,000 full time residents, but what keeps it exciting is the international flow of visitors. Whistler hosts some of the biggest sporting festivals on the planet and was home to the 2010 Winter Olympics. It is a world-class destination with small town charm – and I love it! I’ve lived in Whistler since 2016, and the culture here is built around the incredible lifestyle of the great outdoors and so you can enjoy where you live & work.

Watch my video to hear my relocation story to Whistler.