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2023 was an overall slower year in the Whistler and Pemberton real estate markets, allowing inventory to tick up while prices held. The main drivers of the lower sales volume were the impacts of inflation on households and the overall borrowing power of buyers as a result of the sustained high interest rates throughout the year.

Whistler

In Whistler, there were a total of 490* sales in 2023, which is a 13% drop from 2022 and the lowest annual sales volume our market has seen in the last 10 years. Total sales dollar volume in the Whistler market was $867M, about $60 million shy of the 10-year average. Prices, however, remained strong, with the median sale price of a Whistler property surpassing both the 2020 and 2021 medians from the heat of the pandemic market. The median number of days for a property to sell in 2023 was 32, up from 21 in 2022, but remains below the 10-year average of 39 days. Despite a slower overall year for the market in 2023, the luxury segment remained strong with 39 sales over $4M in 2023, including a record-breaking $32 million sale. With Whistler’s exclusion from Canada’s foreign buyer ban, international buyers continued to purchase properties in 2023, accounting for approximately 13% of property purchases and 20% of dollar volume. The largest contingent of international buyers came from the United States, with US buyers representing 8% of all property purchases in the Whistler market last year.

Let’s talk about the third quarter of 2023 in the Whistler and Pemberton real estate markets. 

The third quarter in Whistler and Pemberton consisted of steady sales, with some exceptional transactions boosting the luxury market segment. The consistent pace, while slightly lower sales activity, is due to the continued questions about interest rates and future Bank of Canada policies. Listing inventory has continued its slow upward progression. This could also be due in part to the end of the summer season, but it does afford buyers more options and opportunities to choose from.