The Whistler real estate market in 2024 remained stable, but activity levels were lower than historical highs. A total of 511 sales were recorded, reflecting a 2% increase from 2023 but 31 % below the IO-year average. The total sales volume reached $826M, marking a 4% decline from 2023 and 12% below the IO-year average of $940M.
Despite slower transaction activity, pricing remained relatively firm across most property types, with some segments seeing modest gains or stabilization. However, increasing inventory levels indicate a shift towards a more balanced market, giving buyers more leverage.
Single Family Homes (Chalets)
• Total Sales Volume: $296.7M (-23% below IO-year average)
• Number of Sales: 70 (-42% below IO-year average, 56% below the peak in 2021)
• Average Price: $4.24M (-5% from 5-year high)
• Median Price: $2.45M (-7. 7% from 5-year average, 26% below peak in 2021)
• Market Trend: Rising inventory (50% higher since 2023), with 11 months of inventory, shifting towards a buyer's market.
Condominiums
• Total Sales Volume: $202M (+10% above the 10-year average, but -25% from 2021 peak)
• Number of Sales: 200 (-26% below 10-year average)
• Average Price: $1.0lM (+8% from 5-year average, flat compared to 5-year high)
• Median Price: $739K (-9% from 5-year average, -38% from peak)
• Market Trend: Condos remain a bright sp ot, with strong interest in nightly rental properties.
Townhouses
• Total Sales Volume: $235M (-16% below the 10-year average)
• Number of Sales: 117 (-46% from the 10-year average)
• Average Price: $2.00M (+12.6% from 5-year average)
• Median Price: $1.75M (+5.5% from 5-year average)
• Market Trend: Townhouses remain in demand, but sales activity has slowed.
Vacant Land
• Total Sales Volume: $40.2M (-14.5% from 10-year average)
• Number of Sales: 14 (-56% below the 10-year average, -80% from 2021 high)
• Average Price: $2.87M (-26% from 5-year high)
• Median Price: $2.0SM (unchanged from 5-year high)
• Market Trend: Limited inventory keeps prices relatively stable, but demand has softened.
Duplexes
• Total Sales Volume: $27.3M (+3.8% from IO-year average)
• Number of Sales: 11 (-38% from 10-year average)
• Average Price: $2.49 M(-6.8% from 5-year average, -35% from 5-year high)
• Market Trend: A smaller market segment with moderate activity.
Shared Ownership
• Total Sales Volume: $23.6M (+36% above the 10-year average)
• Number of Sales: 72 (-16% from 10-year average)
• Average Price: $328K ( + 17% from 5-year average, at its 5-year high)
• Market Trend: Increasing affordability concerns are driving more interest in shared ownership.
Total Market Inventory: 309 active listings (+32% from 2023, but still below long-term historical levels)
Months of Inventory: Increased across most property types, with chalets seeing the biggest shift towards a buyer's market.
Median & Average Prices: Overall, median prices remained stable, while average prices were down -2.5% year-over-year.
1. Interest Rates: After a period of higher rates, the Bank of Canada reduced rates in late 2024, improving borrowing conditions.
2. Foreign Investment: No foreign buyer ban in Whistler, combined with a weak Canadian dollar, has created buying opportunities for U.S. and international
investors.
3. Economic Confidence: Stabilizing inflation and job growth have boosted buyer sentiment, especially in the luxury segment.
4. Tourism & Rental Demand: Strong visitor numbers and limited nightly rental-zoned properties have kept certain condo markets competitive.
Increased Buyer Power: Rising inventory levels and longer days on the market will give buyers more leverage in negotiations.
Modest Price Growth: With interest rates easing, expect moderate price appreciation in 2025, particularly in chalets and townhouses.
Return of Foreign Buyers: A weak CAD and no foreign buyer ban should continue to attract U.S. and international buyers.
Long-Term Demand: Whistler remains a premium global destination, ensuring real estate remains a strong long-term investment.
The Whistler real estate market in 2024 was stable but slower than previous highs. Some property types, like condos and shared ownership, performed better, while chalets and vacant land saw significant declines in sales volume.
For Buyers: 2025 offers more opportunities and negotiating power in certain price segments.
For Sellers: Market conditions require strategic pricing and patience, especially for high-end properties.
With a strong long-term outlook, interest rate cuts, and ongoing demand for premium real estate, Whistler's market remains resilient heading into 2025 and beyond.
Whether you're buying, selling, or simply exploring your options, local expertise remains critical to navigating these unique markets. If you'd like to discuss how these trends affect your real estate goals, don't hesitate to reach out, 604 905 8833 or rpalm@rennie.com.
