The 2007/2008 ski season has had a sensational start with record amounts of visitors to Whistler and record sales in most businesses. And once again the Snow Gods have looked favorable upon us, dumping large amounts of snow on a regular basis. The excitement level in the Village is very high and most visitors are either planning return trips and / or asking for information on our real estate.

Whistler real estate sales ended 2007 on a strong note with an overall sales volume increase of 64% compared to 2006 (these numbers don’t include ¼ ownership or timeshare sales). Homes sales were up 48% with 169 houses sold and condominium sales were up 68% from 2006 with a total of 561 units sold. Land sales had the largest percentage increase over 2006 - up 130%. The sales volume for 2008 should continue on a strong pace, however, due to the decrease in properties available for sale we may see a slowing in the overall number of sales this year. On the other hand the low level of properties available for sale has helped firm up prices and in many areas we saw price increases of 5-10% over 2006. While our current market activity is strong, buyers are selective in the properties they are purchasing and unlike 2002 & 2003 we are not seeing the “anything at any price” type of thinking. Properties in high demand include ones in prime locations, upgraded or well maintained properties or competitively priced properties. The residential market and phase 1 condominiums have been the most consistent performers to date; however, we are starting to see a slight increase in the sales volume of the best revenue producing phase 2 condominiums and for the first time in four years the majority of Whistler homeowners will see an increase in the assessed values of their properties - according to B.C. Assessment, property values have jumped in the range of 5 to 15 per cent. Based on all the current information we have and the buyer demand, we are expecting 2008 to be another strong year for real estate sales and with the Olympics on the near horizon hopefully this demand will continue for the next few years.