In light of all the current financial issues in the world I have updated my 3rd quarter Whistler real estate report to reflect what we are currently experiencing in our real estate market. Briefly, sales up to the end of August this year were off the high pace of last year and more in line with the activity we had in 2006. Although the sales volume has been lower this year we haven’t been affected the same as other markets in North America - the best description would be - we have had a steady flow of buyers with a reasonably good level of properties to choose from. Overall, prices remained stable without any upward pressure - but at the same time not declining from previous sales of similar properties. The month of September was active with many buyers looking to invest in Whistler real estate as a more effective alternative to the various uncertain options available today; again, with prices holding - but not climbing and any property that was competitively priced typically sold within 30-90 days.

The last few weeks have been interesting to say the least, with worldwide attention on financial markets and the ensuing media hysteria it’s hard not to question what’s happening. Ultimately it is pretty clear we are in for a slow down of world economies and adjustments to many real estate markets around the world. Unlike most other real estate markets in North America, Whistler hasn’t had run away appreciation over the last 5 years. From 2003 until 2006 the prices remained relatively flat or slightly down from previous highs set in 2002. It wasn’t until 2007 that we saw any upward pressure on prices and that only started about half way through year. As previously mentioned prices have remained stable throughout 2008 and with all the world exposure we are currently experiencing from the 2010 Winter Olympics the expectation is for our real estate market activity to remain steady through the remainder of this year and into 2009.

As a whole Whistler real estate has a history of steady appreciation over long periods of time as well as maintaining values in difficult times. This coupled with the fact that the current price to value isn’t very far off on many properties, as well as seller’s being open to negotiating prices makes investing in Whistler real estate one of the most attractive investments opportunities at this time.