Vancouver/Whistler Real Estate Market Stable at Year End and Snow to Start the New Year

Posted by Ursula Morel — January 10, 2011

1294680497The Greater Vancouver residential housing market entered three distinctive phases in 2010. Continued buoyancy from the post-recession recovery began the year, followed by a summer lull and, throughout the fall, a sustained period of stability.

The Real Estate Board of Greater Vancouver (REBGV) reports that total sales of detached, attached and apartment properties in 2010 reached 30,595, a 14.2 per cent decrease from the 35,669 sales recorded in 2009, but a 24.2 per cent increase from the 24,626 residential sales in 2008. Last year’s number of housing sales was 10.3 percent below the ten-year average for annual Multiple Listing Service® (MLS®) sales in the region.

“The last two years have been a bit of a rollercoaster for the real estate market. However, sales over the past six months have definitely shown a trend toward stability. We think that’s good news for home buyers and sellers,” Jake Moldowan, REBGV president said. “The Greater Vancouver housing market experienced a modest increase in home prices in 2010, and a continual decrease in the number of properties being listed for sale.”

“Although we saw some pressure on home prices throughout the year, home values in 2010 remained relatively steady in the region compared to the last few years when we witnessed much more fluctuation,” Moldowan said.

The real estate industry is a key economic driver in British Columbia. In 2009, 35,669 homes changed ownership in the Board's area, generating $1.49 billion in spin-off activity. The total dollar volume of residential sales transacted through the MLS® system in Greater Vancouver totalled $21.19 billion in 2009. The Real Estate Board of Greater Vancouver is an association representing more than 10,000 REALTORS® and their companies. The Board provides a variety of member services, including the Multiple Listing Service®.http://www.rebgv.org/news-statistics/real-estate-market-stable-year-end

Whistler Trends

The Whistler real estate market entered also three distinctive phases in 2010. Continued buoyancy from the post-recession recovery began the year, followed by a summer lull and, throughout the fall, a sustained period of stability.

“The last two years have been a bit of a rollercoaster for the real estate market in Whistler too.In fact we finish this year with basically the same number of sales as in 2009… just over 460…. Yet one thing to note that is very positive was, while the consumer purchased the same number of properties….they spent $25,000,000(million) more.

By the Way: Snow to Start the New Year

December 2010 was the third snowiest December on record at Whistler Blackcomb where the snowbase is now 205 centimetres. Snow is currently falling, and Whistler's alpine forecast is calling for up to 40 centimetres of snowfall within the next 3 days followed by clearer skies for the weekend. Visit Whistler and enjoy amazing nightly accommodation rates. www.whistler.com

Sea to Sky Premier Properties luxury real estate agents are dedicated to bringing the best overall service programs to their clients for their luxury homes, commercial opportunities and investment properties.

With real estate offices in Pemberton, Whistler, Squamish, West Vancouver, White Rock and Salt Spring Island, Sea to Sky Premier Properties links the Sea to Sky Corridor from Pemberton and Whistler seamlessly with Squamish, Vancouver, South Surrey (which also serves the Fraser Valley) and the Gulf Islands.

In addition to being the leaders in luxury real estate sales and marketing, Sea to Sky Premier Properties is committed to expanding our commercial real estate presence in the corridor. With specialists in West Vancouver, Squamish and Whistler, Sea to Sky Premier Properties is ready to assist with all your commercial needs. This will enable many business owners in the Corridor to have the opportunity of working with a company with a solid commercial knowledge and contacts throughout the entire Corridor and the North Shore.

Sea to Sky Premier Properties, an independent real estate marketing company, has distribution networks unlike any of its competitors, including Christies Great Estates, Regents of Who's Who in Luxury Real Estate, Residence International Magazine as well as through their sister company RE/MAX Sea to Sky Real Estate.

"We have 'Built Relationships' with these key marketing networks enabling us to market our client's properties to the world in a professional, cost effective and efficient manner. We are committed to bringing the world's discerning buyers to the Sea to Sky Corridor's doorstep, by introducing them to a comprehensive directory of luxury homes and commercial opportunities", explains Ann Chiasson, President of Sea to Sky Premier Properties.

We look forward to introducing you to our team and our unique service programs.

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