Whistler – “Some jaw dropping recent sales. These examples are 50% off the 2002 high. This market is starting to tank.”

“Finding actual Whistler stats is as rare as Yeti sightings. The local firms are all in cahoots running the private WLS. I will see what I can find. Sales are a dismal 6-15 per week. Some jaw dropping recent sales, single family home in Alpine for $550K, a ski in/out condo at the Aspens for $300K. These examples are 50% off the 2002 high. This market is starting to tank I fully expect more price pain for 2012. We need the U.S buyers back.”Lady Luck at RETalks 2 Jan 2012 9:19pm

14 responses to “Whistler – “Some jaw dropping recent sales. These examples are 50% off the 2002 high. This market is starting to tank.”

  1. And I would say, this is just the beginning. In crisis times, the toys are the first things to go.

    I just got back from Whistler a few days ago. It looks as busy as usual. Parking lots were full, long line-ups at the condos. You can’t really see something’s wrong with the RE market there. 50 more percent down and I’ll consider buying there 🙂 (I love Whistler!)

  2. Pretty much ditto everything Makaya just said. Was just up there for the holiday break, it was packed. All the bars we went to were at or near capacity, and it was a weekday. My friends were all really considering splitting a little condo up there, considering we paid almost 500 for 2 nights in a 1 bed condo we could probably almost make it worth it. If it wasnt for the feeling there is still a lot further to drop I would strongly consider it.

    • Damn, either there is something wrong with some of the buildings (big assessment coming) or Whistler has gotten a lot cheaper than I thought. 225K buys a suite slightly better than the one we rented in the same building. It looks to me like you can rent the place out through them if you arent using it (they have maid service and a front desk) which could probably help with a bit of the mortgage and strata fees, though I wouldnt count on it for too much.

      Dammit if I’m not giving it a lot more thought in the next couple years. I love mountain biking in the summer and boarding in the winter, and I find the town to be a lot of fun, even if only on a superficial level.

      Sure as hell isnt easy to find out what the strata fees are on these places though.

      • @davers

        one big detractor is maintenance fees on some of the buildings, esp in the village. I looked into buying a Whistler condo or townhome in the summer, and was shocked by how high fees could be on a simple 1-bed condo – upwards of $700/month! Hotels were even worse… Couple that with high property taxes, and you have a pretty hefty cost of ownership.

        That being said, if prices continue to drop I too will buy something up there – love Whistler, I’m up there 5-10 nights a year already…

      • Nuxfan,

        Thats what I’m worried about. I think if I got a place it would be hotel style so it can be rented out with minimal effort from me to hopefully cover the strata costs. I will have to do my research to find some unbiased (or close enough) sources to see if that plan holds any water or not. 700 is getting close to what I pay for rent in Van.

  3. it may have been crowded but that is way off where whistler was circa 1996 through 2002, when i was working up there driving taxi. At Christmas holidays, the town would cease to function because it was too crowded. 45 minute wait to get a cab to go from IGA in the marketplace to the benchlands….i used to tell people waiting that if they can walk they should.

    • Was up there week before Christmas. Taxi drivers say it is the worst ever even in 20 years. The taxi drivers are a good barometer and can always tell you the straight goods. Many groups of people that have historically come are not – especially Americans because of the passport requirement.

      • One more comment was also that Whistler is not well setup to attract the “uber” high-end clientele. It does not have the caliber of shopping that these people expect. When you go to Whistler – where is the street with all the global luxury brands? It’s a bit like going down Robson street compared to 5th avenue in New York – – it really has no comparison.

      • “Whistler is not well setup to attract the “uber” high-end clientele.”

        I would say it depends. It’s true that luxury brands are not there, but Whistler as some amazing accommodations that would suit them.

        Little anecdote. On the way back from Whistler, I stopped at one of the view point on the Sea to Sky highway. Gene Simmons (the guy from the Kiss band and from the reality TV show), his plastic-surgery-refurbished wife and daughter just parked next to us and too some pictures. I would assume they are not the only “uber high-end” clientele going to Whistler.

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