Whistler luxury home sells for $17 million as demand sets real-estate market in ski resort town “on fire”

Over the weekend, realtor Randy Rinaldo observed on social media that the real-estate market in Whistler has been “on fire”.

The Vancouver-based property agent noted on Twitter noted that this has been so “since the first set of lockdowns ended last year”.

“Lots of lower-mainland folks looking for a holiday home in #Whistler since it’s challenging to travel elsewhere,” Rinaldo wrote, obviously referring to the COVID-19 pandemic.

Rinaldo made the comment after the Straight reported on August 21 that the home personally built by singer and songwriter Sarah McLachlan sold for $11.5 million in a June 11, 2021 deal that was reported on August 5.

The transaction was monitored by Zealty.ca, a real-estate tracking site owned and operated by Holywell Properties.

The $11.5 million McLachlan deal actually wasn’t the biggest transaction reported on August 5.

There was one other, Zealty CEO Adam Major noted, and it’s a record price of $17 million for Whistler so far this year.

That would be 6715 Crabapple Drive, a gated estate nestled on a 5.24-acre lot (2.1 hectares).

“When 6715 Crabapple sold in 2008 for $17.5 million, it was the first house ever sold in Whistler for over $10 million,” Major recalled to the Straight.

Major noted that to date, only 12 properties have been reported sold on the multiple listings service used by realtors for over $10 million in the municipality.

READ  Capitalize On The Housing And Real Estate Boom With This Investment Bundle

The Zealty executive noted that half of those sales happened over the past year.

Whistler is a favourite destination by residents of Greater Vancouver. It is an easy hour-and-a-half scenic drive.

Going back to 6717 Crabapple Drive, Major noted that even though it is a record sale price, it is “actually below its assessed value of $18,643,000 and below its 2008 sale price of $17.5 million”.

Based on Zealty tracking of sales in 2021, 6715 Crabapple Drive and the McLachland home at 5476 Stonebridge Place are two of five Whistler properties that sold for over $10 million so far this year.

The three others are: 2919 Ancient Cedars Lane, $15.5 million; 2247 Nordic Drive, $14 million; 2901 Kadenwood Drive, $12,650,000;

Engel & Volkers Whistler sold 2919 Ancient Cedars Lane for $15.5 million this year.

“The Whistler market is still surprisingly active considering ski season is still a few months away,” Major noted.

Major also cited another notable transaction in Whistler, although this happened last year.

That would be “Sarah’s [McLachlan] neighbour at 5425 Stonebridge [Place]”.

This one “sold for what may be the highest ever recorded sale price for a home in Whistler” at $19 million.

The sale of 5425 Stonebridge Place happened on October 15, 2020.

READ  Kanniyakumari’s paddy fields fall prey to real-estate development

Looking at the statistics for the Whistler and Pemberton market, Major said that local realtors are having a “very good year”.

“Monthly dollar volume of residential real estate sales are off the chart,” he said.

Major explained that over the last decade, Whistler real-estate has been averaging about $50 million in transactions per month. 

“Over the last 12 months though, that number is $135 million per month,”Major said.

In other words, it’s “more than double the 10 year average”.

Based on official figures by the Real Estate Board of Greater Vancouver, the benchmark price of a typical home in Whistler was $1,292,900 in July 2021.

The said price marks a 27.4 percent increase over July 2020. 

More

Leave a Reply

Your email address will not be published. Required fields are marked *