The Whistler recreational property market is set for a rebound in 2025, according to the latest Royal LePage Winter Recreational Property Report. Following a slowdown in 2024, the report predicts a 9% rise in the median price of single-family detached homes in Whistler.
Whistler market saw sharp declines
Whistler’s real estate market has seen shifting dynamics over the past year. For the first nine months of 2024, the median price of single-family detached homes fell 3% year over year to $3,569,100, while condominiums experienced a sharper decline of 12.4%, with a median price of $583,600. Sales volume dropped 25% compared to the same period in 2023.
“Reduced demand and growing inventory have tilted the market in favour of buyers, resulting in lower prices,” said Frank Ingham, associate broker at Royal LePage Sussex. “While less snowfall than usual has impacted the winter season, the extended biking season continues to attract interest in the region.”
Whistler’s high-end market remains robust, with slopeside homes typically starting at $3 million and condominiums at $500,000. However, the B.C. government’s stricter enforcement of short-term rental regulations has shifted buyer priorities, with most now planning to use their properties for personal and family use rather than as income-generating investments, the report notes.
Market Trends and Key Drivers
The report notes that falling interest rates and policy changes will bring recreational property buyers back.
“Lowered interest rates have given consumers greater confidence in the real estate market, but many buyers remain cautious, waiting for additional rate cuts,” said Frank Ingham, associate broker at Royal LePage Sussex. “As the bottom of the market approaches, we expect a surge in activity as buyers aim to capitalize on favorable conditions.”
The report also highlighted the impact of federal tax policies on buyer behaviour. Nearly 40% of Royal LePage’s recreational property experts reported increased client inquiries following the capital gains tax inclusion rate changes last year. Federal Conservative Party leader Pierre Poilievre has pledged to reverse tax increases.
Outlook for 2025
Royal LePage projects a stronger 2025, driven by falling interest rates and renewed buyer confidence. Ingham anticipates increased activity by spring as purchasers aim to secure properties ahead of a potential price surge.
“The recent adjustments in capital gains tax policies spurred some sellers to accept lower offers or make quick transactions in 2024,” he said. “With rates declining, we expect more buyers to step off the sidelines.”