The Whistler real estate market experienced another active year in 2017 resulting in significant price appreciation in most sectors and over one billion dollars of value being transacted throughout the year. Despite the number of reported sales falling below that achieved during 2016, strong buyer interest continued to drive valuations and reduce the number of opportunities available. We expect these general conditions to continue into 2018.

Overall, the total number of transactions reported to the Whistler Listing Service decreased 16.2% compared to 2016; however, this was more than offset by a 26% increase in the average price of a transaction (currently $1,163,392 compared to $901,451 at the end of 2016) and insured that reported sales exceeded $1.1 billion by year end.

 

The annual Tax Assessment Notices have now been sent out and, according to BC Assessment, local property values in Whistler rose 21% overall between July 1, 2016 and July 1, 2017. The total value of real estate in BC came in at $1.86 trillion this year, an 11.9% increase over last year.

 

It is important to note that these notices show an estimate of what your property’s value was as of July 1, 2017. Your assessment statement is a very broad brush. General real estate sales determine a property’s 'value' and the various local and provincial taxing authorities calculate tax rates based on their respective budget needs and the assessment roll for their jurisdiction. Property taxes will be set in the spring once the assessment roll has been finalized.

 

Property owners who have concerns about their assessment should contact BC Assessment as indicated on their notice and review the appeal procedure on the BC Assessment website as soon as possible. If you would like to appeal your assessment you must do so before January 31, 2018.