Demand heating up for recreational properties across Canada—including in Whistler

The average residential price of a market property in Whistler decreased by 13.4 per cent, to $1,623,452, between the first quarter of 2022 and 2023. Meanwhile, in Ucluelet, prices increased 12 per cent to $764,000 during the same time period.

The average residential price of a market property in Whistler decreased by 13.4 per cent, to $1,623,452, between the first quarter of 2022 and 2023. Meanwhile, in Ucluelet, prices increased 12 per cent to $764,000 during the same time period.

Those were some of the statistics highlighted in RE/MAX Canada’s 2023 Cottage Trends report, which identifies patterns across the country’s recreational property markets.

But take the report’s observations with a grain of salt: Whistler’s unique real estate market is difficult to compare to any other community’s, said Stefanie Hostetter, RE/MAX Sea to Sky Real Estate CEO—even those similarly focused around recreation and popular among second homeowners.

“We have the highest-value homes and recreational properties in Canada,” she said. “Muskoka doesn’t compare. Tofino is beautiful, but it doesn’t compare.”

Whistler remains a seller’s market.

That does fall in line with what some realtors and economists are expecting to see across the country in the coming months, according to the RE/MAX Cottage Trends report. The study predicts the national average price in recreational markets will rise about 0.9 per cent in 2023.