Whistler, BC Cabin Market Trends (2023)

The Whistler, BC cabin market currently favours sellers, with prices and sales expected to hold steady throughout the remainder of 2023. The majority of buyers in this market are a mix of families, couples and retirees, with most coming from the Greater Vancouver Area, some out-of-province and foreign buyers.

In Whistler, the average recreational property sale price decreased by 13 per cent year-over-year (from $1,873,702 in Q1 2022 to $1,623,452 in Q1 2023). Average number of sales decreased by 48.2 per cent year-over-year (from 222 in Q1 2022 to 115 in Q1 2023). In 2022, rising interest rates drastically slowed the Whistler market between the summer and fall months, but this trend hasn’t persisted in 2023. With a continued lack of housing supply, and increased to immigration to BC, buyers aren’t holding off on buying anymore: they’re adapting to current interest rates, which has resulted in renewed interest in the market, especially within the last quarter.

The average price in the Whistler, BC cabin market is expected to remain unchanged throughout 2023.

Succession planning is on the minds of many Whistler-area Baby Boomers, with approximately 900,000 Canadian Baby Boomers expected to retire over the next several years. Baby Boomers’ decision to either sell their property or pass it down to family members could benefit their children and even grandchildren greatly. For instance, the market will likely see many retired or retiring property owners leave the Whistler region, while allowing their children use of the property to enjoy while they working remotely. With that said, it’s important for Baby Boomers looking to sell properties to determine first, whether this property is important enough to their children to hold on to it, or if they’d prefer to sell and reap the financial benefits.

“We’re seeing younger generations, particularly Millennials, being more interested in work-from-home friendly spaces and real estate investments than ever before. Therefore, recreational properties are good investments for those who like to travel and work remotely while earning a rental income when they are not using the properties themselves. With that said, persisting housing shortages coupled with the effects of the nightly rental phenomenon, something that Whistler has been dealing with long before the global popularity of short-term rentals, has continued to strain the long-term rental market,” says Stefanie Hostetter, Manager, RE/MAX Sea To Sky Real Estate.