Through the first three months of 2019, market activity in Pemberton remained consistent with that experienced during the previous quarter. Although activity was lower than was seen at the height of the market at the end of 2017 and early 2018, transaction values continue to rise slowly as a result of strong buyer interest and a very low number of properties being offered for sale.
As families and first-time buyers continue to consider Pemberton to be a desirable place to live, single-family homes and condominiums continue to attract the most buyer interest.
Currently, the average transaction value for a single-family home is $997,857 and condominiums are selling at an average value $375,900. Meanwhile, the average transaction value for a townhome is currently $586,500.
The overall average transaction value for a property in Pemberton is currently $518, 800. This represents no change in value since the beginning of the year but a 6% increase from the same time one year ago. The number of properties being listed for sale is slowly increasing but Pemberton is a very small marketplace and the number of opportunities in any sector of the marketplace remains small.
Recent government financial and bank policies related to mortgages and financing have had a noticeable impact on the ability of many buyers to purchase; however, interest remains high and is supporting values.
Average time on the market for a typical property in Pemberton continues to average between 60-90 days for most properties, indicating a balanced market. That said, well priced listings are selling quickly and often have multiple offers.
This Spring and Summer will see a tremendous amount of construction activity in Pemberton with many new homes being built in a number of subdivision. Not to mention, several new medium density developments starting up and a significant capital upgrade to the infrastructure and beautification of the Village area.
Pemberton continues to be the most affordable community in the Sea-to-Sky, while being a beautiful and relaxed rural community. To stay up-to-date on the real estate opportunities in one of British Columbia’s most beautiful places, call one of our local advisors today.
Whether buying or selling, it is important to work with a knowledgeable, full-time, local agent to make sure that you are up-to-date with the right information to make the best decision.