2010 Whistler Report - Residential Real Estate Facts and Trends

News Release

FOR IMMMEDIATE RELEASE

Th

e

winning bid

,

a winning buy

.

New report explores Whistler residential market’s decade

-long adr

e

nalin

e

ru

s

h

Van

c

ouv

e

r

,

BC

–

January 25

,

2010

–

Whistler’

s housing market rebound at the end of 2009capped decade-long growth that saw a 123 per cent increase in assessed values from 2000 to2010, according to a new report from Landcor Data Corporation.

Th

e

2010 Whi

st

l

e

r R

e

por

t

evaluates residential real estate facts and trends for the ResortMunicipali

ty of Whistler since 2000. It provides a decade’s worth of property information and

analysis, including a special focus on foreign and domestic ownership in the region and a detailedquarterly analysis of the Whistler market in 2009.

“This report reveals the transformation that’s taken place in Whistler since 2000 ,” explainsLandcor President Rudy Nielsen. “Since we won the 2010 Olympic and Paralympic Games bid in2003, the change has been dramatic.”

Where are Whistler buyers from?

Nielsen notes that “th

ree years ago, property owners inWhistler hailed from 13 countries. Today that number has skyrocketed to approximately 40

countries around the globe.”

There are currently a total of 13,134 residential properties in Whistler, which have generated8,990 sales since 2000.The average assessed value of a condominium in Whistler increased by 201 per cent to $380,000in 2010 from $189,000 in 2000. There are currently a total of 6,244 condominium units inWhistler, which have generated 4,738 sales since 2000.The average assessed value of a townhome in Whistler increased by 204 per cent to $677,000 in2010 from $331,000 in 2000. There are currently a total of 3,350 townhome units in Whistler,which have generated 2,355 sales since 2000.The average assessed value of a condominium in Whistler increased by 141 per cent to$1,396,000 in 2010 from $580,000 in 2000. There are currently a total of 2,580 detached units inWhistler, which have generated 1,446 sales since 2000.

“Whistler continue

s to be a good investment and this data demonstrates the gain in values in the

past decade,” says Nielsen. “My advice to anyone looking to buy in Whistler is the same advicethat I give to all potential buyers: Don’t wait to buy land. Buy land…Then wait!”

For a

c

opy of th

e

r

e

port and mor

e

information

,

c

onta

c

t:

Rudy Nielsen, President and Founder Landcor Data Corporation(604) 604.606.7914; rudy@landcor.com

Landcor Data Corporation

#200 - 313 Sixth St, New WestminsterBritish Columbia, Canada V3L 3A7www.landcor.com

The Winning Bid, a Winning Buy

The 2010 Whistler Report

By Landcor Data CorporationJanuary 25, 2010

Contact Information

Rudy F. Nielsen R.I (B.C.) F.R.Irudy@landcor.comTel: (604) 606-7914

2010 Whistler Report Final January 20 2010.docx

Page 2

WHISTLER

Whistler Blackcomb has transformed from a local ski hill to an international destination,attracting outdoor enthusiasts year round. Throughout this transition, its real estate markethas proven to be an exceptionally good buy.During the past decade, property values for condominiums, townhouses and detachedhomes have doubled. Most of the increase in value occurred in the first half of the decadeand was the result of the build‑up of anticipation surrounding the bid to host the 2010Olympic and Paralympic Winter Games, and later cemented by winning the bid. A neworder of magnitude has been established in Whistler with detached property valuesexceeding $10 million.

While the global economic downturn briefly slowed sales in the first half of 2009, Whistler’s

resilient property market did not fall victim to the recession and instead bounced back, withsales rebounding strongly in the fourth quarter. The year ended with prices rising.All Whistler property buyers have seen equity gains, as much as $700,000 for those whopurchased in the year 2000.The imminent 2010 Winter Games

will firmly place Whistler centre stage with the world’s

media, enhancing its image and reputation. Real estate sales and prices are bound toincrease in tandem.Whistler Blackcomb is regarded as North America

’s top

ski destination and one of the finestresorts in the world.

It’s scenic and recreational wonders include

8,171 acres of ski‑ableterrain with a vertical drop of 5,280 feet, more than 200 trails, pristine lakes and trails andtop‑notch golf courses, making it the foremost year‑round recreation destination in BritishColumbia. Whistler also has a well‑deserved reputation for environmental sustainability,composting sewage, using geothermal heating and greening its footprint.This report summarizes residential real estate facts and trends for the Resort Municipalityof Whistler since 2000 u

sing Landcor’s unique real estate data from our comprehensive

database of historical sales and current information. The Landcor Data Corporationdatabase covers the entire market ‑ MLS® and non‑MLS® data, including:



BC Assessment data on 1.85 million properties;



Sales transactions data including prices updated weekly; and



Unique custom reports such as the geographic origin of property buyers.