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Luxury Real Estate Booms: Iconic Rural Property Sets Record for Highest Residential Real Estate Sale

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#realestate #privateresidential #property #luxury
Published
10/20/2020 by

"Since the economy has opened, we have seen unprecedented interest in properties with more land and more privacy," says John Ryan, Whistler's number one real estate agent. "It is almost as if these rural properties have a grounding effect on the buyer, giving them a safe haven in an unpredictable world where they can get back to the land, invest in their wellness, and reconnect with family."

Ryan's recent record-breaking sale is a 41-acre, luxury property in Pemberton, BC, located just 30 minutes from Whistler. The sale is the highest residential real estate deal Pemberton has ever seen, selling for $8,475,000 within weeks. This residence features large acreage including over four acres of lawns, gardens, a pond, and mature trees. An orchard, farmland, outbuildings, plus dirt bike courses complete this property's assets.

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"We anticipate the market to remain strong straight through to the end of 2020, particularly in the high-end segment. These large luxury properties are a hot commodity right now and are selling quickly and for more money," says Ryan. "In Whistler and Pemberton alone, we have seen thirteen sales over $5,000,000 already this year. People are looking to buy in smaller communities where they can work from home and isolate if needed while still being close to the city and world-class outdoor recreation."

Overall, within the Whistler and Pemberton real estate market, in the first two quarters of 2020, the average sale price has increased by 54 per cent from $1.9 million in 2019 to $2.4 million in 2020, resulting in a total dollar volume increase of 22 per cent. The unit volume has also grown 52 per cent with 21 sales in 2019 versus 32 sales in 2020.

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