As Whistler goes Pemberton follows.
The Pemberton market has been struggling the past few years and finally started turning around in 2006. The momentum has continued and the 2007 figures show it to be one of the best real estate markets in several years.
It seemed, for a while that buyers who once considered Pemberton as the alternative to Whistler started heading south to Squamish. However, in the past two years, the prices in Squamish continued to rise to a point where Pemberton became better value and the buyers started coming back.
The challenge in 2008 is going to be a lack of inventory, as just like Whistler, Pemberton has seen virtually no new construction for the past four years.
At the beginning of 2007, buyers began to realize that Pemberton was undervalued and all the pieces were in place for prices to start increasing. This happened early in the year and by mid 2007 prices had rebounded in some instances to their highs of 2002/2003. Prices are still expected to increase in 2008, but at a more modest pace.
Above (Pemberton Yearly Chalets Sold Up 64.5% over 2006)
Above (Pemberton Yearly Chalets in Units Sold Up 74.4% over 2006)
Above (Pemberton Yearly Condos Up 155% over 2006)
Above (Pemberton Yearly Condos in Units Sold 155% over 2006)