Top 5 Most Wanted Features in a Big White Ski Resort Property

While every buyer is searching for something with their certain needs and wants, I am here to share the 5 most wanted features in a Big White Ski Resort property that are most common for buyers looking at purchasing property at the resort. Maybe a buyer is looking to check off all five of these boxes, or maybe just one, but these are the features that I have found to be the most wanted when working with both buyers and sellers at the resort.

TOP 5 MOST WANTED FEATURES IN A BIG WHITE SKI RESORT PROPERTY

  1. Ski-in/Ski Out Access

Ski-in/ski-out access is a highly sought after feature. Luckily, unlike other ski resorts like Whistler, Big White offers arguably the best ski-in/ski-out accessibility from nearly every property at the resort. Whether its right outside the door or a short walk to the closest run, ski-in/ski-out access is an attainable feature no matter where on the mountain you are.

  1. Well Run Strata

Having a predictable and proactive strata is another very important and wanted feature for those buyers looking to purchase a condo. As the majority of buyers are not living on the hill, having a well-run strata can ease the minds of buyers that are not always in the unit. With a well-run strata you can trust, a buyer can feel comfortable, and dependent that not only their unit will be looked after but the building itself maintained and functioning at the level they desire. Each building is different in how their strata runs so it is very important to work with a knowledgeable agent and of course review all strata documents.

  1. Rental Income Potential

As previously stated, many buyers are not living on the hill and often look for rental income potential to offset costs when they are not using the property for personal use. Some units provide a steady stream of revenue and others can be limited due to many factors. Revenue potential varies depending on the type of unit, location, and amenities it offers. Many agents will provide past revenue numbers and a revenue forecast if available and applicable.

  1. Location

This feature is completely dependant on each specific buyer but location is very important. Some buyers want to be right in the Village with amenities and activities just a few steps away, while others are looking for a more tranquil area. Happy Valley is a great location and highly sought after as it offers a close proximity to adventures such as ice skating, tubing, and more with also providing direct access to the Village from Lara’s Gondola.

  1. View

Admittedly, this feature is not as important to some as say, ski-in/ski-out access, however many buyers are looking for a property that showcases the stunning Monashee Mountains. Whether it’s from a gorgeous chalet in Feathertop Estates or a condo in the Village centre, views can be a massive selling feature. With the gorgeous sunrises and sunsets that the resort is blessed with, its no wonder views make the top 5 most wanted features in a Big White Ski Resort property.

With the news of the foreign buyer ban being extended, and the resort being exempt from the short term rental ban, Big White Ski Resort is a superb investment for global and local clientele.

Property at Big White Ski Resort

Property at Big White Ski Resort is more than just owning a vacation home. The potential revenue that comes along with your investment plays a major role in your purchasing power. Finding properties that double as a vacation home and a rental property with great earning potential are a rare find. Especially when other resorts such as Whistler have speculation tax. Big White Ski Resort is exempt from that tax making it an even more desirable place to invest.

Owner/Rental Use

Depending on how much you use your property for personal use, the revenue potential can be vast. Renting out your property during the high times such as Christmas and New Years break and Spring break, can yield some great revenue and also provides an opportunity to still use the property personal use during other times of the year. High end luxury chalets have potential to reach six figure rental revenue.

Location Location Location

Property at Big White Ski ResortChoosing an area of the resort is also imperative for both personal pleasure and when renting. Being in or close to the Village is a valuable asset for any property. Many people visiting the resort like to have immediate access to all amenities whether that is in Happy Valley or the Village centre. Speaking of amenities, if a condo is what you are after, comparing each complex’s amenities is important and will affect rental potential. You could go all out and enjoy Stonegate’s amenities which include indoor/outdoor pool, movie theatre, game room and much more. Or if you are looking for a more cost effective strata, a complex such as the Whitefoot lodge may be more ideal.

Owning property at Big White Ski Resort offers the chance to enjoy and revel in the best of both worlds. Using the property for personal use, hitting the slopes and enjoying family vacations along with a fantastic earning potential gives Big White a leg up on other Canadian ski resorts.

Are you ready to start the search for your perfect Big White Ski Resort property? Reach out today and let’s get looking!

March Fun at Big White Ski Resort

March is time for fun at Big White Ski Resort. With many heading to the mountain for Spring Break – the resort is bustling and full of life! Property owners and renters alike are enjoying time at the hill – and with these events its hard not to.

As for Real Estate, there are plenty of showings happening around the resort as well with more and more people interested in investing at Big White Ski Resort.

March Fun at Big White Ski Resort – events

Of course, every Saturday night, the greatest firework show in town explodes down in Happy Valley. Its the perfect chance for the family to enjoy some great fireworks, take a skate around the skating rink, slide your way down tube town, or just enjoy from a window overlooking Happy Valley. This event starts at 9pm every Saturday.

Another big hit in March is the Moose Cruz! Starting March 22-23, this scavenger hunt is like no other. Discover and engage with the mountain, solving clues, exploring terrain and of course the most important, having fun!! Find all the information you need here.

And, the highly popular AltiTunes Music Festival takes place March 31, April 1 at the resort. This highly anticipated event will rock the resort with bands like Moontricks, DJ Invizible, Meems, Shred Kelly and many more! This is a celebration with live music, outdoor activities, and of course skiing! This event is a 19+ event and tickets are selling FAST. Learn more about this event here.

Brief Real Estate Update

Along with all of the fun events happening at the resort, real estate is also busy and seems to have picked up with Spring break happening. Many buyers are looking to find a vacation home to retreat to on the weekends or during school breaks. Units have been renting quite well so far this year with many fully booked for the remainder of the season. Investing on the hill at this time is a great opportunity!

Whether you are searching for an affordable studio unit that you can lock and leave or a luxury chalet with beautiful views, the market is seeing it all. Many people are loving the buildings with amenities such as a pool, fitness room etc.. as it does set it apart from the others than do not have amenities and most do not have rental restrictions.

So far March has seen 6 firm deals, a drop compared to March last year which firm deals equaled 25. The average sale price in March 2022 was $690,128 while thus far March is sitting at an average of $509,417.

I will be on the hill all of Spring break – so give me a call or stop by my office in the Village under Snowshoe Sams. I have plenty of brochures for current listings and can answer any questions you may have about rental revenue, investing, and more! You can also start by contacting me here!

March Fun at Big White Ski Resort

Okanagan’s Real Estate Market is Getting Real

As we head closer to fall weather, the Okanagan’s real estate market is getting real and finally cooling off. After 18+ months of a frenzy, we are now seeing a more balanced market. The market is favoring neither the buyer or seller at the moment but is teetering in between a buyer and seller market. This can make it more difficult in some cases as both the buyers and sellers may plan to wait it out to see how the power shifts. This creates lower number of sales, a drop in average sale price, and more days being spent on the market.

However, with all of that being said, we are never sure of the turn real estate will take and if, in your life, now is the time to either sell or buy, you will get a satisfactory outcome. There are always buyers looking, and always sellers selling, but the two need to match up in order to create a transaction.

So let’s look at the recent stats

The average sale price for a single family home in the Okanagan has not dropped under 1million yet. It has however dropped a touch since last month and now sits at $1,077,431. The price ratio has dropped to 96.90% compared to the 100.68% it sat at in July of 2021.

As expected in the summer months, sales at Big White Ski Resort have taken a slight dip. Although the mountain is open in the summer months, the volume of visitors is not nearly what the winter months bring in. Thus creates less of a frenzy when looking to purchase a property at the resort. The resort has seen over 100 residential transactions thus far in 2022. The average sale price is sitting at an affordable $616,904.

Big White’s inventory is on par, with 59 active residential listings and 4 commercial listings. As always there are affordable, studio units, or more luxurious million dollar properties. (Check out all current listings here) Both are great for producing revenue while renting out or to enjoy yourself during a weekend family getaway.

For more real estate information, to start on your real estate journey, or to build your current portfolio, reach out today.

LIVE WHERE YOU PLAY

Gear up for Summer at Big White

Its time to gear up for summer at Big White because the resort is opening on June 30, 2022 for its summer season! If you read my last blog post, you are aware of some pretty incredible events and experiences lined up. Like the Craft & Country Music Festival happening on July 16th. This year marks the resort’s 7th year of hosting this event that features tons of great breweries, cideries, and this year featuring music from The Heels.

There are so many more events to talk about, so lets dive into it!

Events to Gear up for Summer at Big White

The resort is still looking for ambitious volunteers for this years Community Clean Up. This is a great way to get outdoors and make sure the resort is looking impeccable for the summer months! To register or find more information just head to this link.

The Okanagan Graveller, brought to us by the team behind the iconic Okanagan Granfondo in Penticton, is a 2 day, 3 distance weekend that the resort is thrilled to host June 18-19, 2022. The Village is sure to be bustling with excitement in the beer gardens with entertainment and BBQ after the ride.

If you enjoy trail running, then the Big White Peak Challenge is perfect for you. Being held on July 10, 2022, this event is brought to us by Hoodoo Adventure Company. Two distances to choose from, including a 11km trail with 633m elevation gain or a 32km trail with 1940m elevation gain. Both of these trails will leave you in awe after trekking on dirt roads, around lakes, atop ridges, and featuring amazing mountain views.

April Real Estate Stats

April, finishing up the first quarter, was a fairly strong month for real estate at the resort. Keeping up with the previous months thus far 2022. April saw 13 sales, a 40% decrease from April 2021, but saw an average sale price increase of 32% from the previous April. The average days to sell continues to see a decrease from April of 2021 and the homes at the resort are sitting on the market an average of 45 days.

21 new listings hit the market during the month of April, and the close to list price on sold listings was 98%.

As of today, May 9th, there are 47 active listings at Big White Ski Resort. These listings range from a studio units for under 200k all the way up to multi million dollar chalets.

Feel free to reach out and contact me with any question you have about Big White, the summer season, and what’s happening in Real Estate!

Get Ready for Summer at Big White

April 5, 2022 marked the last day of the Winter 2021/2022 season. You know what that means now? It’s time to get ready for summer at Big White!

This years summer season will start on June 30th and run until September 5th, 2022. Last summer it was incredible to see the events and amount of action we had even with restrictions were in place and we are excited this summer to pump it up to the next level because this summer is sure to be jam packed with events for the entire family. It’s very exciting to see the resort thriving and people being able to get outdoors more. Because as you know, it’s better to be outside!

Events

Big White Resort is bringing back many favorites like Craft & Country Music Festival, Freeride Days, Mountain bike boot camps and Spartan Race. You can find all the details about the resort’s summer events here.

The Annual Big White Community Clean Up takes place on June 11th, prior to opening day, to ensure the resort is in tip top shapes after all of the snow has melted. There is also a complimentary BBQ & t shirt for those who participate. Disposable gloves and garbage bags will be provided after registration which takes place at 9am in the Village. For further information click here.

New Developments

There is more than just events happening at the resort. There are multiple new developments underway. This is exciting and promising to see as more and more people are interested in buying a piece of beautiful Big White Ski Resort. Modern mountain living is coming and some pre-sales are already happening!

Monashee Ridge at Big White is mountain living at its best! Ski-in and ski-out, these single family homes boast spectacular views, modern mountain designs and low strata fees. Phase 1 has already sold out, so make sure to get your foot in the door for phase 2…coming soon!

Vita Residences at Black Forest by K West Homes are affordable smart, fully furnished studios starting at $399k. A $60M development, there will be 200 condos located just 50m from the base of the Black Forest chair lift.

Two more developments in Black Forest, Wild Wood and Blackhawk, are scheduled to commence in Fall 2022. Wild Wood will consist of 24 lots (single family or duplexes) with homes starting at $900k and Blackhawk will offer 16 townhomes.

Spyglass at Big White, luxury townhouses in Happy Valley, is currently constructing their final phase of 27 units. These townhouses are scheduled to be move-in ready for the 2022/23 ski season!

Big White Stats

April has continued to be a strong real estate market. The average sale price thus far is $850,613 – with a total of 8 properties being firmed up this month. The average days to sell since the beginning of the year is sitting at just 41 days. The same time frame last year we were seeing an average of 57 days on the market for a Big White property.

Currently there are 54 properties listed in the Big White area. There are affordable options, starting at 184k, all the way up to multi million dollar townhomes and chalets. The close price to list price is remaining high at 99.1% in April.

The summer season is exciting to watch grow because since 2017, the first summer season open, the resort has absolutely flourished with events, developments, businesses, and relationships all over the globe.

Feel free to reach out and contact me with any question you have about Big White, the summer season, and what’s happening in Real Estate!

Real Estate Year in Review: 2021

What a year 2021 was for Real Estate at Big White Ski Resort! The resort faced many challenges from new covid protocols, major highway closures, and fires threatening the area but has persevered and continues to remain strong.

2021 Year in Review

251 deals were completed during 2021, a jump from the 213 in 2020 but fairly on par. This final number includes lots, single family homes and condos.

Another noticeable jump we saw was the average sale price. In 2020 it was $469,721 and last year, 2021 the average sale price was $516,184. An increase that many owners are happy to see – whether its their investment property or family vacation home.

Even with the average sale price hovered around half a million, we did see studio units go for under 100k! On the flipside we also saw luxury chalets go for over 1.5 million. The gap between highest and lowest sale price is good to see because it means that whatever your budget is, Big White Ski Resort can offer you what you are looking for.

A shocking but welcoming decrease was the average days to sell. Falling down from 101 days in 2020 to just 55 days during 2021. Some homes also sold after 1 day on the market.

Another interesting statistic is the list to close price ratio. While in 2020 it sat at 96.8%, 2021 jumped to 99.1%.

For December 2021 market stats click here

2022 Forecast

2022 is shaping up to be on par with 2021. With many people traveling in from other countries again as well as many locals now purchasing at the resort, real estate is not expected to slow down.

Looking to invest or have questions about your Big White property? Feel free to reach out on my cell 778-231-0308 or contact me here.

Recapping the First Half of 2021

Recapping the first half of 2021 seems like great a way to look back and see how this year has molded not only us as a community, but the community itself. It has been another eventful year where we have experienced, learned, and gained growth. 2021 has provided insight into what the next few years may bring and many exciting things have happened that lead us to that.

Let’s recap the first half of 2021:

Real Estate

As we know, the Real Estate market in BC blew up the first half of 2021. With homes going well above listing prices, flying off the market on the first day, and the lowest inventory we’ve ever seen, the first six months of this year have been wild. 141 sales were completed at Big White Ski Resort from January to currently. If we compare that to the 66 completed deals within the same time frame in 2020, that is a 113% increase in sales. And not surprisingly, the total volume has taken a huge leap from 31 million dollars worth of sales to a whopping 74 million.

Low inventory was a huge factor in the stresses of buyers looking for a home to purchase. We saw the lowest inventory available ever and that created a frenzy for buyers looking. And with that, came an incredible sellers market. Many sellers took advantage of the rising home prices and quick possessions. The average time a Big White property spent on the market this year is 60 days. A 45% decrease from the same time last year.

Big White Ski Resort

The resort itself saw many changes over the courses of these first 6 months of 2021. many COVID-19 protocols were implemented creating a safe place for locals, tourists and workers alike. There were challenges along the way but I think the team at Big White did a phenomenal job pivoting and adjusting as necessary. The Summer season has just begun and already the Village is seeing lots of tourists ready to relax, enjoy, and explore the wonderful outdoors.

Big White Ski Resort also made a huge announcement in January sharing that the resort has massive expansion plans over the next few decades. With more skiing terrain, a golf course, new housing developments, and more this is very exciting for the economy and resort.

No one knew what 2021 was going to bring and after a stressful and unknown 2020 we have adapted as a whole and are driving the changes into this year. The first half has been more than exciting and the rest of 2021 will be a great time to enjoy the growth the first half has brought us.

February Real Estate Stats and Spring Break

As we enter in March there is a lot of action at the resort. Locals in the Village, a bustling real estate market, and spring break approaching Big White Ski Resort is a great place to enjoy the outdoors. As you may know, the end of last year’s real estate market was heating up and that momentum has continued well into the first quarter of the year. Let’s take a look at the February Real Estates and what Spring Break looks like this year.

February Real Estate Stats

January and February were great months at the resort for the Real Estate market. Year to date, we have seen 57 closed deals, totaling 29 million in volume. The average days to sell in February is down drastically, 43% from last February, at just 51 days. The close price to list price ratio is at 99.3% and last year’s average was 96.8%. Currently there are 85 active listings. There is the most affordable option, a studio apartment for just over $100,000. All the way to luxury chalets listed for 1+ million.

Monashee RidgeNew builds are exciting at Big White and Monashee Ridge offers an incredible option for those wanting a luxury chalet. With ski-in/ski-out access, opulent features and finishings, and a completion date set for 2022, these incredible homes are very impressive. For further information about this development, click here.

It’s not just residential properties that is booming at the resort. Commercial listings are a hot commodity and create a once-in-a-lifetime opportunity for investors. Commercial listings don’t come up often and when they do, everyone wants a piece. View all my current commercial listings HERE

If blue skies and champagne powder is calling your name, don’t miss this opportunity to own your own paradise at Big White Ski Resort.

Spring Break 2021

Spring break definitely looks different then prior years, however; there is still plenty of activities to indulge in with the family. Of course you can hit the slopes on your skis or snowboard or maybe a snowshoe adventure is calling you. Whatever the outdoor activity is, it’s better to be outside. Check out Big White Ski Resort’s website for more information about available activities and COVID protocols.

Be sure to pop by my office (in the village under Snowshoe Sams) to check out all my latest listings, residential and commercial. Alternately, contact me and I’ll get you started on your search and answer any questions you have.

LIVE WHERE YOU PLAY!

Big White Ski Resort is the Place to be!

Big White Ski Resort is the place to be this winter season for anyone looking to get outdoors, breathe in some fresh air, and enjoy that beautiful champagne powder. The resort opened ahead of schedule this year and has had a seamless transition while incorporating all of the governments new protocols and restrictions. The resort has put many new policies to ensure visitors and staff alike are safe and following protocols.

Most are flocking to the mountain during the weekends, but if you get the chance to be there mid-week not only will you receive a discount on passes, but also get the perks of waiting less, skiing more, and fresh tracks!

Real Estate Market

If you are thinking now is the time, for either buying or selling on the mountain, you are absolutely correct. November 2020 saw a 160% increase in the number of sales, and the number of days to sell is also down compared to the same time last year. Over 17 million dollars of real estate was exchanged last month at Big White Ski Resort. As of today there are 69 available listings on the mountain. You can purchase a studio apartment for under $100,000 or a luxurious chalet in Feathertop Estates for $1,675,000.

New at Big White

Recycling! Residents and visitors the resort can now drop off their refundable beverage containers at the region’s first Return-It Express & GO recycling station. This new service was a direct response to the needs of residents and visitors on the mountain. Located at 4500 Big White Rd., the new facility makes recycling easier by allowing drop off pre-bagged beverage containers without sorting them. Another cool feature of this amenity is the fact it is solar powered and housed in a repurposed shipping container. For further information check out this article.

With new snow dropping daily, it’s definitely better to be outside! See you on the mountain, email me, or drop by my office in the heart of the Village! (Right under Snowshoe Sam’s)

LIVE WHERE YOU PLAY