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.
People are flocking to the resort to purchase vacation rentals for themselves and their families as well as purchasing investment homes to provide revenue. There are many options for whatever you are looking for in your Big White Ski Resort property. Whether it’s a lot for building your dream chalet, a commercial investment up to $10 million, a studio or anything in between.
