Luxury realtor John Ryan says an architecturally breathtaking estate and its neighbouring parcel have set a record for the highest-priced real estate deal in Whistler’s history.
The home on a large plot — about three average city blocks in size — in Whistler’s Stonebridge neighbourhood, designed by internationally acclaimed firm Bohlin Cywinski Jackson, sold for a record $32 million.
Ryan says he has participated in 90 per cent of sales so far in Stonebridge, and the spectacular property at 5462 Stonebridge Dr. is the most monumental yet.
“I’ve never seen anything like it personally. It is incredibly unique,” says Ryan. “This is by far the most exciting home ever to hit the market in Whistler architecturally.”
The architects, led by Robert and David Miller of Bohlin Cywinski Jackson, wanted the home’s design to highlight its dramatic location.
“Significant elements include the blue glass arrival court, the lawn area defined by the golden spiral, the curving cable-hung stair that doubles as an art installation, the various cantilevered decks that visually extend interior spaces into the landscape, grotto spa, and the 25-metre pool that is both cut into and cantilevered out from the cliff edge,” says the team — all aimed at creating “a visceral connection to nature.”
Ryan says there are many high-end homes in Whistler valued in the $30 million to $50 million range, but most never hit the market. He says, “this sale will shift the needle in the high-end real estate market.”
Whistler is exempt from the federal foreign buyer ban and the provincial speculation and vacancy tax. Ryan says that, along with a declining Canadian dollar, make Whistler a global attention-getter.
“They are loving and supporting the community,” says Ryan. “They are at the local gym every day, they are biking and hiking, and they are entrenched in the dining scene. They are absolutely blown away by what Whistler has to offer.”
The plan is for the adjacent lot at 5458 Stonebridge Dr. to be integrated seamlessly with the existing home.
Ryan says he has sold more Whistler real estate, based on cumulative number and total dollar value, than anyone else from 1988 to present. He has sold over 50 developments, including the Four Seasons Private Residences and the Stonebridge and Kadenwood neighbourhoods.
TORONTO – The Toronto Regional Real Estate Board says home sales in October surged as buyers continued moving off the sidelines amid lower interest rates.
The board said 6,658 homes changed hands last month in the Greater Toronto Area, up 44.4 per cent compared with 4,611 in the same month last year. Sales were up 14 per cent from September on a seasonally adjusted basis.
The average selling price was up 1.1 per cent compared with a year earlier at $1,135,215. The composite benchmark price, meant to represent the typical home, was down 3.3 per cent year-over-year.
“While we are still early in the Bank of Canada’s rate cutting cycle, it definitely does appear that an increasing number of buyers moved off the sidelines and back into the marketplace in October,” said TRREB president Jennifer Pearce in a news release.
“The positive affordability picture brought about by lower borrowing costs and relatively flat home prices prompted this improvement in market activity.”
The Bank of Canada has slashed its key interest rate four times since June, including a half-percentage point cut on Oct. 23. The rate now stands at 3.75 per cent, down from the high of five per cent that deterred many would-be buyers from the housing market.
New listings last month totalled 15,328, up 4.3 per cent from a year earlier.
In the City of Toronto, there were 2,509 sales last month, a 37.6 per cent jump from October 2023. Throughout the rest of the GTA, home sales rose 48.9 per cent to 4,149.
The sales uptick is encouraging, said Cameron Forbes, general manager and broker for Re/Max Realtron Realty Inc., who added the figures for October were stronger than he anticipated.
“I thought they’d be up for sure, but not necessarily that much,” said Forbes.
“Obviously, the 50 basis points was certainly a great move in the right direction. I just thought it would take more to get things going.”
He said it shows confidence in the market is returning faster than expected, especially among existing homeowners looking for a new property.
“The average consumer who’s employed and may have been able to get some increases in their wages over the last little bit to make up some ground with inflation, I think they’re confident, so they’re looking in the market.
“The conditions are nice because you’ve got a little more time, you’ve got more choice, you’ve got fewer other buyers to compete against.”
All property types saw more sales in October compared with a year ago throughout the GTA.
Townhouses led the surge with 56.8 per cent more sales, followed by detached homes at 46.6 per cent and semi-detached homes at 44 per cent. There were 33.4 per cent more condos that changed hands year-over-year.
“Market conditions did tighten in October, but there is still a lot of inventory and therefore choice for homebuyers,” said TRREB chief market analyst Jason Mercer.
“This choice will keep home price growth moderate over the next few months. However, as inventory is absorbed and home construction continues to lag population growth, selling price growth will accelerate, likely as we move through the spring of 2025.”
This report by The Canadian Press was first published Nov. 6, 2024.
The Canadian Press. All rights reserved.
HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.
Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.
Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.
The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.
Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.
They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.
The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.
This report by The Canadian Press was first published Oct. 24, 2024.
The Canadian Press. All rights reserved.
Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.
Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.
Average residential home price in B.C.: $938,500
Average price in greater Vancouver (2024 year to date): $1,304,438
Average price in greater Victoria (2024 year to date): $979,103
Average price in the Okanagan (2024 year to date): $748,015
Average two-bedroom purpose-built rental in Vancouver: $2,181
Average two-bedroom purpose-built rental in Victoria: $1,839
Average two-bedroom purpose-built rental in Canada: $1,359
Rental vacancy rate in Vancouver: 0.9 per cent
How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent
This report by The Canadian Press was first published Oct. 17, 2024.
The Canadian Press. All rights reserved.
Freeland says she’s ready to deal with Trump |
NASA astronauts won’t say which one of them got sick after almost eight months in space
43 monkeys remain on the run from South Carolina lab. CEO thinks they’re having an adventure
Freeland rallies a united front ahead of Trump’s return to White House
Deputy minister appointed interim CEO of AIMCo after Alberta government fires board
Montreal says Quebec-Canada dispute stalling much-needed funding to help homeless
S&P/TSX composite index down Friday, Wall St. extends post-election gains
Mitch Marner powers Matthews-less Maple Leafs over Red Wings
