Big White Real Estate Report: Q3 2020 Update
October has arrived. Looking back it’s been one strange year of unexpected changes to the way we all go about our lives. There is now just two months left before opening day at Big White and we are all very excited to get back on the slopes, especially after having to cut this past season short earlier in the year.
The Summer of 2020 was a little bit different this year just like everywhere else. This was the 3rd summer for the resort operating Big White Bike Park and Hiking Trails. Opening for the summer season was a little bit delayed but well worth it for those that took advantage of getting outside and exploring the alpine meadows and pine forests that make up Big White in the summer. With international borders closed around the world in an effort to slow the spread of COVID-19, Canadians are thinking a lot more about exploring their own backyards and other visiting other parts of the country. Looking at Big White real estate for the third quarter of 2020, they must be thinking about coming to ski! There were a total of 71 Big White vacation properties sold in the third quarter of 2020! This included 7 detached private ski homes, 4 private duplex homes, 18 townhouses, 39 ski condos, and 2 building lots. The number of sales is up again over Q3 last year with an increase of 65.12%
Big White Sales Numbers and Values
The average sale price of Big White real estate skyrocketed last year and although values for some segments are up the average has come down slightly. The average sale price for Q3-2020 was CDN $431,796 compared to CDN $452,815 in Q3-2019. Total sales in dollar volume has jumped substantially to a total of CDN $30.66 million compared to the CDN $19.47 million for Q3-2019. These are fantastic numbers for families and investors who own Big White real estate!
Looking a little more closely at these numbers, we see that of the 39 condo residences sold at Big White in Q3, the lowest priced condo sold for just $85,000 and the highest priced condo sold for CDN $775,000. The average sale price for Big White condos was CDN $342,762. This is very much on par with the average from Q3-2019 when it was CDN $349,579. However, if you look at what sold you’ll notice that 4 condo residences at The Inn at Big White and 1 at Whitefoot Lodge sold for less than CDN $100,000. In Q3-2019 only 1 condo residence sold under $100,000. This shows us that the sale of condos under $100,000 increased by 500% while condo sales overall increased by only 62.5%. If you remove the sales under $100,000 for both years and compare then, you’ll find that the average sale price this past quarter jumps to CDN $379,512, up a solid 5.16% from the CDN $360,887 in Q3-2019. The top selling condo building for Q3 was The Inn at Big White in the Big White Village with 5 ski condos selling there. Of the higher end vacation condos, Stonegate, also in the Big White Village saw the most sales with 4 selling. One of them had been on the market since January 2019, one since February, one since June, and one since July.
Now looking at townhouses of which 18 Big White townhouses sold in Q3. The lowest priced townhouse sold for CDN $290,000 and the highest priced townhouse sold for CDN $785,000. The average price for Big White townhouses was CDN $522,786. This average price is down only slightly from Q3-2019 when it was CDN $540,465. The new Grizzly Ridge Estates was then most popular townhouse development having sold 3 beautiful homes. We also saw sales in developments including The North, The Legend, Perfection, Tree Tops, and Bears Paw. The highest price townhouse sale was an impressive 4-bedroom in The North which had been on the market for less than 2 months when it sold for $785,000. Just like Q3 last year, the lowest price sale was in Trailside Heights which sold for $290,000 after only 1 month on the market!
Now looking at private ski homes. A total of 11 vacation homes sold at Big White in Q3, 7 detached and 4 duplex. The lowest priced ski home sold for CDN $420,000 (a leasehold property) and the highest priced ski home sold for CDN $964,500. The average price for freehold Big White homes was CDN $684,480 which was just slightly below the average of $704,786 for Q3-2019. Taking a deeper dive on valuations we can see that Big White homes sold for an average of CDN $305 per square foot or CDN $3,288 per square metre compared to an average of just CDN $318 per square foot or CDN $3,422 per square foot in Q3-2019. Over the past quarter there were 2 neighbourhoods that really stood out with 4 private ski homes selling in The Forest and 3 private ski cabins selling at Bullet Creek Cabins in White Forest Estates.
Here’s a look at some of what sold
Detached Family Ski Homes and Multiplex Homes
580 Feathertop Way - named Artist’s View, this a beautiful custom home built in 2007 in the exclusive Feathertop Estates neighbourhood. This home is a 3-bedroom plus den, 4-bathroom, ski home sprawling over 2,350 sq.ft. (218 m²) of living space across 3 levels. Advertised as having, “Breathtaking unobstructed views of the Monashee Mountains and Valley below, high quality furnishings that take advantage of the lot and surrounding geography. Stainless steel appliance, granite countertops, and both gas and electric cooking, Butler’s pantry with beverage fridge, wet bar, steam shower and heated tile floors. A centre island in the kitchen for informal eating and a massive dinning room table for easy entertaining.” There is no doubt the new owners will absolutely love their new mountain getaway for the upcoming ski season at Big White.
#18 - 200 Moonshine Crescent - one of the renowned Bullet Creek Cabins in the White Forest Estates neighbourhood, this private ski home is a 4-bedroom, 3-bathroom, ski home sprawling over 2,2867 sq.ft. (212 m²) of living space over a total of 3 levels including the basement level which also has a double garage. Advertised as having, “20' vaulted ceilings, hardwood and heated tile floors, 3 fieldstone fireplaces, and both a games room and a large great room,” you can imagine everyone in your family enjoying this cabin in the woods. Although these ski homes do not become available often, this was the 3rd Bullet Creek Cabin to sell this quarter. Wow, Big White properties are really on the move.
65A Forest Lane - a dream ski-in/ski-out private duplex ski home in The Forest just below Serwa’s ski run. This home is a 3-bedroom, 4-bathroom, 2-storey with a total of 1735 sq.ft. (161 m²) of living space. With its open layout, South facing windows flooded with sunshine, and private hot tub with a beautiful mountain view, it is easy to see why the Seller’s claimed they were able to generate $90,000 in gross rental income in the year before selling.
Ski Townhouse
210B Grizzly Ridge Trail - the new Grizzly Ridge Estates development adjacent the original Snow Pine Estates was the popular place for families looking for their own little place in the woods over the past few months. This particular home is modern duplex style town house with 3-bedrooms, 4-bathrooms, and a total of 2019 sq.ft. (188 m²) of living space. A standout benefit is the triple car garage. The owners here can invite their friends and family to join them for the weekend with space to park and space to sleep.
Ski Condo
#407 - 7700 Porcupine Road - a fantastic ski-in/ski-out condo in the desirable Aspens condo building at the top of the Village neighbourhood. This 3-bedroom, 3-bathroom, ski condo built in 2007 offers a sprawling 1,752 sq.ft. (163 m²) of living space. Advertised as, “an exquisite unit boasting granite, hardwood floors, a steam shower, heated slate floors and Swarovski Crystal lighting fixtures. Look out on to the slopes from the hot tub on the rear deck and take in southern views of the Monashees from the front deck.”
#3-406 - 375 Raven Ridge Road - Stonegate in the Big White Village is always a top spot; a ski-in/ski-out resort style complex that is steps from the Village Center. This 3-bedroom, 2-bathroom, penthouse ski condo built in 2008 offers a spacious 1,354 sq.ft. (125m²) of living space. Advertised as, “the best in finishings and furnishings!” Here you can also take in views of the Monashee Mountains or watch the kids play in the complex’s heated outdoor pool below. Stonegate also features other amenities including a jaccuzzi, theatre room, rec/games room, and exercise room. Learn more about Stonegate Resort at Big White.
