There is no doubt that we have been seeing a slight down turn in the median home prices since Spring of this year. This is partly due to more inventory being available and the rising mortgage rates. Big White Ski Resort, among other ski resorts in Canada, have avoided the correction and are predicted to only see a 3% decrease in median price on high-end homes.
Big White Ski Resort and other ski resorts have remained strong within this market due to foreign buyers motivated to purchase before the ban takes place, which is on January 1 2023. However, Big White Ski Resort is exempt from the ban, making it a great area to purchase as a foreign buyer.
Another reason is that even though the mortgage rates are higher than normal, when people purchase at a ski resort it is more than likely a second home. With that in play, many people take out equity in their primary home in order to purchase their secondary vacation home. So there is no need for a mortgage and the rising rates won’t deter them from a purchase.
Big White Homes
The average sale price for Big White homes in 2021 was $490,000. When you compare that to this year’s (to-date) average sale price at $606,000, it is quite an increase and confirms that the resort has not seen the dip that was expected.
That being said, prices have slightly shifted but sellers who bought within the height are still gaining profit in their sale, just with a slight price decrease if you compare it to earlier this year.
There are currently 76 Big White Homes listed at Big White Ski Resort and with an array of options available, there can be a property found whatever your budget may be. If you or someone you know is looking to buy or sell at Big White Ski Resort, you can reach out to me here.
What have the last two years of rental bookings looked like at Big White ski resort?
Due to the COVID-19 pandemic and the resulting restrictions on the hospitality industry, rental
bookings at Big White have been down the last couple of years. However, construction on the
mountain has continued unabated, with demand for accommodation in the Okanagan, and at Big
White, higher than ever. Come rain, snow, or COVID, people are continuing to visit from all
over the world to enjoy the world-class amenities and champagne powder snow that only Big
White has to offer.
Locations Mountain Management Services has continued to serve more and more owners
looking to rent out their properties in the off-season as well as the ski season. We get inquiries
every day from owners about property management, rentals, and cleaning services. We are
fortunate to be doing relatively well in tough times and can only imagine how things will boom
when the good times return.
Summer and shoulder season rental bookings?
We like to place guests in our owners’ properties for the entirety of the off-season (summer and
shoulder season). This way the owners earn more than through daily or short-term rentals in the
off-season, which are always significantly less than the ski season. This is revenue that our
owners would not normally expect to get; it’s money in their pockets. The Okanagan is one of
the most desirable places in Canada to live, and accommodation is scarce and can be expensive.
Guests looking to relocate often move into a property at Big White while they find a longer-term
rental solution in Kelowna.
What do you foresee for future rentals at Big White?
When the restrictions end and people feel safe and secure to travel freely once more, the sky’s
the limit. The demand for property and accommodation in Kelowna is extremely high, and this
demand has spilled over into Big White, where inventory is low and prices are high. Even in
these challenges times, homes, townhomes, and condos in Big White are receiving multiple
offers and selling at or above asking price.
Big White is Canada’s No. 2 ski resort. There are other ski runs in the Okanagan, but none can
match Big White for the number of runs, level of accommodation, variety of amenities, and
infrastructure. And did we already mention the champagne powder?
What are the most sought after features for rentals?
1. Private hot tub
2. Beds for a reasonable price to accommodate large groups
3. Proximity to the Village and amenities
4. Pet friendly
What types of properties are getting the most rentals?
The most sought-after rentals are 2-4 bedrooms, spacious, with good access to ski runs, and a
mountain view. People are looking for an exciting, emotional, and memorable ski experience.
They want the whole package, and Big White has the runs, the snow, the accommodation, and
the amenities to provide just that. Here are some properties that are available now!
Why choose property management?
You can do all the work yourself: if you’ve got the time, if you’re media savvy, you can prepare
your property, find guests, book them in, communicate with them, be available to answer any
questions they may have, deal with any issues that may arise, book them out, hire cleaners, and
rinse repeat. Or you could hire a property management company like Locations Mountain
Management Services to save you all the work as well as the learning curve. We advertise
through all the major channels, have pricing strategies that will maximize your income, find you
the right guests, and handle all communication, day or night. The number of bookings we can get
for you, and the level of service we can provide to you, easily makes paying our management
commission a worthwhile investment for anyone looking to rent their property.
Locations Mountain Management Services is a local business with their finger on the pulse of
what owners require and guests desire. We provide with full-service property management for our
owners and booking services for their guests. We advertise on our website and all the major
booking channels, including Airbnb, Vrbo, Booking.com, and Expedia. Our amazing properties
sleep anywhere from 4–18 people, are clean and tidy, warm and inviting, and ideally located.
Most properties are Ski In/Ski Out, have Private Hot Tubs, and are Pet Friendly. We offer
discounts on stays over 7 days and 30 days. Our customer service always responds promptly and
efficiently, and our reliable and quality-obsessed in-house cleaning team will ensure your stay is
spotless.
Big White Homes
Big White Homes
What are the most sought after features for rentals?
