Big White Real Estate Report: Q1 2025 Update
That's a wrap! Big White's lifts have stopped spinning and as the final turns of the season settle into memory we look back at another fantastic season. Big White experienced more than 45cm of new snow over the mid-March-Break weekend, making for perfect late-season powder days and giving us the kind of deep, fluffy turns that will keep us reminiscing for months to come. But let's not forget the incredible work the resort's grooming team provided, night after night, to ensure we were always skiing the best runs around. “It’s the snow!” — and it has been attracting more and more people to our mountain paradise. The Family Day long weekend saw Big White record its second-busiest day ever!
The Big White real estate market continued its show of consistency during the first quarter of 2025 with a steady level of purchaser activity. In total, there were 29 Big White properties sold throughout these past three months, including: 4 private ski homes, 12 townhouses, and 13 ski condos. There were no building lots sold during the period. This marked the first quarter with more than 1 private home sale since the first quarter of last year. The number of sales for the quarter were essentially flat year-over-year (YOY), being just 1 shy of the 30 properties which sold in Q1-2024, however, condo sales are down considerably while townhouse sales were up considerably, a trend that’s been noticeable since Q3-2024.
The average sale price for Q1-2025 was CDN $775,931 which shows essentially no change from the CDN $768,666 recorded in Q1-2024. This figure did jump significantly from the last quarter though when it was CDN $633,503. After the average sale price fell substantially in Q2-2024, when the figure was clearly skewed by the composition of the sales mix, the average sale price has been steadily climbing each quarter since; perhaps further evidence of stability in the market, not just in the number of sales but also in terms of what properties will sell for. Total sales in dollar volume for Q1-2025 was CDN $22.50 Million, which is up 4.4% from CDN $21.59 Million in Q1-2024.
There were 97 listings activated throughout Q1 which is down substantially from the 136 listings activated throughout Q1-2024. An even more important figure though is how many of these properties were actually newly listed properties coming to market. As it turns out only 51.5% were new-to-market, or a total of 50 new listings. This figure is down 16.6% from the 60 new listings that came to market throughout Q1-2024. This decrease in new listings is particularly noticeable because not only are the listings down, but the ratio of sales to new listings is up. Consider that an equivalent of 50% of the number of new listing sold during Q1-2024 but this year that is up to 58%.
Some would say that this lack of new listings is supporting the stability in sale prices since more supply, without a similar increase in demand, would have the effect of downward pressure on sale prices. However, I believe that the demand is there and that the market could use a modest increase in new listings, so long as they were priced appropriately. More selection in a diverse market would result in additional sales without unsettling the balance we are currently experiencing.
Big White Sales Numbers and Values
The average sale price for Q1-2025 was CDN $775,931 which shows essentially no change from the CDN $768,666 recorded in Q1-2024. This figure did jump significantly from the last quarter though when it was CDN $633,503. After the average sale price fell substantially in Q2-2024, when the figure was clearly skewed by the composition of the sales mix, the average sale price has been steadily climbing each quarter since; perhaps further evidence of stability in the market, not just in the number of sales but also in terms of what properties will sell for. Total sales in dollar volume for Q1-2025 was CDN $22.50 Million, which is up 4.4% from CDN $21.59 Million in Q1-2024.
There were 97 listings activated throughout Q1 which is down substantially from the 136 listings activated throughout Q1-2024. An even more important figure though is how many of these properties were actually newly listed properties coming to market. As it turns out only 51.5% were new-to-market, or a total of 50 new listings. This figure is down 16.6% from the 60 new listings that came to market throughout Q1-2024. The lack of new listings is undoubtedly supporting the stability in sale prices as more supply, without a similar increase in demand, would have the effect of downward pressure of sale prices. Having said that, I believe that the market would a modest increase in new listings and so long as they were priced appropriately would show that there is additional demand on the sidelines.
Big White Ski Condos
Looking a little more closely at these numbers, we see that there were 13 condo residences sold at Big White in Q1, a 23.5% decrease in sales activity YOY. This is a huge drop. This small number of condo sales is on par with what we saw last year during the “off-season”. In fact, it was the slowest Q1 since 2013 when there was only 12 condo residences sold. The lowest priced condo sold for just CDN $156,000 and the highest priced condo sold for CDN $1,300,000. The average sale price for Big White condos was CDN $429,423, down 19.2% from Q1-2024 when it was CDN $531,353. This drop in average sale price for condos in Q1 is even more substantially when compared to the last quarter when it was CDN $589,421. With all this talk about stability, what are these numbers actually telling us? Well…. the truth is that they are not telling us much at all. There are two distinct features that significantly impact the value of a condo residence: when it was built (it’s age) and it’s size, and at Big White this is exacerbated because most often the smaller properties are also older properties.
Examining the impact of size and adjusting for it will surely bring us some clarity. Although Q1 saw 13 condo residences change hands, only 3 of those were 2-bedroom condos and even fewer were larger than that. Q1 saw a noticeable shift to the popularity of smaller condo residences; odd, considering that just last quarter there had been twice as many 3-bedroom or larger condos selling than had sold in the same quarter the year before. Nonetheless, while Q4-2024 may have been the quarter for large condo sales, Q1-2025 was the quarter for small condo sales, with 61.5% of condos sold being studio or 1-bedroom suites with an average size of just 498 sq.ft. (46m²). The average size of all 13 condo residences sold was only 739 sq.ft. (69m²), 23.4% smaller than the average size of 965 sq.ft. (90m²) of those sold in Q1-2024. So, condo residences sold for about 20% less but they were about 20% smaller — the sense of stability returns. When you adjust for size you actually see that the average sale price increased to $581.27/sq.ft. ($6,257/m²), up 5.6% from the $550.56/sq.f.t record in Q1-2024; however, this YOY increase is not indicative of an increase in property values but rather it is a ramification of the substantially number of smaller properties selling.
Due to this highly skewed sales mix we saw the vast majority of sales under CDN $500,000. Even those three 2-bedroom condos that sold, all sold for less than CDN $500,000. There was noticeably a segment of the market that was missing. Just last quarter, 56% of all condos sold reported a sale price between $500,000 and $800,000; however, Q1 saw none — absolutely zero! Had there been even a few that average sale price figure would have been substantially higher.
The most popular building this quarter was Stonebridge Lodge in the Village Centre with two sales. No other building or condo complex had more than 1 sale. The fastest sale occurred within just 9 days of the public listing and the longest took 461 days. The average time on the market was 119 days which was 16% shorter YOY.
Ski Condo Inventory
Now let’s take a deeper look at inventory trends for condo residences. At the onset of Q1 there were 54 condo residences already on the market and the quarter saw an additional 30 ski condos come to market. 20% of those new-to-market condo residences sold during the quarter with most of the others still for sale. Several properties came off the market without a successful sale we now have 64 condo residences publicly listed for sale as we move into Q2. Thus, Big White condo inventory is only up 16.4% YOY. Even if the number of sales continue at the current pace we have 14.8 months of inventory already. With those 64 condos that are currently for sale having been on the market for an average of 188 days already and only 35.9% of the existing inventory has been on the market for less than 90 days, once again condo inventory is aging and is likely to age further as we progress through the seasonally slower Q2. New, appropriately priced inventory is what is needed to drive demand. Furthermore, an increase in competition will have the effect of "“shaking the tree” and those that are currently aging on the market will be more likely to come to terms with market valuations or take their properties off the market. With that said, it’s important to remember that the Big White real estate market is quite small and at times not incredibly liquid. A property that sits on the market for 200 or even 300 days is not inherently flawed or priced incorrectly, it may simply take time to find the right purchaser for a particular property.
Something that stood out to me this quarter was that nearly two thirds, 61.5% of the properties sold in Q1 had been on the market for less than 60 days. The majority of these properties were also smaller and older properties at a low price point; was that the reason for their quick success? Or were there other factors? Or was the market simply picking up some momentum. It can be challenging to know for sure.
With inventory up but sales down, I can’t help but think about what other factors might be at play. You may recall that earlier I noted there had only been no condo residences sold between $500,000 and $800,000. Were there none listed for sale in that price range? No, that’s not it. At the end of Q1 there were 20 condo residences for sale in that price range. Interestingly, for several years now, this price range coincides most with 2-bedroom properties, a segment that also saw an unusually low showing in the Q1 sales mix with only 3 transactions. Was there no selection of 2-bedroom condo residences for purchasers to choose from? No, that’s not it. At the end of Q1 there were 22 such condo residences listed for sale and, back to the price range, half of them were priced between $500,000 and $800,000. Look closer though and you’ll see that more than a third, 36.3%, of the 11, 2-bedroom properties for sale are in Sundance Resort leaving few other options spread across the entire resort. Popular buildings and condo complexes such as The Timbers, South Point, Spyglass, and Stonebridge Lodge, have no 2-bedroom inventory for sale.
Of the 64 condo residences currently for sale, the average asking price is CDN $590,205 and the average size is 971 sq.ft. (90m²). On an adjusted-for-size basis, these condo residences are seeking a valuation at $607.83/sq.ft ($6,543/m²). This is significantly higher than the average sale price which was CDN $429,423 for Q1, and not too far from, but definitely higher than the adjusted-for-size average price of $581.27/sq.ft ($6,257/m²). The average sale price in Q1 was $34,392 less than the original list price, with numerous properties reducing their asking price before attracting a purchaser’s eventual offer. This figure represents an average price concession of 7.4% from the original asking price.
Big White Townhouses
Now looking at townhouses of which 12 Big White townhouses sold in Q1. This represents a 20% increase in the number of transactions YOY. The lowest priced townhouse sold for CDN $477,000 and the highest priced townhouse sold for CDN $1,750,000. Yes, that’s right, almost $2M for a Big White townhouse. The average price for Big White townhouses was CDN $976,792, up a significant 20% from CDN $813,600 in Q1-2024. In fact, Q1 had the highest average sale for townhouses on record! The number of sales is also at a near-record and among the closest we’ve ever seen between condos and townhouses which is arguably a trend over the past three quarters; there has been a shift in demand from purchasers for condos to townhouses and I believe the reason lies in the details, and it’s all about value.
Thee average size of a townhouse sold in Q1 was 2,028 sq.ft. (188m²) compared to just 1,623 sq.ft. (151m²) in Q1-2024. So while the average sale price is up by 20%, the average size of those properties sold has risen by 24.9%. On an adjusted-for-size basis Big White townhouses have actually seen a modest decrease in average sale price since Q1-2024, down 3.9% YOY. There adjusted-for-size average price in Q1 was $481.73/sq.ft. ($5,185/m²). When it comes to value though there are a couple points worth absorbing here. First, if you look back over the past few years you’ll see that on an adjusted-for-size basis, townhouses have typically been selling at about a 10% discount to condo residence. For the past two quarters that’s been closer to 20%. Purchasers are getting more living space and value-added features like a grade level entrance and private garage parking, for less money on an adjusted basis. Secondly, when considering the effects of the diminishing return relationship between living space and price per unit of living space it’s not a linear comparison and if you look just at the results of this past quarter, that 3.9% decrease in adjusted-for-size average sale price does not likely offset the effects of a sales mix that is an average of 20% larger. For perspective consider this: In Q1-2024, a 1,600 sq.ft. townhouse selling at the average sale price of $501.39/sq.ft. ($397/m²) would have sold $802,224. In contrast, a 2,000 sq.ft. townhouse selling at the current average sale price of $481.73/sq.ft. ($5,185/m²) would have sold for $963.460. You see, the price per square foot drops, but the price for a typical property sold rises by $160,000, and when it comes to value, a purchaser gets an additional 400 sq.ft — an extra bedroom, an extra bathroom, and an extra bedroom, all for just $400/sq.ft. on the “extra space”.
Of the 10 Big White townhouses sold in Q1, 6 of them are between 1,500-2000 sq.ft. (139-186m²) in size so we will call those “typical size”. If we look at just this subset of the composition we can see they sold between $735,000 and $885,000. With 5 of 6 coming in even more tightly between $806,000 and $885,000. The average sale price was $826,833 and the average size was 1,654 sq.ft. (154m²). These average figures are very much inline with the overall stats noted earlier. Where it gests interesting is when you look at the same size townhouses that sold in Q1-2023 — there were only 2 of them, which is not a great sample size, nonetheless, the average sale price was $974,350 and the average size was 1,758 sq.ft. (163m²). On an adjusted for size basis, Q1-2024 typical size townhouses sold for $499.89/sq.ft. ($5,380/m²) while Q1-2023 typical size townhouses sold for $554.23/sq.ft. ($5,966/m²), 9.8% less.
No one townhouse community saw more than one sale during the quarter and unlike during the previous quarter there was no particular neighbourhood on the mountain that appears to be more popular than another. We saw townhouses sell in Happy Valley, White Forest, in Sundance Resort, in the Village, and in Snow Pines. The lowest priced sale was a 2-bedroom townhouse in Whitetail in Happy Valley which sold for $490,000. The highest priced sale was a 4-bedroom townhouse in The Pinnacles in the White Forest neighbourhood which sold for $1,085,000. The fastest sale occurred within just 18 days of the public listing and the longest took 269 days. The average time on the market was 139 days.
Townhouse Inventory
Now let’s take a deeper look at inventory trends for townhouse ski homes. Q1 began with 33 townhouses on the market and throughout the past three months another 14 came to market. New listings are up by only a hair from the 13 that came to market in Q1-2024; however, with the strong demand for townhouses we are left with just 30 townhouses for sale as we head into Q2. At the current pace we have only 7.5 months of inventory already or about half of what’s available for condo residences. This makes two quarters in a row where we’ve seen relatively low numbers of new townhouse inventory compared to the number of sale, with just 10 properties coming to market in Q4-2024.
The average time on the market for townhouses currently for sale is 230 days even though 30% of these were new to market during Q1. At the end of Q1 last year I wrote about aging inventory and that has not changed, in fact, current inventory has now been on the market for 34.5% longer than it had a year ago. 20% of townhouses for sale have been on the market for a year already and another 33% have been on the market for 6 months.
Of the 33 townhouses currently for sale, the average asking price is CDN $892,597 and the average size is 1,732 sq.ft. (1761m²). On an adjusted-for-size basis, these townhouses are seeking a valuation at $498.10/sq.ft ($6,314/m²). This is below the average sale price which was CDN $976,792 for Q1 and is quite tight with the adjusted-for-size average price of$481.73/sq.ft. ($5,185/m²). What’s more is that the average sale price in Q1 was only $42,650 less than the original list price, with numerous properties reducing their asking price before attracting a purchaser’s eventual offer. This figure represents an average price concession of 4.2% from the original asking price. Townhouse inventory is remarkably reasonable which further adds to the conversation about the value these properties represent.
Big White Private Ski Homes
Now looking at private ski homes of which there were just 4 that sold in Q1. The average sale price was CDN $1,299,50 which represents a 34.4% decrease from Q1-2024; however, is not a useful data point. Sales included two duplex homes in Snow Pine Estates and 2 detached homes in the neighourhoods of Feathertop Estates and White Forest Estates built after 2000. The homes in Snow Pine Estates sold for an average price of $1,006,500. The average size of those two homes was 2,280 sq.f.t. and the adjusted-for-size average sale price was $439.52/sq,ft. The two newer homes were also larger with an average size of 2,666 sq.ft. and had an average sale price of $1,592,500. Their adjusted-for-size average sale price was $597.33/sq.ft.
When attempting to make a comparison to Q1-2024 you need to give consideration to the sales mix. Both of the homes that sold that quarter were newer but one was much newer and sold closer to what it would cost to build a brand new home today. The other property was among the smallest homes in Feathertop Estates and while it sold at a lower price point, it sold at a relatively high price per square foot. The adjusted-for-size average sale price in Q1-2024 was $799.68, so although even if you excluded the older, duplex homes in Snow Pine Estates, we see that on an adjusted basis, the average sale price of comparable private homes has come down by 25.3%; however, I would argue they are still not quite comparable. Nonetheless, I believe that private homes at Big White have seen modest decreases in value over the past year due primarily due to the great value of the townhouse alternative.
There are currently only 7 private homes currently publicly listed for sale, 2 of which are priced above $4M. There is really not much selection so if you’re looking for a private ski home your best bet might be to purchase a lot and build your own custom home.
Big White Building Lots
Once again there were no building lots sold at Big White in this past quarter. When it comes to inventory, we began the quarter with 10 vacant building sites on the market and now we have 12. What’s even more telling is that 9 of these building lots have now been on the market for more than a year with a handful approaching or already more than 2 years. If you’ve thought about buiding your dream ski home at Big White now is the time to start making offers. Somebody wants to sell more than the others and there won’t possibly be a better time to get a deal.
Want to know what’s been selling in your building or Big White community?
Here’s a look at some of what sold in Q1 — 2025
Ski Townhouse
22 - 5085 Snowbird Way - a luxurious ski-in/ski-out, duplex-style, townhouse in The EDGE just up the hill from the Gondola. This 4-bedroom and 4-bathroom townhouse offered a total of 2,121 sq.ft. (1947m²) across three floors of living space. This community captures everyone’s attention as they take the gondola up between its homes with their modern mountain aesthetic — expansive glass windows and butterfly roof design. Premium finishes include hardwood floors and granite countertops and amenities include a gas fireplace, private hot tub, and one private garage parking spot.
Learn more about The EDGE at Big White.
95A Forest Lane - a spacious 3-bedroom, 3-bathroom duplex style ski home in the quiet community of The Forest. This ski home offered a total of 1,545 sq.ft. (144 m²) across three levels of living space. Exposed timber beams and joist on the main floor, combined with wood flooring, cabinets, and trim throughout provide that exceptional warmth of a classic ski cabin. This home has a wonderful layout fit for the mountain lifestyle. The upper level is the social level where you start your day sitting around the breakfast table, relax with some après ski beverages, and sit around the fireplace playing board games. The lower levels are where you’ll find the three bedrooms and another patio with a private hot tub. Ski-in directly to your door from Serwa's ski run.
Ski Condo
#107 - 5255 Big White Road - a 1-bedroom, 2-bathroom, ski-in/ski-out resort condo built in 2002 offering 710 sq.ft. (66 m²) of living space. Advertised as, “A thoughtfully designed, turn-key space including a gorgeous primary suite and queen sized pull out couch in the living room. The open-concept living area is perfect for après ski relaxation, while the private hot tub on the deck offers breathtaking mountain views.” At Stonebridge Lodge Resort you are located in the heart of the Village and right between the Easy Street and Woodpecker ski runs, and benefit from on-site restaurants, an on-site day spa, heated outdoor pool and hot tubs, and more.
#414 - 250 Feathertop Way - a fantastic ski-in/ski-out condo residence in Copper Kettle Lodge is located immediately adjacent the Shortcut Ski run and just up the hill from the Black Forest Express chair lift. A top-floor, corner suite offering 3 bedrooms and 2 bathroom across a sprawling 1,857 sq.ft. (172m²) of living space this 2006-built condo is the perfect place to relax and enjoy family time before and after a day on the mountain. Located in Big White’s only concrete building but you wouldn’t know it thanks to the wood finishings throughout including timber ceilings. Advertised as having, “unparalleled craftsmanship and sophisticated upgrades. Flooded with natural light from oversized windows, every room offers breathtaking views of the Monashee Mountains,” this Big White condo is definitely a remarkable property.
Private Ski Homes
270 Moonshine Crescent - This custom ski home offers 4-bedrooms and 3-bathrooms across its three floors totalling of 2,819 sq.ft. (262m²) of living space. Advertised as, “boasting two family rooms that provide ample space for gatherings and quiet evenings alike. Step outside to your private hot tub, where you can unwind and soak up the serene mountain views after a day on the slopes.” This home actually has 3 balconies. Inside, the home was lightly updated with dark wood ceilings and floors, and a crisp white kitchen with granite countertops. This home included a double garage plus additional outdoor parking spaces.
What does the future hold?
The stability observed in the Big White real estate market over the past year appears poised to continue as we move through Q2 and into the slower months of Q3. Prices have come down from their 2022 highs and now appear to have found a floor. Interest rates are down about 1.5% from their peak, and importantly, it remains virtually impossible to build a new home or condo on the mountain for less than the cost of a resale. These are all indicators that—if not flat—the future direction of the market is more likely to be upward than downward. In addition, Big White's record-breaking skier visits and strong accommodation occupancy rates this past season reinforce the appeal of owning at the resort—particularly for those looking to offset ownership costs with rental income. Unlike many other resorts, Big White doesn’t have a large hotel operator with hundreds of rooms; instead, it relies on private owners who both enjoy and help power the resort experience. It's a unique, symbiotic relationship between lifestyle seekers and the lift company, and it's one that continues to attract new buyers year after year.
Of course, no market exists in a vacuum. A Canadian federal election is on the horizon, and stock market worries and trade tariffs have dominated the news headlines as of late. Globally, economic uncertainty persists, and while inflation has cooled, affordability remains a pressing concern for many, as does the outlook for economic growth. Still, Big White continues to offer something that’s hard to quantify but easy to recognize: value. Whether it’s the value found in a well-priced ski condo, the square footage and amenities of a townhouse, or the dream of building a custom ski home, Big White’s real estate market continues to offer opportunities. This is especially true for those who are patient, prepared, and ready to act when the right property comes along.
As always, I’ll be keeping a close eye on the numbers and the nuance — watching the data, listening to the market, and being of service to purchasers and sellers as they navigate every turn. If you’re considering buying, selling, or just want to understand where your property fits in this evolving market, now’s a good time to have a conversation.
Within the past couple of weeks Big White Ski Resort began sales for a new boutique subdivision along Black Forest Road across from The Glades which saw it’s first home begin construction late last year. I’m told that the Cambria Creekside townhouse development on the corner of Black Forest Road and Big White Road is going to break ground this Spring and has had a solid number of inquiries come in through the Winter season. This continued development is a bet on the future of Big White real estate and I do believe that those that get in now will be happy they did.
With existing ski condos listed for sale have been on the market for an average of 188 days and existing townhouses have been on the market for an average of 230 days, our existing inventory has been around for awhile. The questions for existing sellers is undoubtedly, will I achieve success in a sale at a lower price or do I simply need to wait for the right purchaser to come along. We are likely to see some sellers elect to reduce prices and others to stand firmly. I believe that sales numbers will come down as would be seasonally expected in Q2 but that more inventory will ultimately be the deciding factor. Even in the case for condo residences where we have 14.5 months of inventory, I believe that there are purchasers that want a place in buildings like South Point and The Timbers where we haven’t seen many, if anything for sale and sellers could actually see success quickly.
For purchasers, there are some properties currently for sale that I believe represent really good value. In light of the aging inventory — if you’re ready to make a purchase, it’s time to write an offer. Don’t be afraid to ask for a lower price. Be reasonable because you will get a better deal negotiating that you will waiting for the seller to come down in price. While there may be some downside risk, with a long enough time horizon, that risk is small… and your children and grandchildren aren’t getting any younger so if you’ve been dreaming about owning a place on the mountain, could there be a better time?
Below is a quick summary of the numerous new construction projects underway:
New Construction Townhouse
Cambia Creekside Residences — in the new Black Forest neighbourhood
Sundance Resort — the continuation of the existing Sundance Resort community
New Construction Private Ski HOme
The Glades at Big White — in the new Black Forest neighbourhood
Black Forest Homes — building lots and custom home options along Black Forest Road
Monashee Ridge — building lots and custom home options below the Serwa’s ski run
I hope you have made some fantastic memories with friends and family at Big White this year. I look forward to updating you again as we welcome yet another Summer season 3 months from now. Until then, take care!
Thinking about purchasing at Big White? Check out these Featured Listings available now.
