Inside Banff and Whistler, Canada’s Most Luxurious Ski Spots

For a less scene-y experience than in the U.S., expert skiers head to "The True North"

By Laura House

Banff in Alberta, Canada, entices skiers with three easy-to-acess mountains set within a stunning national park and, as a bonus, it’s an easy flight to Calgary from many major U.S. cities.

But skiers intent on tackling something really big should consider the Western coast of Canada, home to Whistler and Blackcomb—North America’s largest ski resort.

“Banff is an iconic destination and Canada's first National Park. The ski hills are very different here from most places as there is no real estate or large village at the base of the hill. The pistes look onto National Park wilderness and have expansive views,” said Christopher Vincent, senior vice president of sales for Sotheby's International Realty Canada. “We have a lot of high-Alpine terrain, a long season and very dry snow that they call Champagne powder. The skiing is a combination of groomed trails, off-piste style Alpine bowls and some big mountain terrain with couloirs (narrow gullies) and steep chutes.”

In Whistler, “we have very strong market conditions with significant domestic and international demand,” said John Ryan of the Whistler Real Estate Co. “The low Canadian dollar is very attractive to international buyers. Plus, easy access from Vancouver airport, an average annual snowfall of over 38 feet, and North America’s two highest lift-serviced vertical mountains with a pedestrian village at their base makes for a magical four-season destination resort.”

Banff

Classic Canadian Rockies skiing combines with an upscale, yet understated, après-ski scene

Surrounded by the majestic peaks of the Canadian Rockies, breath-stealing Banff in the western province of Alberta is Canada’s first national park. It’s also one of the country’s most popular natural playgrounds—particularly during the ski season. With three area mountains—the 139-run Lake Louise ski resort, family-friendly Mount Norquay, and 3,300-acre Sunshine Village—there is something for every level of skier or snowboarder. This year marked the 150th anniversary of the Canadian National Parks, so tourism in 2017 experienced a spike as a result (parks were free for the year).

Mr. Vincent offered the lay of the craggy-peaked land.

“Skiing in this part of the Canadian Rockies is different from almost every resort in North America because there is not a real estate component or ski village at the actual ski hills,” Mr. Vincent said. “As a result, the skiing is unspoiled with views that stretch for a hundred kilometers on a clear day. When you are skiing, it is just you and the mountains. The ski season runs from November to May here and the terrain can be quite varied.”

So where do locals hang up their skis after a day on the slopes? Due to its protected national park status, and "need to reside clause" (people are not permitted to own property in Banff unless they have a job or are business owners there) there is limited availability for homebuyers in Banff proper, although the Fairmont Banff Springs Hotel and Spa is a bucket list-worthy stay for mountain-loving travelers there for a short stay. Mr. Vincent noted, “99% of our second-home owners and people moving into the area choose to purchase in Canmore on the eastern edge of Banff National Park and just 20 minutes away.”

Host of the the nordic ski events during the 1988 winter Olympics, Canmore is where Canada’s cross-country ski and biathlon teams train—at the state-of-the art Canmore Nordic Center. In addition to athletes, Mr. Vincent said, “Canmore is home to ‘the blue jean millionaire’—this is a town where people come to relax in the mountains. There is not the scene you might see in other resort communities.”

Canmore is understated, yet affluent, and has one of the highest per-capita incomes in Canada, according to Mr. Vincent. Scott Watson of the Alberta Collection,

Christie's International Real Estate, noted that area buyers are primarily from the oil or finance world. The majority of residents are Alberta locals within a four-hour drive of the mountains. However, direct international flights to and from Calgary International Airport (60 miles from Canmore) have contributed to an uptick in buyers from the United States, Europe, Asia, and the United Kingdom.

Mr. Watson listed hot spots where locals dine and drink, including the The Crazy Weed for contemporary Canadian cuisine; romantic Rustica at the Silvertip Resort; the Park Distillery; Grizzly House for fondue; and Chuck’s, a new-to-the-scene steak house.

Not just for snow-dependant sports, the area is a draw in all seasons for hiking, biking, and world-class public golf at local courses Banff Springs, Silvertip Resort, Stewart Creek Resort, and the Canmore Golf Club.

For those looking to purchase in Canmore, Mr. Vincent reported that the average sale price for a detached home is C$1.09 million (US$890,000). The highest recorded resale home was C$4.35 million (US$3.5 million) and there are listings on the market upward of C$12 million (US$9.8 million). The average sale price of a townhouse is C$712,000 (US$582,000), and the average price for an apartment or condo is C$467,000 (US$382,000).

Of the housing style, Mr. Watson said, “It’s rustic, a lot of natural wood and overall a ski cabin feel, but there is some really interesting architecture. There is some modern design, but generally more traditional architecture. It’s all about the views in Canmore. Specific areas capture the mountains better than others and you’re paying for those views. You’re surrounded by the mountains in Canmore and Banff.”

The area has a very limited footprint for building and could be completely built out within the next 20 years. However, there are several new projects in the works. Mr. Vincent cited the Three Sisters development of townhouses and condos that would include a resort center and hotel. Also of note is the Spring Creek Mountain Village, which will revamp an old campground in the heart of Canmore with luxury villas and a boutique hotel, and the addition of a casino and and a gondola at the Silvertip Resort, which is perched above the town of Canmore in an enclave known for some of Canmore's most exclusive homes.

The outlook is favorable for foreign buyers from outside of Canada. “The resort market in Canada, and in Alberta more specifically, because oil has dropped, is not as active as it was in 2013, 2012 or 2011. Oil prices have affected the real estate industry,” Mr. Watson said. The drop in prices and the strength of the U.S. dollar make it attractive for U.S. buyers.”

In general, the market is strong. “We’re seeing sales numbers go up just in the last six months, so that’s positive. I think long term the growth will continue,” predicted Mr. Watson.

On The Market

Location: Canmore, Banff
Price: C$1.175 million (US$938,000)
Built in 2012, this low-rise condo unit in the gated Three Sisters community is a contemporary ski chalet with interiors by Calgary-based Paul Lavoie interior design. A private elevator delivers you right to this spacious three-bedroom, three-bath suite with steam room and Jacuzzi bath. There is a top-of-the-line gourmet kitchen, open living room and dining room that opens to a balcony with mountain views.

Location: Canmore, Banff
Price: C$3.6 million (US$2.89 million)
This contemporary mountain home in the exclusive Juniper Ridge enclave of the Silvertip community is generous on space and amenities. The four-bedroom, four bath home has a gourmet kitchen, open living and dining room with mountain views and a wide outdoor deck. Relax in the family room or the custom Japanese spa and sauna on the lower level.

Location: Canmore, Banff
Price: C$2.8 million (US$2.24 million)
Designed by Saunders Architecture of Norway, the O House is a contemporary retreat, part of a series of five Edge Houses for Carraig Ridge in an exclusive development set on 650 acres in the foothills of the Canadian Rockies. This three-bedroom triangle-shaped eco-conscious house is designed to take in the most of the natural surroundings through its floor-to-ceiling glass windows, and light-flooded rooms that open to the outdoors.

Whistler

A laid-back town, and former Olympics host, with some of North America’s most serious skiing

Just two hours north of cosmopolitan, coastal Vancouver is the skier’s paradise of Whistler and Blackcomb. Rising out of British Columbia’s glacier-carved Coast Mountains, this world-class Canadian resort has two mountains connected by a gondola with 200 trails spread across more than 8,000 acres. Skiers first blazed trails here in 1966, and the mountain played host to the Winter Olympics in 2010.

However, the pristine slopes are not just for Gold Medal-winning athletes. Maggi Thornhill, president of Thornhill Real Estate explained, “You have steep and difficult terrain, but this is also a great place for beginners because the mountain is accessible right from the heart of the village. It makes any of the challenges of getting to the hill just disappear.”

Mr. Ryan of the Whistler Real Estate Co., added, “The big thing about Whistler is its sheer size. It has the two highest ski mountains in North America, huge acres of skiable terrain and the vertical—which is how to measure where you start skiing and stop skiing—is 5,280 vertical feet. This is all connected at the base by a village that’s very European in style and feel. Plus, there’s no cars, it’s just a bunch of patios, cafes, restaurants and shops.”

Residents here appreciate the finer things, but in an understated way—and in every season, too. “We attract a lot of people that Aspen is a bit too over-the-top for. If you see a fur coat in this town, it’s a bit of a head turner. We have an incredibly high-end restaurant, bar, and nightlife scene, but everyone here is so unassuming. It’s very chill and all about nature and skiing. We really appeal to a younger crowd, so the nightlife and bar scene is like nothing in North America. There is also some of the best mountain biking in the world here, so it’s a four-season resort with golf, Alpine hiking, and spas, too. July and August are two of the busiest months of the year now,” Mr. Ryan said.

The Tyrolean-inspired village at the base of the mountains is the setting for a lively après-ski scene. Ms. Thornhill recommended joining the locals after a day of pounding powder for drinks on the patio at the Longhorn Saloon and Grill, or soothing tired muscles in the hot and cold baths at the Scandinave Spa.

As for dining, Ms. Thornhill said, “Whistler is a foodie’s haven. Must tries include the upscale Araxi Restaurant and Oyster Bar, the Rimrock for West Coast cuisine, rustic Italian Trattoria di Umberto, Red Door for amazing comfort food and Hy’s Steakhouse.”

In keeping with the overall aesthetic of the village, most homes are Alpine chalet style or mountain contemporary with all the modern amenities.”The housing is very diverse, and there are several condo hotels, such as the Four Seasons, where every suite in the building is privately owned, which is unique. There is, of course, an incredible amount of ski-in/ski-out townhomes, and single-family homes from, little A-frames that are 30 or 40 years old right up to large compounds,” Mr. Ryan said.

“The average cost of a single-family home is C$2,716,605 (US$2,204,800), a townhouse on average is C$1,065,307 (US$864,600), and the condo average is C$605,479 (US $491,406),” Mr. Ryan said. Ms. Thornhill added, “The record sale for a single-family home was C$22 million (but people have spent upwards of C$50 million building some of the Estates in the Valley), and the record paid for a townhome was C$7 million (US$5.6 million).”

“We have an eclectic mix of buyers. Lots of finance, corporate leaders, celebrities and film executives. They come from all over the world—Hong Kong, Singapore, London, Mexico City, Los Angeles, Seattle, Toronto and Vancouver,” Ms. Thornhill said.

With the strength of the U.S. dollar, they’ve seen significant interest in buyers from California, Washington, New York, and Mr. Ryan predicted the market from Chicago will pick up as well.

“The market in Whistler has never been bad, but it’s exceptionally good right now,” he said. “We’re very unique in that we have an official community plan and Whistler is nearly 96% built out, and people don’t want Whistler to get any bigger because it’s surrounded by Crown land,” he said, referring to public land owned by the federal or provincial governments.

“There are a couple very exciting projects coming up. One is the Renaissance Project by Whistler Blackcomb with a new boutique hotel and approximately 60 ski-in/ski-out townhomes….However, most of the development in Whistler has happened. So the outlook is low supply, high demand, meaning prices will continue to rise. This is a really special place and the prices reflect that,” Ms. Thornhill said.

On The Market

Location: Whistler
Price: C$9.999 million (US$7.9 million)
For the ultimate in privacy, this six-bedroom oasis is set on 2.25 secluded acres with incredible mountain views. Spread across the three-story chalet-style home is a state-of-the-art kitchen, formal and informal dining rooms, and a grand living room. With a generous outdoor deck, large swimming pool, and hot tub, this house is welcoming in every season.

Location: Whistler
Price: C$15 million (US$12 million)
If it’s space you’re craving, this nearly 8,000-square-foot estate in the exclusive Stonebridge neighborhood should tick all the boxes. There are a total of seven bedrooms in the main house and an additional two rooms in the guest wing and caretaker space. The kitchen, dining, living room and game room are airy and light flooded, taking in panoramic mountain views

Location: Whistler
Price: C$24.95 million (US$20 million)
This exclusive estate is a 10-minute drive from the ski lifts. The 10-bedroom, 11-bath residence is situated on 8.3 secluded acres with jaw-dropping views of the entire valley, lakes, and Whistler and Blackcomb Mountains. Light flooded and styled with blond wood, the open plan kitchen, dining and living areas make the most of the unobstructed views.

Location: Whistler
Price upon request
This 11-bedroom, 11.5-bath estate with separate guest house and panoramic ski run views is the ultimate luxury family residence. Interiors feature custom millwork, a gourmet kitchen, generous living spaces, a wine cellar, billiards room and gym. The outdoor living space has a 40-foot waterfall, oversized hot tub, swimming pool and wood-burning stone fireplace. Plus, it’s an easy walk to the village, surrounding lakes, and trails.