Sign up for your market updates!
Campbell River Real Estate Market Update for April 2021
The Average 12 Month to Date Sale Price increased by 17.79% from the previous 12 month period. The 12 Month to Date Average Sale Price was $583,197. There are 1.36 Months of Inventory of Single Family in Campbell River. It is currently a Avg. Sellers Market. This month's Inventory increased to 64 Active Listings. There were 72 units listed and 47 units sold.
Swift sales in the latter half of the year is causing upward price pressure. We have seen significant gains but as we head into the Spring, the numbers have tempered but not as much as is typical for a April.
The Single Family statistics for this month point to rising average prices in both the Comox Valley and Campbell River. The market is still quite active.
- Single Family homes sales show rising average prices, the market is active and strong.
- In Campbell River, the benchmark price of a single-family home hit $588,800 in April, an increase of 25 per cent over last year
“We have seen that demand-side policies like taxes and higher mortgage rates are just not working,” notes Mackay. “The best route to making housing more affordable, particularly for first-time buyers, is to increase supply. It’s not a quick solution, but it’s the only one that makes sense long-term.” Says 2021 VIREB president Ian Mackay
- Balanced Market – In a balanced market, the number of homes on the market is equal to the demand or number of buyers. Houses sell within a reasonable period, the demand equals supply, sellers accept reasonable offers, and prices are generally stable. The implications for the buyer in this type of market are that the atmosphere is more relaxed. There is a reasonable number of homes from which to choose.
- Buyer’s Market – A buyer’s market allows buyers to come in at lower prices. The supply of homes on the market exceeds the demand or the number of buyers. Homes will be on the market longer, fewer buyers will be available compared to the higher inventory of homes, and house prices are reduced. The implications for the buyers in this type of market are more favourable, negotiating leverage, more time to search for a home, and better prices.
PropertyGuys.com delivers premium real estate marketing services to help Vancouver Islanders sell their homes and keep more money in their pockets. PropertyGuys.com price their services at a level that makes sense, and do not price as a percentage of your home’s sale price. PG Direct Realty Ltd. is PropertyGuys.com’s brokerage partner and they help home sellers every step of the way from listing, showings, offers and SOLD! PG Direct Realty Ltd will also help you purchase a home, just call PropertyGuys.com at 778 557 8596 and see how PropertyGuys.com and our partner PG Direct Realty Ltd. can help you buy & sell real estate on Vancouver Island delivering a premium service while still saving you a lot of money!