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The monthly Campbell River Real Estate Market Update for October 2020 shows compared to a year ago, a large increase in sales for the entire local area. Overall residential sales from last October in Campbell River were up 56% and up while the average days to sell increased overall by 15% from last October. The sales over the last 12 months are up by 12%, the market is strong.
Swift sales in the latter half of the year is causing upward price pressure. We have seen significant gains but as we head into fall the numbers have tempered, with October posting a marginal rise.
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.
“Demand in the VIREB area continues to be high, but there just aren’t enough homes to satisfy it… Active listings of single-family detached properties (excluding acreage and waterfront) were 733 in October compared to 909 in September. There were 333 condo apartments and 197 row/townhouses for sale last month, down 14 per cent and three per cent, respectively, month over month…We don’t know if it’s a long-term trend, but we have noticed that some of the demand includes buyers who are advancing their retirement plans while others are downsizing and reducing their debt load,” says VIREB president Kevin Reid
Source: Vancouver Island Real Estate Board – MLS® Statistics
|Single Family Homes|
|The Average 12 Month to Date Sale Price increased by 8.77% from the previous 12 month period. The 12 Month to Date Average Sale Price was 528315. There are 1.29 Months of Inventory of Single Family in Campbell River. It is currently a Avg. Sellers Market. This month’s Inventory decreased to 85 Active Listings. There were 49 units listed and 66 units sold.
PLEASE NOTE: SINGLE FAMILY property does NOT INCLUDE acreage with a house, condominiums, duplex/triplex, mobile homes/on a pad, single-family waterfront or single-family strata. LOTS do NOT INCLUDE acreage or waterfront acreage.
|The Average 12 Month to Date Sale Price increased by 3.25% from the previous 12 month period. The 12 Month to Date Average Sale Price was $262,274. There are 12 Months of Inventory of Lots in Campbell River. It is currently a Strong Buyers Market. This month’s Inventory increased to 12 Active Listings. There were 5 units listed and 0 units sold.|
|The Average 12 Month to Date Sale Price increased by 12.42% from the previous 12 month period. The 12 Month to Date Average Sale Price was $293,546. There are 1.83 Months of Inventory of Condos (Apt) in Campbell River. It is currently a Avg. Sellers Market. This month’s Inventory decreased to 22 Active Listings. There were 9 units listed and 12 units sold.|
|Townhouse & Patio Condos|
|The Average 12 Month to Date Sale Price increased by 2.76% from the previous 12 month period. The 12 Month to Date Average Sale Price was $348,491. There are 3.25 Months of Inventory of Condos (Twnhse & Patio) in Campbell River. It is currently a Soft Sellers Market. This month’s Inventory increased to Active Listings. There were 8 units listed and 8 units sold.|
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