Campbell River Real Estate Market

Located on the beautiful east coast of Vancouver Island, Campbell River is the third-largest city on Vancouver Island with a population of 37,500. As the thriving central hub for more than 60,000 people on northern Vancouver Island and central coast region, Campbell River is a city with friendly small-town character. Campbell River has around 500 home sales per year.

2020 Annual MLS® Sales Summary

 

2019 Annual MLS® Sales Summary

2018 Annual MLS® Sales Summary

 

Source: Vancouver Island Real Estate Board – MLS® Statistics 

Home prices in the Campbell River area have been aggressively increasing for a few years now; however, the number of home sales have been slumping. Just in 2018, the average home price increased by 11% to $453,935.

The Campbell River Market Cycle

In Campbell River the usual pattern is for housing markets to enter into seasonal cycles. While spring temperatures start to climb and more buyers start their house hunt, this pushes up the demand for listings and pushes markets closer to a seller’s market. The same applies to the fall buying season. Terms such as “seller’s market,” “buyer’s market,” or “balanced market” are used to explain where the Campbell River Area Real Estate Market is. Each market is determined based on the sales-to-active listings ratio.

Looking to sell your home? Check out our article on Your Home’s Market Value vs BC Assessment Value.