Comox Valley Real Estate Market
Located on beautiful Vancouver Island, the Comox Valley stretches from the calm waters of the Salish Sea, including Denman and Hornby islands, to the majestic peaks of the Beaufort Mountains and Strathcona Park. It has a population of 66,527 (2016 Census) and the Comox Valley market has around 800 home sales per year.
2020 Annual MLS® Sales Summary
2019 Annual MLS® Sales Summary
Just in 2018, the average home price increased by 10% to $539,897.
2018 Annual MLS® Sales Summary
Source: Vancouver Island Real Estate Board – MLS® Statistics
In 2019 the Comox Valley continued to reach new price highs, whereas of November 2019, the average home sale price was $582,533.86, another 7.9% increase from 2018.
The Comox Valley Real Estate Market Cycle
In the Comox Valley real estate market, 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 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.