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Campbell River Real Estate Market Update for January 2021

Posted on February 17, 2021February 17, 2021 by comoxvalley

By PropertyGuys.com on Vancouver Island

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Campbell River Real Estate Market Update for January 2021

The monthly Campbell River Real Estate Market Update for January 2021 shows compared to a year ago, a large increase in sales for the entire local area. Overall residential sales from last January in Campbell River were up 61.9% and up while the average days to sell decreased overall by 36.52% from last January. The sales over the last 12 months are up by 17.6%, 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 the Winter, the numbers have tempered but not as much as is typical for a January.

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 $528,000 in January, an increase of 14 per cent over last year. Benchmark pricing tracks the value of “middle-of-the-range” or “typical” homes and excludes the extreme high-end and low-end properties in Campbell River. It is normally a more stable price indicator than average prices.

“…In a competitive housing market, using a REALTOR® can help streamline the buying and selling process to ensure the best possible outcome while mitigating associated risks.” says VIREB president Ian Mackay

Source: Vancouver Island Real Estate Board – MLS® Statistics

Seller’s Market – In a seller’s market, conditions are favourable for sellers to get higher prices for their homes. The number of buyers who want homes exceeds the number of homes available. In this type of market, the homes sell quickly, prices will increase, and a large number of buyers are available for a minimal inventory of homes. These characteristics have implications for the buyer who has to make decisions quickly, must pay more, and frequently has their conditional offers rejected.
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.

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Campbell River Market Update Dec/19

Posted on January 6, 2020February 4, 2020 by admin

By Gordon McKinlay
PropertyGuys.com Comox Valley & North Vancouver Island

Campbell River Market Update – Dec 2019

The monthly Campbell River Market Update shows, “Trend-wise, VIREB’s housing market is balanced in most areas and inching towards a buyers’ market in a few zones. Overall, however, home sales and listing activity are at typical levels for our region…there is interest among buyers, but many are taking a wait-and-see approach. Lack of inventory is certainly curtailing some buyers from moving ahead with their home purchase, so if
you’re thinking of selling your home, now is a good time to list,” says Kaye Broens, 2019 VIREB President.

For the 2019 Campbell River average single-family home prices, the average home sales steadily increased during the year until it hit its peak in September at $541,837, but since then, prices of sold units have decreased and ended the year at $445,622. The average home price for the entire year was $488,315, which was 8% higher than 2018 at $453,93

Source: Vancouver Island Real Estate Board – MLS® Statistics

Single Family - Market Stats - Campbell River - Dec 19

Lot - Market Stats - Campbell River - Dec 19

Market Legend

Seller’s Market – In a seller’s market, conditions are favorable for sellers to get higher prices for their homes. The number of buyers who want homes exceeds the number of homes available. In this type of market, the homes sell quickly, prices will increase, and a large number of buyers are available for a minimal inventory of homes. These characteristics have implications for the buyer who has to make decisions quickly, must pay more, and frequently has their conditional offers rejected.
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 favorable, negotiating leverage, more time to search for a home, and better prices.

Meet Gord

Gord is the owner of PropertyGuys.com in the Comox Valley & North Vancouver Island. Gordon is a private sales expert who loves helping people sell their own homes and save tens of thousands of dollars. He has created this website to help others sell their homes privately. For more information, download his free Guide to Selling Without an Agent.

PropertyGuys.com has developed a system that has helped over 90,000 private home sellers in Canada to sell their homes successfully. PropertyGuys.com is the largest private home sales network in Canada.

Campbell River Market Update Nov/19

Posted on December 10, 2019February 4, 2020 by admin

By Gordon McKinlay
PropertyGuys.com Comox Valley & North Vancouver Island

Campbell River Market Update – Nov 2019

The monthly Campbell River Market Update shows “Accurate pricing continues to be the key to a quick sale,” says VIREB president Kaye Broens. “Overpriced properties tend to linger.”

Source: Vancouver Island Real Estate Board – MLS® Statistics

Single Family - Market Stats - Campbell River - Nov 19

Lot - Market Stats - Campbell River - Nov 19

Market Legend

Seller’s Market – In a seller’s market, conditions are favorable for sellers to get higher prices for their homes. The number of buyers who want homes exceeds the number of homes available. In this type of market, the homes sell quickly, prices will increase, and a large number of buyers are available for a minimal inventory of homes. These characteristics have implications for the buyer who has to make decisions quickly, must pay more, and frequently has their conditional offers rejected.
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 favorable, negotiating leverage, more time to search for a home, and better prices.

Meet Gord

Gordon McKinlay is the owner of PropertyGuys.com in the Comox Valley & North Vancouver Island. Gordon is a private sales expert who loves helping people sell their own homes and save tens of thousands of dollars. He has created this website to help others sell their homes privately. For more information, download his free Guide to Selling Without an Agent.

Campbell River Market Update Oct/19

Posted on December 2, 2019February 4, 2020 by admin

By Gordon McKinlay
PropertyGuys.com Comox Valley & North Vancouver Island

Campbell River Real Estate Market – October 2019

“This is a more comfortable market for people on both sides of the real estate transaction,” says VIREB president Kaye Broens. “But correctly pricing your home is the key to a quick sale and may even result in multiple offers. Overpriced properties tend to linger, and that risk increases in a balanced market.”

“What’s happening for buyers is they have to save more money for their down payment, and they’re having to qualify for mortgages at higher rates, even though they don’t have to pay the higher rates, so that’s part of the B20 mortgage rules, commonly known as the stress test.”

Source: Vancouver Island Real Estate Board – MLS® Statistics

Single-Family-Campbell River Real Estate Market-Oct-19

Lot - Campbell River Real Estate Market-Oct-19

Market Legend

Seller’s Market – In a seller’s market, conditions are favorable for sellers to get higher prices for their homes. The number of buyers who want homes exceeds the number of homes available. In this type of market, the homes sell quickly, prices will increase, and a large number of buyers are available for a minimal inventory of homes. These characteristics have implications for the buyer who has to make decisions quickly, must pay more, and frequently has their conditional offers rejected.
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 favorable, negotiating leverage, more time to search for a home, and better prices.

Single Family Homes
	The Average 12 Month to Date Sale Price increased by 9.91% from the previous 12 month period. The 12 Month to Date Average Sale Price was $539,213. There are 1.13 Months of Inventory of Single Family in Campbell River. It is currently an Avg. Sellers Market. This month’s Inventory decreased to 36 Active Listings. There were 29 units listed and 32 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.
Lots
	The Average 12 Month to Date Sale Price increased by 23.33% from the previous 12 month period. The 12 Month to Date Average Sale Price was $324,635. There are 13 Months of Inventory of Lots in Campbell River. It is currently a Strong Buyers Market. This month’s Inventory increased to 13 Active Listings. There were 3 units listed and 1 units sold.
Apartment Condos
	The Average 12 Month to Date Sale Price increased by 5.4% from the previous 12 month period. The 12 Month to Date Average Sale Price was $290,003. There are 2.25 Months of Inventory of Condos (Apt) in Campbell River. It is currently a Avg. Sellers Market. This month’s Inventory remained the same to 9 Active Listings. There were 4 units listed and 4 units sold.
Townhouse & Patio Condos
	The Average 12 Month to Date Sale Price increased by 10.66% from the previous 12 month period. The 12 Month to Date Average Sale Price was $377,452. There are 1.6 Months of Inventory of Condos (Twnhse & Patio) in Campbell River. It is currently an Avg. Sellers Market. This month’s Inventory increased to Active Listings. There were 10 units listed and 10 units sold.

	The Average Sale Price this year ↑ increased by 8% ↑ from last year. This year’s Average Sale Price was $488,315. There are 3.73 Months of Inventory of Single Family in Campbell River. It is currently a Soft Sellers Market. This month’s Inventory increased to 97 Active Listings. There were 27 units listed and 26 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 Sale Price this year ↓ decreased by 4% ↓ from last year. This year’s Average Sale Price was $225,487. There are 12 Months of Inventory of Lots in Campbell River. It is currently a Strong Buyers Market. This month’s Inventory increased to 5 Active Listings. There were 2 units listed and 0 units sold.
	The Average Sale Price this year ↑ increased by 7% ↑ from last year. This year’s Average Sale Price was $266,705. There are 1.75 Months of Inventory of Condos (Apt) in Campbell River. It is currently a Avg. Sellers Market. This month’s Inventory decreased to 14 Active Listings. There were 3 units listed and 8 units sold.
	The Average Sale Price this year ↑ increased by 9% ↑ from last year. This year’s Average Sale Price was $401,671. There are 12 Months of Inventory of Condos (Patio) in Campbell River. It is currently a Strong Buyers Market. This month’s Inventory increased to 7 Active Listings. There were 1 units listed and 0 units sold.
	The Average Sale Price this year ↑ increased by 26% ↑ from last year. This year’s Average Sale Price was $283,067. There are 1.33 Months of Inventory of Condos (Twnhse) in Campbell River. It is currently a Avg. Sellers Market. This month’s Inventory decreased to 4 Active Listings. There were 0 units listed and 3 units sold.

	The Average Sale Price this year ↑ increased by 9% ↑ from last year. This year’s Average Sale Price was $490,195. There are 3.64 Months of Inventory of Single Family Homes in Campbell River. It is currently a Soft Sellers Market. This month’s Inventory increased to 120 Active Listings. There were 38 units listed and 33 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 Sale Price this year ↓ decreased by 10% ↓ from last year. This year’s Average Sale Price was $218,219. There are 3.33 Months of Inventory of Lots in Campbell River. It is currently a Soft Sellers Market. This month’s Inventory decreased to 10 Active Listings. There were 0 units listed and 3 units sold.
	The Average Sale Price this year ↑ increased by 7% ↑ from last year. This year’s Average Sale Price was $265,854. There are 22 Months of Inventory of Condos (Apt) in Campbell River. It is currently a Strong Buyers Market. This month’s Inventory increased to 22 Active Listings. There were 8 units listed and 1 unit sold.
	The Average Sale Price this year ↑ increased by 8% ↑ from last year. This year’s Average Sale Price was $398,262. There are 7 Months of Inventory of Condos (Patio) in Campbell River. It is currently an Avg. Buyers Market. This month’s Inventory increased to 7 Active Listings. There were 2 units listed and 1 unit sold.
	The Average Sale Price this year ↑ increased by 25% ↑ from last year. This year’s Average Sale Price was $279,028. There are 2 Months of Inventory of Condos (Townhouse) in Campbell River. It is currently an Avg. Sellers Market. This month’s Inventory increased to 8 Active Listings. There were 5 units listed and 4 units sold.

	The Average Sale Price this year increased by 8% from last year. This year’s Average Sale Price was $486,029. There are 3.91 Months of Inventory of Single Family Homes in Campbell River. It is currently a Soft Sellers Market. This month’s Inventory increased to 137 Active Listings. There were 51 units listed and 35 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 Sale Price this year decreased by 7% from last year. This year’s Average Sale Price was $225,115. There are 3.75 Months of Inventory of Lots in Campbell River. It is currently a Soft Sellers Market. This month’s Inventory decreased to 15 Active Listings. There were 0 units listed and 4 units sold.
	The Average Sale Price this year increased by 6% from last year. This year’s Average Sale Price was $261,117. There are 2.38 Months of Inventory of Condos (Apt) in Campbell River. It is currently an Avg. Sellers Market. This month’s Inventory decreased to 19 Active Listings. There were 7 units listed and 8 units sold.
	The Average Sale Price this year increased by 6% from last year. This year’s Average Sale Price was $391,917. There are 1.5 Months of Inventory of Condos (Patio) in Campbell River. It is currently an Avg. Sellers Market. This month’s Inventory increased to 6 Active Listings. There were 5 units listed and 4 units sold.
	The Average Sale Price this year increased by 25% from last year. This year’s Average Sale Price was $280,508. There are 3 Months of Inventory of Condos (Twnhse) in Campbell River. It is currently a Soft Sellers Market. This month’s Inventory remained the same to 9 Active Listings. There were 3 units listed and 3 units sold.