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Comox Valley Real Estate Market Update for July 2021

The Average 12 Month to Date Sale Price increased by 22.25% from the previous 12 month period. The 12 Month to Date Average Sale Price was $718,951. There are 1.48 Months of Inventory of Single Family in the Comox Valley. It is currently a Avg. Sellers Market. This month’s Inventory increased to 98 Active Listings. There were 85 units listed and 66 units sold.

• In the Comox Valley, the year-over-year benchmark price rose by 30 per cent to $765,200.

“Unless demand drops significantly or more housing supply comes online through new construction, the needle for VIREB’s inventory situation will not move by much,” states Mackay. “BCREA, VIREB, and other real estate boards continue advocating with policymakers at the provincial and regional levels to speed up the development process so that municipalities can expand supply more quickly to meet demand.”

Source: Vancouver Island Real Estate Board – MLS® Statistics ​​​

Single Family Homes
	The Average 12 Month to Date Sale Price increased by 22.25% from the previous 12 month period. The 12 Month to Date Average Sale Price was $718,951. There are 1.48 Months of Inventory of Single Family in the Comox Valley. It is currently a Avg. Sellers Market. This month’s Inventory increased to 98 Active Listings. There were 85 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.
Lots
	The Average 12 Month to Date Sale Price decreased by 8.13% from the previous 12 month period. The 12 Month to Date Average Sale Price was $335,465. There are 4.75 Months of Inventory of Lots in the Comox Valley. It is currently a Balanced Market. This month’s Inventory increased to 38 Active Listings. There were 9 units listed and 8 units sold.
Apartment Condos
	The Average 12 Month to Date Sale Price increased by 16.04% from the previous 12 month period. The 12 Month to Date Average Sale Price was $355,984. There are 1.15 Months of Inventory of Condos (Apt) in the Comox Valley. It is currently a Avg. Sellers Market. This month’s Inventory decreased to 31 Active Listings. There were 23 units listed and 27 units sold.
Townhouse & Patio Condos
	The Average 12 Month to Date Sale Price increased by 25.71% from the previous 12 month period. The 12 Month to Date Average Sale Price was $495,001. There are 1.33 Months of Inventory of Condos (Twnhse & Patio) in the Comox Valley. It is currently a Avg. Sellers Market. This month’s Inventory decreased to 36 Active Listings. There were 21 units listed and 27 units sold.

• 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.

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PropertyGuys.com on Vancouver Island

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!

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The monthly Comox Valley Real Estate Market Update for February 2021 shows compared to a year ago, an increase in sales for the entire local area. Overall residential sales from last February in the Comox Valley were up 81.43% and up while the average days to sell was up 42.74% from last February. The sales over the last 12 months are up 18% The market is still very strong.

Swift sales in the latter half of the year is causing upward price pressure. The housing market remains strong. 

The Single Family statistics for this month point to rising average prices in both the Comox Valley and Campbell River. The market is quite active, even aggressive at times.
In spite of low inventory, pricing is still important.

• Single Family homes sales show rising average prices, the market is active and strong.  

• In the Comox Valley, the benchmark price was $631,400, up by 15 per cent from one year ago. 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. 

“The length of time it takes to get a development off the ground is a serious problem on Vancouver Island, which is becoming an increasingly popular destination for buyers of all ages,” says Mackay. “While our area has always attracted retirees, we’re seeing younger buyers more frequently than in the past.” -Ian Mackay

Source: Vancouver Island Real Estate Board – MLS® Statistics ​​​

Single Family Homes
	The Average 12 Month to Date Sale Price increased by 12.1% from the previous 12 month period. The 12 Month to Date Average Sale Price was $645,476. There are 0.91 Months of Inventory of Single Family in the Comox Valley. It is currently a Strong Sellers Market. This month’s Inventory increased to 52 Active Listings. There were 62 units listed and 57 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 decreased by 11.87% from the previous 12 month period. The 12 Month to Date Average Sale Price was 328771. There are 3.08 Months of Inventory of Lots in the Comox Valley. It is currently a Soft Sellers Market. This month’s Inventory increased to 40 Active Listings. There were 16 units listed and 13 units sold.
Apartment Condos
	The Average 12 Month to Date Sale Price increased by 6.41% from the previous 12 month period. The 12 Month to Date Average Sale Price was 327662. There are 0.86 Months of Inventory of Condos (Apt) in the Comox Valley. It is currently a Strong Sellers Market. This month’s Inventory decreased to 31 Active Listings. There were 29 units listed and 36 units sold.
Townhouse & Patio Condos
	The Average 12 Month to Date Sale Price increased by 10.51% from the previous 12 month period. The 12 Month to Date Average Sale Price was 434587. There are 1.57 Months of Inventory of Condos (Twnhse & Patio) in the Comox Valley. It is currently a Avg. Sellers Market. This month’s Inventory increased to 33 Active Listings. There were 38 units listed and 21 units sold.

• 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.

PropertyGuys.com on Vancouver Island

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!

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Comox Valley Real Estate Market Update for December 2020

The monthly Comox Valley Real Estate Market Update for December 2020 shows compared to a year ago, an increase in sales for the entire local area. Overall residential sales from last December in the Comox Valley were up 62% and up while the average days to sell was down by 25% from last December. The sales over the last 12 months are up by 13.6%, the market is very strong.  

Swift sales in the latter half of the year is causing upward price pressure. The housing market remains strong. We have seen significant gains but as we head into fall the numbers have tempered, but not as much as is typical.

The Single Family statistics for this month point to rising average prices in both the Comox Valley and Campbell River. The market is quite active, even aggressive at times.
In spite of low inventory, pricing is still important.

• Single Family homes sales show rising average prices, the market is active and strong.  
• In the Comox Valley, the benchmark price was $550,800, a 4% increase from one year ago. 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. 

“…low inventory continues to be the primary reason behind the weaker sales posted in November and December. The buyers are there, but the listings are not…Consumer demand is high, and buyers are snapping up well-priced properties quickly once they hit the market… Multiple offers are commonplace. Notwithstanding high demand, correctly pricing your home remains the key to a quick sale. Overpriced homes tend to linger in our area despite prevailing market conditions.” 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 9.97% from the previous 12 month period. The 12 Month to Date Average Sale Price was $631,705. There are 1.33 Months of Inventory of Single Family in the Comox Valley. It is currently a Avg. Sellers Market. This month’s Inventory decreased to 60 Active Listings. There were 25 units listed and 45 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 decreased by 7.41% from the previous 12 month period. The 12 Month to Date Average Sale Price was $333,873. There are 1.79 Months of Inventory of Lots in the Comox Valley. It is currently a Avg. Sellers Market. This month’s Inventory decreased to 43 Active Listings. There were 21 units listed and 24 units sold.
Apartment Condos
	The Average 12 Month to Date Sale Price increased by 13.6% from the previous 12 month period. The 12 Month to Date Average Sale Price was $336,448. There are 1.32 Months of Inventory of Condos (Apt) in the Comox Valley. It is currently a Avg. Sellers Market. This month’s Inventory decreased to 37 Active Listings. There were 20 units listed and 28 units sold.
Townhouse & Patio Condos
	The Average 12 Month to Date Sale Price increased by 7.29% from the previous 12 month period. The 12 Month to Date Average Sale Price was $416,850. There are 6 Months of Inventory of Condos (Twnhse & Patio) in the Comox Valley. It is currently a Soft Buyers Market. This month’s Inventory increased to 30 Active Listings. There were 8 units listed and 5 units sold.

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.

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PropertyGuys.com on Vancouver Island

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!

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Comox Valley Real Estate Market Update for November 2020

The monthly Comox Valley Real Estate Market Update for November 2020 shows compared to a year ago, an increase in sales for the entire local area. Overall residential sales from last November in the Comox Valley were up 25% and up while the average days to sell was down by 15% from last November. The sales over the last 12 months are up by 14.9%, the market is very strong.  

Swift sales in the latter half of the year is causing upward price pressure. The housing market remains strong. We have seen significant gains but as we head into fall the numbers have tempered but not as much as expected.

The Single Family statistics for this month point to rising average prices in both the Comox Valley and Campbell River. The market is quite active, even aggressive at times.
In spite of low inventory, pricing is still important.

• Single Family homes sales show rising average prices, the market is active and strong.  
• In the Comox Valley, the benchmark price was $544,900, a slight increase from one year ago. 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. 

“Despite what may be the worst recession in B.C. history, the housing market had a record fall season, and prices are rapidly rising as pent-up demand floods into an under-supplied market, … As that pent-up demand from the loss of a spring season fades, sales will likely slow from their current pace, but activity is expected to remain strong as record-low mortgage rates and a recovering economy continue to drive sales.” says BCREA.

Source: Vancouver Island Real Estate Board – MLS® Statistics ​​​

Single Family Homes
	The Average 12 Month to Date Sale Price increased by 8.44% from the previous 12 month period. The 12 Month to Date Average Sale Price was $623,715. There are 1.29 Months of Inventory of Single Family in the Comox Valley. It is currently a Avg. Sellers Market. This month’s Inventory decreased to 84 Active Listings. There were 42 units listed and 65 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 decreased by 4.4% from the previous 12 month period. The 12 Month to Date Average Sale Price was $339,196. There are 5.27 Months of Inventory of Lots in the Comox Valley. It is currently a Balanced Market. This month’s Inventory decreased to 58 Active Listings. There were 8 units listed and 11 units sold.
Apartment Condos
	The Average 12 Month to Date Sale Price increased by 13.34% from the previous 12 month period. The 12 Month to Date Average Sale Price was $337,143. There are 2.52 Months of Inventory of Condos (Apt) in the Comox Valley. It is currently a Avg. Sellers Market. This month’s Inventory decreased to 53 Active Listings. There were 17 units listed and 21 units sold.
Townhouse & Patio Condos
	The Average 12 Month to Date Sale Price increased by 9.04% from the previous 12 month period. The 12 Month to Date Average Sale Price was $419,336. There are 2.5 Months of Inventory of Condos (Twnhse & Patio) in the Comox Valley. It is currently a Avg. Sellers Market. This month’s Inventory decreased to 30 Active Listings. There were 8 units listed and 12 units sold.

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.

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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!

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Comox Valley Real Estate Market Update for October 2020

The monthly Comox Valley Real Estate Market Update for October 2020 shows compared to a year ago, an increase in sales for the entire local area. Overall residential sales from last October in the Comox Valley were up 28% and up while the average days to sell was up by 6.61% from last October. The sales over the last 12 months are up by 5.8%, the market is strong.  

Swift sales in the latter half of the year is causing upward price pressure. The housing market remains strong. 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 quite active, even aggressive at times.
In spite of low inventory, pricing is still important.

• Single Family homes sales show rising average prices, the market is active and strong.  
• In the Comox Valley, the benchmark price was $534,300, a slight increase from one year ago. 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. 

“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 6.77% from the previous 12 month period. The 12 Month to Date Average Sale Price was 616296. There are 1.73 Months of Inventory of Single Family in the Comox Valley. It is currently a Avg. Sellers Market. This month’s Inventory increased to 123 Active Listings. There were 73 units listed and 71 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 decreased by 7.73% from the previous 12 month period. The 12 Month to Date Average Sale Price was $333,437. There are 4.13 Months of Inventory of Lots in the Comox Valley. It is currently a Balanced Market. This month’s Inventory decreased to 66 Active Listings. There were 5 units listed and 16 units sold.
Apartment Condos
	The Average 12 Month to Date Sale Price increased by 7.68% from the previous 12 month period. The 12 Month to Date Average Sale Price was $323,106. There are 2.39 Months of Inventory of Condos (Apt) in the Comox Valley. It is currently a Avg. Sellers Market. This month’s Inventory decreased to 79 Active Listings. There were 30 units listed and 33 units sold.
Townhouse & Patio Condos
	The Average 12 Month to Date Sale Price increased by 7.51% from the previous 12 month period. The 12 Month to Date Average Sale Price was $412,616. There are 2.27 Months of Inventory of Condos (Twnhse & Patio) in the Comox Valley. It is currently a Avg. Sellers Market. This month’s Inventory remained the same to 34 Active Listings. There were 15 units listed and 15 units sold.

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.

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PropertyGuys.com on Vancouver Island

PropertyGuys.com delivers premium real estate marketing services to help Vancouver Islanders sell their homes and keep more money in their pockets. We price our services at a level that makes sense, we do not price as a percentage of your home sold price. PG Direct Realty Ltd. is our brokerage partner and they help our 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 8495 and see how PropertyGuys.com and our partner PG Direct Realty Ltd. can help you buy & sell real estate on Vancouver Island!