by Christopher Kutyn

The total sales of single family homes in the Comox Valley for the month of January 2017 were $19,037,340. This is a 17 percent increase in sales over the month of January 2016. The average price of a single family dwelling in the Comox Valley for January 2017 was $442,729. By comparison, the average price for the month of January 2016 was $368,923. As a result of the price increases, homes purchased this January cost 20 percent more than they did in January 2016.

Total sales of single family dwellings in Campbell River for the month of January 2017 were $11,669,552. This is a 30 percent increase for the month of January 2016. The average price of a single family dwelling in Campbell River was $353,623 in January 2017. By comparison, the average price in January 2016 was $310,146. Therefore, homes purchased this January cost 14 percenter more than they did in January 2016.

Inventory levels are much lower in both markets, with Comox having 238 active listings last January compared to 135 active listings at this time. Campbell River had 173 active listings last January compared to 98 active listings at this time.

With such an active and very limited inventory we can expect continued upward pressure on home prices in both the Comox Valley and Campbell River.

Comox Valley

Single Family Houses Sold

43 2% YTD
1021 23% 12MTD
$ 416,630 14% 12MTD

Campbell River

Single Family Houses Sold

33 14% YTD
658 31% 12MTD
$ 346,422 9% 12MTD
Attitude is a little thing that makes a big difference. - Winston Churchill

Christopher Kutyn

Chris has been appraising Real Estate for over 30 years and has served on the board for the local chapter of the Appraisal Institute of Canada.

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