Apartment Condos are Selling (but!) for Less
The MLS statistics for the Single Family market in both areas have Sell/List ratios in excess of 60% pointing to a ‘sellers market’. It is noteworthy that the upward pressure on price appears to have been eliminated in the Comox Valley market; a 1% increase in the average price on 814 sales over the past 12 months. There has been upward pressure in Campbell River where the average price is up 5%.
In the Apartment/Condominium sector, the average prices are down; 14% in the Comox Valley and 18% in Campbell River. Our analysis indicates that the market in Campbell River is balanced, but even with a Sell/List ratio of 64%, prices are falling in the Comox Valley.