by Christopher Kutyn

For both of our markets, the statistics indicate that we are experiencing a cooling trend. For the month of October, the dollar volume of sales in the Comox Valley was down 32% to $27.7 million, while in Campbell River the sales volume was down 9% to $20.5 million. Inventory levels remain low, and this should keep prices quite firm. In the past month there has been good news of the LNG development in Northern British Columbia, and this could potentially attract workers living on Vancouver Island. Countering this positive news is the prospect for higher interest rates. Overall, based on the data available, the Comox Valley and Campbell River markets should experience a soft landing.

Comox Valley

Single Family Houses Sold

697 10% YTD
808 7% 12MTD
$ 533,452 10% 12MTD

Campbell River

Single Family Houses Sold

444 17% YTD
522 14% 12MTD
$ 449,130 13% 12MTD
"The greater the freedom of a machine, the more it will need moral standards." - Rosalind Picard - Professor of Media Arts & Science at MIT

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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