by Christopher Kutyn

The single-family house markets in the Comox Valley and Campbell River showed double digit increases in sales for November and December. The statistics for January, however, point to a 31% decrease in the Comox Valley and a 43% decrease in Campbell River. So….go figure!

Inventory levels remain low. Next month we will highlight some development projects which may ease up the supply side.

We note that there is a downward trend in consumer confidence from a peak in July of 2019. In our view there is pent up demand. Perhaps fatigue from mixed economic signals , with little to choose from is making buyers wary, and very particular.

Comox Valley

Single Family Houses Sold

29 33% YTD
698 8% 12MTD
$ 580,513 7% 12MTD

Campbell River

Single Family Houses Sold

14 42% YTD
444 10% 12MTD
$ 488,204 7% 12MTD
"This royal throne of kings, this sceptred isle, This earth of majesty, this seat of Mars, This other Eden, demi-paradise, This fortress built by Nature for herself Against infection and the hand of war, This happy breed of men, this little world, This precious stone set in the silver sea, Which serves it in the office of a wall Or as a moat defensive to a house, Against the envy of less happier lands,-- This blessed plot, this earth, this realm, this England." —William Shakespeare 'King Richard II'

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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