In like lion out like a…
Lamb? We don’t think so.
The March MLS statistics for the Comox Valley and Campbell River point to massive increases in sales volumes in the single family market sector. In the Comox Valley the increase was 56% with a 13% increase in the average price to $399,493. This is based on 76 sales. In Campbell River the increase was 49% over March 2015 with a 10% increase in the average price to $330,949. There is excellent liquidity with the days to sale down in both regions.
As we mentioned last time, part of the reason for the active market conditions lies with first time buyers. With a tight and expensive rental market, home ownership looks very appealing. People are asking themselves, “Why rent when I can buy for the same price?”
Want to find out if you should buy? The New York Times has as the answer.
Not all market sectors reflect similar activity, but the Zone Totals for the Comox Valley are up 69% with a 16% increase in the average price. Zone Totals for Campbell River show a 64% increase in sales, but with a 3% decrease in the average price.