Market Minute
Is The Sap Rising?
Spring can often trigger real estate market activity, weather we like it or not.
The statistics for the Comox Valley and the Campbell River markets seem to tell slightly different stories this month. March single family sales in Comox were down 41% in dollar volume, compared to last year. The Sell / List Ratio is down last month from 66% to 39%. There are more listings this March; up 31.5% to 225 from 171 last March. It is reported that there is pent up demand. So, maybe, just maybe, pricing is the issue.
The Campbell River March stats reflect a healthy Sell / List Ratio of 74%, and a 10% increase in the dollar volume of sales. The average price was up 4% to $470,108, compared to the month of March last year.
Overall, both markets continue to offer good liquidity; 48 days (and rising) in the Comox Valley, 32 days (and falling) in Campbell River.
