Is this the new normal?
In the single family market sector, the latest VIREB stats show very strong, and quite similar results for the Comox Valley and Campbell River. The 12 month rolling stats point to increases of 36% and 39% respectively in the dollar volume of sales.
These stats were pushed by significant increases in sales volumes in September; both communities were up over 40%. This level of demand and low inventories continues to drive prices up. Under these conditions, the market offers excellent liquidity; the days to sell is down to 41 in the Comox Valley, and 38 in Campbell River.
The Comox Valley stats suggest that the rural lifestyle is back in vogue, or at least in demand! The dollar volume of improved acreage sales is up over 65% for the past 12 months over the previous 12 months. With a 26% increase, the average price hovers close to $640,000. The sales volume of unimproved acreages is up 50%.
Dynamic market conditions like these present exciting challenges. Finding a buyer these days is often the easy part. Making sure you get the best price may require some sage council, and assistance.
So much to sing about
On Wednesday, October 12 at 7 p.m. the Kutyn family will join with other sponsors, at the Sid Williams Theatre, to host a Sing Sankey. The proceeds will support Hospice at the Views. Join us to sing along to some of the old favourite hymns. Local tenor Brian Lawrence will sing two solos, and St. Joseph’s Hospital President and CEO, Jane Murphy, will give some insight into the future of St. Joseph’s.
More information here.