by Christopher Kutyn

the first place to catch a cold.

This old adage is sometimes used to describe the rural acreage market. The volume of sales for improved Comox Valley acreages is up 119%, with a 36% increase in the average price to $680,087. In simple terms, this means that the average price for a house on an acreage is up over $180,000 from last year at this time. The average price for raw land is up 28% to $303,308. The volume of sales is up 71%.

In Campbell River, there are fewer acreage sales but a similar trend exists. The volume of sales for improved properties is up 73%, with the average price up 12% to $543,635.

If these indicators are a barometer, then the market appears set for continued upward sales and price pressure in 2017 across all sectors.

Comox Valley

Single Family Houses Sold

93 2% YTD
1024 23% 12MTD
$ 420,655 15% 12MTD

Campbell River

Single Family Houses Sold

59 16% YTD
642 27% 12MTD
$ 353,109 11% 12MTD

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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