The Money Takes a Ferry Ride
A recent study indicated that over 30% of the buyer group in the Comox Valley comes from the lower mainland. The active, even aggressive feeding frenzy continues. Competing interest on listings is still common place, with initial offers often above the asking price. In one case, an offer was $60,000 over the list price, received from a buyer who had been ‘left at the altar’ on two previous attempts.
In both market sectors, the Days to Sell continues to fall; down 55% in the Comox Valley to 19 days. In Campbell River, the Days to Sell is down 20% to 44 days.
Finding a buyer is the easy part, getting the best possible price may require a little assistance. This is especially important if you must sell and then buy in the same market.
When we track private sales on Craig’s list or other means, two things seem clear. Some people beat the system and get great buys. Others, thinking they have beat the system, often pay over the odds.
This is the most dynamic market I have experienced in my 30 years in real estate appraisal. If you are thinking of selling, a good Realtor is essential, and can often more than pay for themselves.