by Christopher Kutyn

As the stats indicate, the Comox Valley and Campbell River Markets show dramatic increases in sales volumes for single family dwellings; almost identical at 43 and 44% respectively. There was upward pressure on price in both markets. The apartment condo markets also show huge increases in the volume of sales.

Trying to hang onto this market has been difficult, so a prediction for 2017 is out of the question. Signs of a softening market in Vancouver, were countered by an announcement by the BC Government just before Christmas. The Owner Mortgage and Equity Partnership Program will provide five-year interest free loans. Most analysts I have read question the rationale and the motive, and some have been quite rude! For one man’s opinion click here.

In my view, over regulation which dramatically restricts supply is the real issue. The matter of low inventory levels has not been addressed.

Comox Valley

Single Family Houses Sold

1022 26% YTD
1022 26% 12MTD
$ 413,478 14% 12MTD

Campbell River

Single Family Houses Sold

654 34% YTD
654 34% 12MTD
$ 344,450 8% 12MTD
"Much of the social history of the Western world, over the past three decades, has been a history of replacing what worked with what sounded good" - Thomas Sowell, Senior Fellow Hoover Istitution, Stratford University

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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