by Christopher Kutyn

In the month of November, for both the Comox Valley and Campbell River single family markets, the dollar volumes of sales were down 9% and 37% respectively.  For the year, the sales volume for the Comox Valley was virtually static compared to last year. In Campbell River, the reduced sales volume for November pushed the yearly total down 9% to $227 million. Compared to last year, lot sales are down 32% in the Comox Valley, and 31% in Campbell River. These statistics on lot sales may not provide an accurate reflection of the market, as private transactions are not included in the MLS statistics.  Many other market sectors show lower sales volumes; this is especially true in the acreage market sectors in the Comox Valley where improved acreage sales are off 39%, and unimproved acreage (raw land) sales are off 18%.

The Condominium market in the Comox Valley seems to be bucking this trend. Condos still provide a less expensive point of entry to the market. The 58% increase in the volume of townhouse sales is the result of good supply.  In Campbell River, sales volumes for patio homes and townhouses were down over the year, but inventory is virtually non-existent.

Comox Valley

Single Family Houses Sold

745 11% YTD
794 9% 12MTD
$ 539,355 11% 12MTD

Campbell River

Single Family Houses Sold

474 19% YTD
503 18% 12MTD
$ 450,846 11% 12MTD
In the beginning was the Word, and the Word was with God, and the Word was God. In Him was life; and the life was the light of men. And the Word was made flesh, and dwelt among us, full of grace and truth. Emmanuel, God with us. - John 1:1, 4

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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