by Christopher Kutyn

The monthly stats for May 2020 compared to May 2019 reflect the continued sharp reduction in the volume of sales. In the Single Family sector, sales dropped 54% in the Comox Valley and 58% in Campbell River.  Average prices were up 7% and 9% respectively. Part of the reason lies with the lack of inventory.  In the Comox Valley there are 244 active listings, compared with 460 five years ago. In Campbell River there are 141 active listings compared with 123 five years ago.

In these unprecedented times, we continue to hear of pent-up demand. There are recent reports of strong competitive interest on some properties. It seems as though people are keen to get on with their lives, and their actions reflect a level of confidence. The TSX is back above 15,000, the DOW is above 25,000, and the Canadian dollar is above 73 cents.

So, why not celebrate with a hair cut, or an ice cream? Love’s Ice cream in Cumberland is open for scoops and pints Thursday through Sunday, 1pm till 8pm.  The home-made waffle cones come complete with a marshmallow plug in the bottom.

Krish Dhanam is one of the best motivational speakers in the world. He is the protege of Zig Ziglar, and a personal friend. We attach a link to a one-hour webinar ‘Habits of the Heart’ this Saturday, 6.30am PST,  which we think you will find informative, uplifting, and very funny. The cost equates to about $10 Canadian.

Comox Valley, May 2020 VIREB stats

Single Family Houses Sold

191 29% YTD
633 5% 12MTD
$ 579,110 3% 12MTD

Campbell River, May 2020 VIREB stats

Single Family Houses Sold

132 31% YTD
396 17% 12MTD
$ 495,303 6% 12MTD
“Behind every question is a questioner." Ravi Zacharias 26 March, 1946 - 19 May, 2020

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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