Market Minute
Sharp Rise in Lot Sales is Great News for Local Economy
This month’s stats point to increased lot sales in both the Comox Valley and Campbell River markets. The Comox Valley is up 11%, while Campbell River is up 48%. These 12 months comparison figures reflect a 23% increase to $175,446 in the average price for Comox, and a 17% increase to $135,566 in Campbell River.
The sale of unimproved acreages is up 16% in the Comox Valley, reflecting a 12% increase in the average price to $271,665.
In the words of one financial analyst, “never underestimate the importance of the construction industry to the local economy”.
