Market Minute
Signs of a Strong Market
In the Comox Valley the “improved acreage” and “vacant building lots” categories show the most noteworthy gains. The dollar volume of sales for improved acreages (acreages with homes built) has risen by a dramatic 33% to $36 million and the average sell price has escalated 16% to $521,324. The dollar volume of sales for lots rose significantly, up 28% to $10 million, with a 12% increase in the average price to $154,138.
The Campbell River market shows vigorous progress in “single family dwelling” sales. The number of units reported sold rose from 462 to 511 (up 11%). The dollar volume in this category is up 15% to $156.4 million. The “zone totals” (across all property types) for Campbell River are also noteworthy, with the average price up 18%, and an overall increase in sales volume up 20% to $234.4 million.
Both communities show consistent growth in sales volume and point to an increasingly strong local real estate market.
