Kutyn property appraisals

Market Minute

If you’re gong to list – start packing!

by Christopher Kutyn

In appraisal school, we are taught that one of the potential pitfalls of inventing in real estate is liquidity; the time taken to sell a real estate asset. For both the Campbell River and Comox Valley markets, a review across the single family and condo sectors all point to good to exceptional liquidity. The Campbell River condo market is especially brisk with the average sell time at 11 days for townhouses, 12 days for patio homes and 22 days for apartments. Similarly, in the Comox Valley the days-to-sell for townhouses is 43, patio homes is 22 and apartments is 37.

In the single family sector the average days-to-sell in Campbell River is 28, while in the Comox Valley it is 48.

Feel like an ice cream? For some time we have highlighted the upside to the ongoing development pressure in the Village of Cumberland. The main drag is bustling and small businesses are thriving. There is great beer, great donuts and great pizza. Recently, a cosmic ice cream parlour opened called Love’s Ice Cream. It is homemade ice cream featuring milk from local grass fed cows, real fruit and their own homemade waffle cones. Open from 1 – 9 pm, make no mistake, this is worth the drive.

Comox Valley

Single Family Houses Sold

341 24% YTD
660 23% 12MTD
$ 560,403 7% 12MTD

Campbell River

Single Family Houses Sold

241 5% YTD
474 18% 12MTD
$ 468,701 7% 12MTD
"I don't care that they stole my idea... I care that they don't have any of their own". Nikola Tesla (1856 - 1943) on leaving his employment with Thomas Edison.

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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