Strong Market Run Continues
In the Comox Valley, many market sectors remain very strong and active. This is especially true for single family dwellings where the dollar volume of sales was up 30% for the month of April, compared to April last year. It is noteworthy that there is increased activity in the waterfront sector; up 29% in the dollar volume of sales for the past 12 months compared to the previous 12 months. Lot sales are also strong; up 29% on the 12 month rolling comparisons.
In Campbell River, the 12 month rolling stats point to an 11% increase in the dollar volume of sales of single family dwellings. Activity for waterfront homes, measured by the dollar volume of sales has jumped 176%. The average price is up 13% to $579,739 on 22 sales.
The renewed interest in the waterfront sector is thought to reflect a change in investment patterns away from the United States. The improved waterfront and rural acreage sectors underpin the strength in other market areas.