by Christopher Kutyn

It is September, and where did the summer go?  For many in the real estate industry, the pace has been torrid. For every story I hear of a price reduction, there are two opportunities to have a wrestling match in a multiple offer situation. Oh Joy!

A broad overview of a few of the lead indicators suggests that it has been a good Summer in the Comox Valley and in Campbell River.  Average single-family house prices are up 18% and 16% respectively.  Apartment condos prices are up 19% and 27%.

We have highlighted concerns about low inventory levels and, partly as a result, the Days to Sell for the Comox Valley stands at 26 days, and 28 days for Campbell River. If you list your property, you better be ready to start packing.

In my view, The Village of Cumberland is poised to do an ‘end run’. The sale of the ‘Trilogy Lands’ (+/- 750 acres at or close to the highway interchange) has closed. The Village has another ace up its sleeve, with hundreds of acres within the municipality for ongoing residential development. The main drag is vibrant, and I hear the pizza at Riders is awesome.

Comox Valley

Single Family Houses Sold

626 20% YTD
865 13% 12MTD
$ 471,699 18% 12MTD

Campbell River

Single Family Houses Sold

416 11% YTD
600 4% 12MTD
$ 385,489 16% 12MTD
A man without ethics is a wild beast loosed upon the world. - Albert Camus

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.

Stay up to date with the local market
Sign up for the Market Minute

sign up

We're here to help