Market Minute by KUTYN

Market Minute by KUTYN

Great time to list…

 

The statistics indicate that for both the Comox Valley and Campbell River the number of units sold is down compared to last year. However, average prices are up 19% and 18% respectively and inventory levels are low. Two years ago there were 257 single family dwellings for sale in the Comox Valley, and now there are 170. In Campbell River there are 89 houses for sale at this time.

Last month we highlighted the ‘the perfect storm’ whereby supply is tight and there is aggressive demand. The government is taking some steps to tinker with the demand side. In our view much could be accomplished on the supply side by simply getting out of the way.

 

Comox Valley

Nov 2017 VIREB stats

Single Family Dwelling Sales

840, down 15% YTD Jan 1 – Nov 30   873, down 16% 12 MTD In the past 12 months

Average Price

$487,861, up 19% average sale price based on 873 sales

 

 

Campbell River

Nov 2017 VIREB stats

Single Family Dwelling Sales

584, down 6% YTD Jan 1 – Nov 30   615, down 6% 12 MTD In the past 12 months

Average Price

$405,456, up 18% average sale price based on 615 sales

 

 

“God Almighty has set before me two great objects: the supression of the Slave Trade and the reformation of manners” – William Wilberforce

 

 

 

The Market Minute this month has been authored by Chris Kutyn.  Chris’s bio is available here.

 

Kutyn Property Services Phone:250.890.3320 Email: chris@kutyn.com

 

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Suite 302-1819 Beaufort Ave.

Comox, BCV9M 1R9

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