Market Minutes by Jackson & Associates Ltd.

Market Minute
by Jackson & Associates Ltd.

 

Strong Sales to Start the Year!

 

Activity in the residential sector of the market continued at a rapid pace throughout  January in most market sectors.

Increases in Benchmark home prices were reported in both the Comox Valley and Campbell River along with increases in sales volumes and decreases in listing volumes.

Sales volumes (SF) were up 146% in Campbell River in  January 2021 over January 2020 with the Comox Valley showing a more modest 20% increase in unit sales.

CMHC also released their 2020 Rental Market Report in late January indicating a decrease in vacancy rates from 1.4% in 2019 to 1.1% in 2020 (Comox Valley) and a modest increase from 0.4% in 2019 to 0.7% 2020 in Campbell River.  Average apartment rentals also increased by 8% in Campbell River and 12% in the Comox Valley over the 2019-2020 time period.

Happy Valentines Day and Lunar New Years to all of our clients and friends!

 

 

Comox Valley

January 2021 VIREB stats

Single Family Dwelling Sales

36 Sales (January), up 20% (vs. January 2020)

85 Active Listings, down 62% (vs. January 2020)

Benchmark Price

$620,100 up 10.5% over January 2020

 

 

Campbell River

January 2021 VIREB stats

Single Family Dwelling Sales

32 Sales, up 146% (vs. January 2020)

47 Active Listings, down 61% (vs. January 2020)

Benchmark Price

$528,000 up 14% over January 2020

 

 

Sometimes, getting up in the morning and brushing your teeth is the hardest part of the day – it all just hurts.

– Tom Brady

 

 

 

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

 

Jackson & Associates Ltd.
Valuation & Advisory Services

Phone:250.338.7323
Email: dan-wsj@shaw.ca

 

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