Market Minutes by Kutyn

Market Minute
by KUTYN

Is The Sap Rising?

 

Spring can often trigger real estate market activity, weather we like it or not.

The statistics for the Comox Valley and the Campbell River markets seem to tell slightly different stories this month. March single family sales in Comox were down 41% in dollar volume, compared to last year. The Sell / List Ratio is down last month from 66% to 39%. There are more listings this March; up 31.5% to 225 from 171 last March. It is reported that there is pent up demand. So, maybe, just maybe, pricing is the issue.

The Campbell River March stats reflect a healthy Sell / List Ratio of 74%, and a 10% increase in the dollar volume of sales.  The average price was up 4% to $470,108, compared to the month of March last year.

Overall, both markets continue to offer good liquidity; 48 days (and rising) in the Comox Valley, 32 days (and falling) in Campbell River.

 

Comox Valley

Mar 2019 VIREB stats

Single Family Dwelling Sales

118, down 31% YTD Jan 1 – Mar 31

715, down 19% 12 MTD In the past 12 months

Average Price

$553,547, up 10% average sale price based on 715 sales

 

 

Campbell River
Mar 2019 VIREB stats

Single Family Dwelling Sales

95, down 1% YTD Jan 1 – Mar 31

486, down 19% 12 MTD In the past 12 months

Average Price

$461,535, up 12% average sale price based on 486 sales

 

 

“A wise man takes advise”- The Good Book

 

 

 

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

 

Copyright © 2019 Kutyn Property Services Ltd, All rights reserved.
We are sending this email because you are a valued business contact and want to familiarize you with the new look of our website and Market Minute.Our mailing address is:
PO Box 1570, Comox BC V9M 8A2