⌂  In the 12 months ending June 30th, 2016, there were 1936 sales of all property types in the Comox Valley, a 24% increase over 2015.  The highest number of annual sales in the was 2256 in 2007.  The lowest was 879 in 1998.  2016 is only the second year of above average sales numbers since 2007.  The twenty-two year average in the Comox Valley is 1529.

 

⌂  The twelve month average sale price of a Comox Valley home is $387,712, up 9% from 2015. The average lot price is $184,294, up 16%. If you purchased an ‘average’ home in 2006, you paid $293,254.  If you bought an average lot in 2006, you paid $149,128.

 

⌂  YTD in 2016, a record 114 houses per month have sold in the Comox Valley. (In all 2015 – 78, for 2014 -73, for 2013 - 68, for 2012 - 68, 2011 - 66, for 2010 - 68, for 2009 - 73, for 2008 - 69, for 2007 - 100.)  70% of all residential sales occurred in the municipalities of Comox - 25%, Courtenay – 39%, and Cumberland - 6%.  

 

⌂  Houses make up 65% of the 525 residential properties currently offered for sale (condos – 32%, mobiles - 1%, duplexes – 2 %.)  The current active inventory of all properties is 855, a 37% reduction from 2015. Single family dwelling inventory is down 37%.

 

⌂  If you bought an average home in Cumberland in 2006 you paid $177,333.  Today’s price is $311,050.  The largest local YTD average sale price differential is between the old City of Courtenay ($347,288) and Crown Isle ($606,792).

YTD in 2016, 12 houses have sold for less than $200,000.  In all 2015 - 41.  In 2014 – 35, in 2013 – 47, in 2012 – 37, in 2011 – 36, in 2010 – 29, in 2009 - 37.  There were ten residential sales over $1 million in 2008.  In 2009 – three, in 2010 – one, in 2011 – two, in 2012 – none, in 2013 – five, in 2014 – six, in 2015 – four and YTD 2016 - ten.  The 12 month median price (half sales above, half sales below) is $369,500. 

 

⌂  The 2016 residential sales pattern in the Comox Valley indicates 42% of all single family dwelling sales occur between $350,000 and $500,000. The list/sell ratio in June was 98%. The 12 month list/sell ratio is 81% and currently, listings sell for 98% of list price in 43 days.


⌂  Based on 2016 market activity, when ten houses sell in the Comox Valley, seven are in the urban centers, three are rural. One is priced under $250,000, seven are priced from $250,000 to $500,000 and two are priced over $500,000.


⌂  From Building Links: One of the bids for the Fixed-Wing Search and Rescue Aircraft Replacement Project has officially named Comox as its location of choice for the Search and Rescue (SAR) Training Centre. Should this project move forward, the training centre will be a 72,000 sq. ft., three-storey facility with classrooms, simulators and a training hangar to house a full-scale C-27J maintenance training aircraft platform. The centre will take up to four years to build. The government is expected to consider this project for approval in the fall of 2016.

⌂  There are 177 REALTORS® in the Comox Valley among the 1027 members of the Vancouver Island Real Estate Board. The peak in the Valley was 240 in 1993.

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