2017 in Review & Market Conditions 

Wondering what is happening in the Valley these days with respect to residential properties?  Affordable housing now means in the Comox Valley, just like in the big centers, that you are starting with a condo!

These statistics are provided from the Vancouver Island Real Estate Board

 

Single Family Dwelling Analysis of Listings in December and Sales since Jan 2017:

Price Range                   Sell/List Ratio
$100,000—$199,999
0 Listing | 10 Sales              90%


$200,000—$299,999
6 Listings | 53 Sales           82%


$300,000—$399,999
15 Listings | 184 Sales        84%


$400,000—$499,999
41 Listings | 357 Sales        83%


$500,000—$599,999
42 Listings | 186 Sales        76%


$600,000—$750,000
28 Listings | 149 Sales        72%


$750,000—$999,999
27 Listings | 69 Sales          56%


$1,000,000—$3,999,999
29 Listings | 31 Sales          33%

Average Price 

MLS takes all the sales for a time period adds their dollar amount and divides by the number of sales.

  • The 2017  average is $491,425
  • The 2016 average is $413,478

Median Price
This is the absolute middle price, in other words, there are the same number of sales this price as there are above price.

  • The 2017  average is $470,000
  • The 2016 average is $395,000

Sell to List Ratio
This shows the percentage of sales in comparison to the amount of listings there are. Typically there is a monthly percentage and a yearly one. The higher the percentage, the busier the market and a stable market would typically be around 55-65%. A seller’s market is over 65% and a buyer’s market is below 55%.

  • The 2017 Sell/List Ratio is 78%
  • The 2016 Sell/List Ratio is 85%

Seller to List Price Ratio
Is a percentage showing what the property sold for in comparison to its list price. It is shown monthly and for the year.

  • The 2017 Seller/List Price Ratio is 96%
  • The 2016 Seller/List Price Ratio is 98%
** For the monthly figure this can be misleading. If there are disproportionate amount of higher or lower sales, it skews the average in that direction. All of these statistics can be broken down by area: Courtenay City, Comox, Cumberland, Courtenay East etc.
The can be broken down by product: single family, condo apartment, condo townhouse, lots, acreage etc.
There is wide a variation of interpretation to these statistic and there are a number of other factors which influence them. At Royal LePage, we pride ourselves on keeping you as informed as we can on the market. We would be happy to meet with you to discuss any of these stats further.

Contact any of our agents at any time or stop in at one of our 7 Comox Valley locations to discuss the current Market Conditions, to arrange a FREE market valuation of your property or just to find out what is happening with Real Estate in the Valley!

Yours Truly,

Gregg Hart

Owner/Managing Broker