Despite a slight dip in the number of home sales and sale prices in December 2010, the number of listings are on the rise compared to last year — good news for buyers and sellers who have priced their home right.
According to the Vancouver Island Real Estate Board (VIREB), the average sale for the Comox Valley in 2010 is $323,914, down five per cent from $339,584 in 2009.
The average sale price of $333,710 is down two per cent from December 2009 when the average sale price was $342,151.
“Steady job growth, an improving economy and low mortgage rates signify that the roller coaster is over and both buyers and sellers can expect a steady real estate market. Local realtors are the best resource when it comes to setting a realistic price for buying or selling real estate. That price will vary from region to region and from neighbourhood to neighbourhood,” said Cliff Moberg, VIREB 2011 past president.
Jim Stewart, VIREB 2011 president, also sees a return to a market that is more predictable and stable.
“It appears the uncertainty of past years is gone. For example, the arrival of the HST didn’t have the dramatic impact everyone thought it would have on new construction. New homes are still selling and that is because they are priced right. This creates a market that is predictable because much of the uncertainty and apprehension have diminished,” he noted.
— VIREB