Comox Valley real estate fast facts for 2015

Eleven per cent increase in sales over 2014

  • Jan. 6, 2016 1:00 p.m.

Comox Glacier

• In the 12 months ending Dec. 31, 2015, there were 1,597 sales of all property types, an 11 per cent increase over 2014.  The highest number of annual sales was 2,256 in 2007.  The lowest was 879 in 1998.  The 22-two year average is 1512.

• The 2015 average sale price of a Comox Valley home is $363,631, up one per cent from 2014. The average lot price is $169,097, up 12 per cent. If you purchased an ‘average’ home in 2005, you paid $252,516.  If you bought an average lot in 2005, you paid $127,973.

• In 2015, 78 houses per month sold.  (In all 2014 -73 per month, for 2013 – 68, for 2012 – 68, 2011 – 66, for 2010 – 68, for 2009 – 73, for 2008 – 69, for 2007 – 100.)  Seventy-four per cent of all residential sales occurred in the municipalities of Comox – 27 per cent, Courtenay – 39 per cent, and Cumberland – 8 per cent.

• Houses make up 55 per cent of the 519 residential properties currently offered for sale (condos – 40 per cent, mobiles – one per cent, duplexes – four  per cent.)  The current active inventory of all properties is 892, a 15 per cent reduction from 2014.

• If you bought an average home in Cumberland in 2005 you paid $177,333.  Today’s price is $296,825.  The largest local current average sale price differential is between the old City of Courtenay ($291,406) and Crown Isle ($514,985).

• In 2015, 41 houses sold for less than $200,000.  In 2014 – 35.   In 2013 – 47, in 2012 – 37, in 2011 – 36, in 2010 – 29, in 2009 – 37.  There were 10 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 and in 2015 – four.  The 12 month median price (half sales above, half sales below) is $348,000.

• The 2015 residential sales pattern in the Comox Valley shows that 38 per cent of all single family dwelling sales occurred between $250,000 and $350,000. The 2015 list/sell ratio was 69 per cent and listings sold for 96 per cent of asking price in 65 days.

• Based on 2015 market activity, when 10 houses sell in the Comox Valley, seven are in the urban centres, 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.

• In 2015, the best area of the Comox Valley for the quickest sale was Merville/Black Creek where homes that sold were on the market for 39 days.

• In 2015, if you were a buyer, the lowest sale price compared to asking price occurred in Courtenay West and on the Comox Peninsula, where the ratio was 93 per cent. (Recreational properties on Mount Washington sold for 92 per cent of asking price. There were 15 sales, averaging 331 days on the market).

• There are 170 Realtors in the Comox Valley among the 972 members of the Vancouver Island Real Estate Board. The peak in the Valley was 240 in 1993.

 

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