Back to Blog

Real Estate Fast Facts on the Comox Valley 2015 Summary


⌂ In the 12 months ending December 31st, 2015, there were 1597 sales of all property types, an 11% increase over 2014. The highest number of annual sales was 2256 in 2007. The lowest was 879 in 1998. The twenty-two year average is 1512.


⌂ The 2015 average sale price of a Comox Valley home is $363,631, up 1% from 2014. The average lot price is $169,097, up 12%. 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.) 74% of all residential sales occurred in the municipalities of Comox - 27%, Courtenay – 39%, and Cumberland - 8%. ⌂ Houses make up 55% of the 519 residential properties currently offered for sale (condos – 40%, mobiles - 1%, duplexes – 4 %.) The current active inventory of all properties is 892, a 15% 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 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 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% of all single family dwelling sales occurred between $250,000 and $350,000. The 2015 list/sell ratio was 69% and listings sold for 96% of asking price in 65 days.


⌂ Based on 2015 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.


⌂ 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%. (Recreational properties on Mt. Washington sold for 92% 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.