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Real Estate Fast Facts on the Comox Valley


  • In the 12 months ending April 30th, 2016, there were 1762 sales of all property types, an 18% increase over 2015.  The highest number of annual sales was 2256 in 2007.  The lowest was 879 in 1998.  The twenty-two year average is 1522.

  • The twelve month average sale price of a Comox Valley home is $376,104, up 5% from 2015. The average lot price is $181,624, up 17%. 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, 85 houses per month have sold.  (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.)  69% of all residential sales occurred in the municipalities of Comox - 30%, Courtenay – 32%, and Cumberland - 7%.   

  • Houses make up 64% of the 659 residential properties currently offered for sale (condos – 30%, mobiles - 3%, duplexes – 3 %.)  The current active inventory of all properties is 1029, a 23% reduction from 2015.

  • If you bought an average home in Cumberland in 2006 you paid $177,333.  Today’s price is $375,558.  The largest local current average sale price differential is between the old City of Courtenay ($339,878) and Crown Isle ($608,725).

  • YTD in 2016, 6 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 - two.  The 12 month median price (half sales above, half sales below) is $357,500.

  • The 2016 residential sales pattern in the Comox Valley indicates one third of all single family dwelling sales occurred between $350,000 and $500,000. The twelve month list/sell ratio is 76% and currently, listings have sold for 98% of asking price in 45 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.

  • YQQ – aka the Comox Valley Airport – reported a record number of 351,350 passengers in 2015, up 10% from the prior year, breaking the previous record set in 2012.  Increased service and capacity from WestJet and Air Canada were cited. Other carrier discussions are ongoing.

Created by mgd for RE/MAX Ocean Pacific Realty with data from the VIREB 2016-05-09