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Real Estate Fast Facts on the Comox Valley

  • In the 12 months ending July 31st, 2016, there were 2002 sales of all property types, a 29% increase over 2015. The highest number of annual sales was 2256 in 2007. The lowest was 879 in 1998. 2016 is only the second year of above average sales numbers since 2007. The twenty-two year average is 1531.

  • The twelve month average sale price of a Comox Valley home is $391,307, up 9% from 2015. The average lot price is $182,081, up 12%. 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, a record 117 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 - 24%, Courtenay – 39%, and Cumberland - 6%.

  •  Houses make up 62% of the 504 residential properties currently offered for sale (condos – 34%, mobiles - 1%, duplexes – 3 %.) The current active inventory of all properties is 812, a 39% reduction from 2015. Single family dwelling inventory is down 39%, condos down 40%.

  • If you bought an average home in Cumberland in 2006 you paid $177,333. Today’s price is $385,043. The largest local YTD average sale price differential is between the old City of Courtenay ($343,588) and Crown Isle ($608,020).

  • YTD in 2016, 16 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 - ten. The 12 month median price (half sales above, half sales below) is $370,900.

  • The 2016 residential sales pattern in the Comox Valley indicates 41% of all single family dwelling sales occur between $350,000 and $500,000. The list/sell ratio in July was 103%. The 12 month list/sell ratio is 81% and currently, listings sell for 98% of list 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.

  • From Building Links: St. Joseph’s General Hospital in Comox has issued a tender to seek responses from architectural firms with proven experience and qualifications in the design of residential complex care facilities, assisted living facilities, and seniors independent living facilities. The project is the complete redevelopment of the current St. Joseph’s Hospital site in Comox. Construction Statistics – for the first half of 2016 new single family home[permits are] up significantly compared to the same time last year, an increase of 51% for the region of Comox, Courtenay, Cumberland, the CVRD and Campbell River.

  • There are 177 REALTORS® in the Comox Valley among the 1029 members of the Vancouver Island Real Estate Board. The peak in the Valley was 240 in 1993.



Created by mgd for RE/MAX Ocean Pacific Realty from VIREB statistics and Building Links 2016-08-02