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Real Estate Fast Facts on the Comox Valley


⌂ In the 12 months ending November 30th, 2015, there were 1562 sales of all property types, an 8% 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 1510.

⌂ The 12 month average sale price of a Comox Valley home is $364,196, up 2% from 2014. The average lot price is $172,477, up 16%. If you purchased an ‘ average’ home in 2005, you paid $252,516. If you bought an average lot in 2005, you paid $127,973.

⌂ YTD in 2015, 80 houses per month have 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.) 72% of all residential sales occurred in the municipalities of Comox - 27%, Courtenay – 38%, and Cumberland - 7%.

⌂ Houses make up 55% of the 615 r esidential properties currently offered for sale (condos – 39%, mobiles - 2%, duplexes – 4 %.) The current active inventory of all properties is 1012, a 16% reduction from November, 2014.


⌂ If you bought an average home in Cumberland in 2005 you paid $177,333. Today’s price is $295,769. The largest local current average sale price differential is between the old City of Courtenay ($287,973) and Crown Isle ($518,110).


⌂ YTD in 2015, 38 houses have sold for less than $200,000. In all 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 YTD 2015 – four. The 12 month median price (half sales above, half sales below) is $348,000.


⌂ The YTD residential sales pattern in the Comox Valley shows that 38% of all single family dwelling sales occurred between $250,000 and $350,000. The October list/sell ratio was 85% and listings sold for 95% of asking price in 86 days. The average price of sales completed d uring the month was $340,689, a drop of over $56,000 from sales in the month prior.


⌂ Based on YTD 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: (1.) A development permit has been approved for a renovation project for the Westerly Hotel in Courtenay to convert existing hotel suites into 48 seniors residences. ( 2.) Plans for development permit and rezoning applications are being finalized for a new multi-storey building in Courtenay - Tiger Lily at Courtenay River - a full-service, multiple-care-level seniors’ retirement residence with condominiums and rental apartments for independent living, supportive living, assisted living and dementia care. (3.) The Vista Housing Society has finalized design for its proposed affordable housing development for adults and seniors over the age of 55 at 2240 Comox Avenue in Comox. The proposed project includes 74 self-contained units built on the site; 38 units will be designated as affordable housing with the remaining 36 units being set at market rates.


Created by MGD for RE/MAX Ocean Pacific Realty from Building Links and VIREB stats, November 30th , 2015.