Single Family Dwelling Analysis of Listings and Sales for February 2019 in the Comox Valley

Below is an analysis showing active residential homes on the market as of February 2019 by price range in comparison to the previous twelve  months sales.

Price Range                    Sell/List Ratio

$100,000 – $299,999          6 Listings  |  12 Sales                           72%

$300,000 – $399,999        13 Listings  |  99 Sales                           84%

$400,000 – $499,999       36 Listings  |  229 Sales                         79%

$500,000 – $599,999        45 Listings  |  240 Sales                        76%

$600,000 – $750,000       76 Listings  |  155 Sales                         58%

$750,000 – $999,999         46 Listings  |  120 Sales                       59%

$1,000,000 – $3,999,999  23 Listings  |  38 Sales                          30%

Sellers Need To Know…. as of February 2019

Average Prices 

MLS takes all the sales for a time period, adds their dollar amount and divides by the number of sales.

• **The month average is $609,352
• The 12 month/year average is $549,331
• Since January 2019 is $581,643

Median Price

This is the absolute middle price, in other words, there are the same number of sales in this price as there are above this price.

• **The month is $584,900
• The 12 month/year average is $524,900
• Since January 2019 is $525,500

Sell to List Ratio

This shows the percentage of sales in comparison to the amount of listings there are.  The higher the percentage, the busier the market.  A stable market would typically be around 55-65%. A seller’s market is over 65% and a buyer’s market is below 55%.

• **The month is 61%
• The 12 month/year average is 70%
• Since January 2019 is 60%

Sell to List Price Ratio

This is a percentage showing what the property sold for in comparison to it’s list price.  It is shown monthly and for the year.

• **The month is 97%
• The 12 month/year average is 97%
• Since January 2019 is 96%

Stats Over the Past 3 Years

**For the monthly figure this can be misleading.   If there are disproportionate amount of higher or lower sales, it skews the average in that direction.  All of these statistics can be broken down by area:  Courtenay City, Comox, Cumberland, Courtenay East, etc.  They can also be broken down by product:  single family, condo apartment, condo townhouse, lots, acreage, etc.

There is a wide variation of interpretation to these statistics and there are a number of other factors which influence them.  At Royal LePage In The Comox Valley we pride ourselves on keeping you as informed as we can on the current market conditions.  We would happily meet with you to discuss any of these further!

Contact us anytime!

Yours Truly,

Gregg Hart

Owner/Managing Broker