Current Market Conditions for 2017

 

Wondering what is happening in the Valley these days with respect to residential properties?

These statistics are provided from the Vancouver Island Real Estate Board

 

 2017 Single Family Dwelling Analysis:

Price Range                   Sell/List Ratio
$100,000—$199,999
0 Listing | 10 Sales              91%


$200,000—$299,999
6 Listings | 49 Sales           78%


$300,000—$399,999
16 Listings | 179 Sales        83%


$400,000—$499,999
51 Listings | 318 Sales        79%


$500,000—$599,999
46 Listings | 173 Sales        77%


$600,000—$750,000
40 Listings | 132 Sales        67%


$750,000—$999,999
30 Listings | 64 Sales          49%


$1,000,000—$3,999,999
29 Listings | 29 Sales          32%

Average Price 

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

  • ** The month average is $472,598
  • The 12 month/year average is $487,861
  • Since January 1, 2017 is $489,875

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

  • The month is $465,000
  • The 12 month/year average is $469,900
  • Since January 1, 2017 is $470,000

Sell to List Ratio
This shows the percentage of sales in comparison to the amount of listings there are. Typically there is a monthly percentage and a yearly one. The higher the percentage, the busier the market and 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 90%
  • The 12 month/year average is 78%
  • Since January 1, 2017 is 77%

Seller to List Price Ratio
Is a percentage showing what the property sold for in comparison to its list price. It is shown monthly and for the year.

  • ** The month is 97%
  • The 12 month/year average is 98%
  • Since January 1 is 98%
** 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.
The can be broken down by product: single family, condo apartment, condo townhouse, lots, acreage etc.
There is wide a variation of interpretation to these statistic and there are a number of other factors which influence them. At Royal LePage, we pride ourselves on keeping you as informed as we can on the market. We would be happy to meet with you to discuss any of these stats further.

Contact any of our agents at any time or stop in at one of our 7 Comox Valley locations to discuss the current Market Conditions, to arrange a FREE market valuation of your property or just to find out what is happening with Real Estate in the Valley!

Yours Truly,

Gregg Hart

Owner/Managing Broker