Welcome to Royal LePage

in the Comox Valley

2018 Market Conditions

Curious about what is happening in the Valley these days with respect to residential properties?  Affordable housing in the Comox Valley, just like in big centers, now means that you are starting with a condo!

These statistics are provided from the Vancouver Island Real Estate Board

Single Family Dwelling Analysis of Listings

in February and Sales Since January 2018

Below is an analysis showing active residential homes on the market as of February 28, 2018 by price range in comparison to the previous twelve months sales

Price Range                               Sell/List Ratio

$100,000 – $199,999           0 Listings  |  6 Sales                             86%

$200,000 – $299,999          4 Listings  |  51 Sales                           82%

$300,000 – $399,999        13 Listings  |  180 Sales                        84%

$400,000 – $499,999       48 Listings  |  366 Sales                       82%

$500,000 – $599,999        40 Listings  |  191 Sales                        77%

$600,000 – $750,000        34 Listings  |  153 Sales                       71%

$750,000 – $999,999          27 Listings  |  77 Sales                         60%

$1,000,000 – $3,999,999  22 Listings  |  30 Sales                         34%

Sellers Need To Know….

Average Price

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

  • The month of February average is                   $519,142
  • The 12 month/year average is                          $496,735
  • Since February 2017                                           $505,866

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 of February is                                $490,000
  • The 12 month/year average is                        $422,000
  • Since February 2017                                         $487,500

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 of February is                       69%
  • The 12 month/year average is                79%
  • Since February 2017                                 74%

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 of February is                      98%
  • The 12 month/year average is               79%
  • Since February 2017                                74%

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