Royal LePage In The
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 March and Sales
Below is an analysis showing active residential homes on the market as of May 31, 2018 by price range in comparison to the previous twelve months sales
Price Range Sell/List Ratio
$100,000 – $199,999 1 Listings | 2 Sales 50%
$200,000 – $299,999 1 Listings | 38 Sales 86%
$300,000 – $399,999 21 Listings | 153 Sales 79%
$400,000 – $499,999 47 Listings | 338 Sales 79%
$500,000 – $599,999 69 Listings | 228 Sales 73%
$600,000 – $750,000 58 Listings | 168 Sales 65%
$750,000 – $999,999 45 Listings | 80 Sales 53%
$1,000,000 – $3,999,999 43 Listings | 36 Sales 30%
Sellers Need To Know….
Average Prices in March
MLS takes all the sales for a time period, adds their dollar amount and divides by the number of sales.
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.
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%.
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.
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!