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 March and Sales 

Below is an analysis showing active residential homes on the market as of March 31, 2018 by price range in comparison to the previous twelve months sales

Price Range                                    Sell/List Ratio

$100,000 – $199,999           0 Listings  |  4 Sales                            80%

$200,000 – $299,999          3 Listings  |  46 Sales                          85%

$300,000 – $399,999        13 Listings  |  179 Sales                        84%

$400,000 – $499,999       53 Listings  |  350 Sales                       83%

$500,000 – $599,999        46 Listings  |  198 Sales                        76%

$600,000 – $750,000        35 Listings  |  155 Sales                       71%

$750,000 – $999,999          34 Listings  |  77 Sales                         57%

$1,000,000 – $3,999,999  30 Listings  |  30 Sales                         31%

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.

  • The month average is $520,218
  • The 12 month/year average is $501,400
  • Since March 2017 is $511,623

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 $499,900
  • The 12 month/year average is $477,000
  • Since March 2017 is $489,000

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 65%
  • The 12 month/year average is 78%
  • Since March 2017 is 70%

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 98%
  • The 12 month/year average is 98%
  • Since March 2017 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.  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