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.

• The month average is $573,443
• The 12 month/year average is $519,867
• Since January 2018 is $542,948

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 $530,000
• The 12 month/year average is $489,000
• Since January 2018 is $520,000

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 83%
• The 12 month/year average is 79%
• Since January 2018 is 76%

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 99%
• The 12 month/year average is 98%
• Since January 2018 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,