General Market Conditions

As of June 30, 2010.

Statistics are provided from VIREB.

Residential Single Family Homes

(View Map of Sale Locations in PDF Format)

         CONDO STATS ARE SINCE JAN 1st THIS YEAR

Condominiums (Apartments)

Condominiums (Patio Homes)

Condominiums (Town Homes)

May and June are usually very busy months, this year not so. We are seeing a lot of caution and bargain hunting. Median sale down to $339,000 again.

 

 

 

 

Below you will find an analysis showing active Residential Homes as of

June 30, 2010 by price range in 

comparison to previous twelve months sales.

Single Family Homes Analysis

Residential Inventory June 30, 2009

Raw Land Sales

Average Price - MLS takes all the sales for a time period (usually a month or year) adds their dollar amount and divides by the number of sales.

 

**The month of June average is           $362,222

The 12 month/year average is               $343,698

Since January 1, 2010                            $351,169

 

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

 

The month of June is                             $339,000

The 12 month/year is                            $335,000

Since January 1, 2010                           $342,000

 

List to Sales 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.  A stable market would typically be around 60-70%.  A seller's market over 70% and a buyers market below 60%.

 

The month of June is                               60%

The 12 month/year average is                60%

Since January 1, 2010                             45%

 

The Sell Price/ 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.

 

*June is                                                   95%

The 12 month/year average is                95%

Since January 1, 2010                             96%

 

**For the monthly figure this can be misleading. If there is a disproportionate amount of higher or lower sales, it skews the average in that direction.

  

All of these statistics canbe broken down by area, i.e. Courtenay City, Comox, Cumberland, Courtenay East, etc.  They can be broken down by product, i.e. single family, condo apartment, condo town house, 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, 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 further.