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Average Price of Properties in Comox Valley

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Over the last few months, real estate prices have continued to grow across Canada. The national average price for a home jumped up more than 20% according to the Canadian Real Estate Association. This left the average price of homes in Canada at a whopping $816,720. The massive increase in demand for more spacious homes and recreational opportunities has gone hand-in-hand with high real estate prices. People are searching for properties that will ensure the highest quality of life while working remotely. A shift in priority to put one’s lifestyle before work is certainly present in today’s economy. If you are interested in learning more about the cost of housing and what’s to come for properties in Comox Valley, Continue reading along below!

Is There Hope on the Horizon for Canadian’s in Real Estate?

The vast increases in price have allowed outside investors to get a glimpse of what the Canadian real estate market currently looks like. Despite the pandemic, real estate costs have continued to skyrocket. The cost at which houses are going for continues to shock real estate agents whose main focus is on selling. Competition is an aggressive element in the present market. Buyers are one-upping each other with steep offers in order to secure a home. 

Thus, putting sellers in an incredible position to make a large profit. Furthermore, the aggregate composite home price index was up 3.5% relative to last year during February. Indicating, that this was the strongest monthly gain on record. All of this is according to BMO Capital Markets’ senior economist Robert Kavcic. 

Prices are going up at an innumerable rate and investors are a key component in the increase in demand. Canadians are now buying presale homes in places far from their current home. 

Fear is yet another factor in high home prices. Hostile bidding wars and a lack of homes on the market are driving up the cost of real estate. People are afraid that they won’t be able to find a suitable place to live once they sell their homes. However, now that restrictions are being lifted in B.C, the question of whether or not people will list their homes for sale is posed. 

For the time being, many Canadian residents are left out of options when it comes to finding real estate. The average Canadian doesn’t have an infinite amount of money to spend on real estate. Moreover, the ability to bid on any given number in order to keep up with other interested buyers is a luxury. It is because of the lack of affordability that many Canadians are faced with a dead-end in their real estate goals.

Trends in Canadian Real Estate Reflective of Comox Valley’s Market Condition. 

The Canadian Real Estate Association predicts that the national average home price will settle around $786,000 at the end of 2022. Which is a 14.3 percent increase year-over-year. For reference, the average price of a property in Comox Valley last month was $814,500. CREA’s predictions are lower than the national average for February of 2022. This is because they believe that the high prices we are currently seeing will drop off by the end of the year. This is an important stat to consider, as it foreshadows balance in the future of Canada’s real estate market.

For buyers who have been patiently waiting for things to drop off, things might start to look up in the coming weeks/months. With new interest rate increases from the Bank of Canada, fewer COVID-19 restrictions, and war in Ukraine, bids are slowing down. Signs of cooling are beginning to surface throughout B.C and other provinces.

Although, it does remain unclear whether or not sellers will ramp up again. Or, remain quiet as we head towards the summer months. Overall, CREA believes that national home sales will end up dropping 8 percent from 2021 this year. This is to be followed by an increase of 2.7 percent in 2023.

Buy and Sell Properties in Comox Valley!

Check out this article by the Comox Valley Record for more statistics on this topic! If you want to remain in the loop with the quickly changing Canadian real estate market, stay tuned to our blog. Properties in Comox Valley are highly sought after given the current conditions. For those who are interested in learning more about real estate in Comox Valley, reach out to us today. We’d be more than happy to help answer any questions that you may have about buying or selling real estate during a time like this. Contact us now and let our team of experts guide you through your real estate goals. We look forward to working with you in the near future!

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January Update on Comox Properties For Sale

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The Canadian real estate market continues to break records as prices reach newfound heights. The Vancouver Island Real Estate Board just revealed the latest stats for the month of January. If you’ve been following the trends in Canadian real estate, it should come as no surprise that prices were high and inventory was low. It is unknown for how long the market will remain favourable to sellers. However, many first-time buyers and new families are hopeful that the time will come sooner rather than later. As of now, Comox Properties for sale are experiencing a huge jump in price point.

Active listings of single-family homes were 39% lower than January 2021 on Vancouver Island. In the VIREB report, it is said that the market is so out-of-balance that without a substantial decrease in demand, active listings will not return to a healthy state. While inventory has always been an issue for many British Columbians over the years, it seems it has all come to a head. Given the pandemic and poor planning, many citizens are now left scrambling to find somewhere appropriate to live. 

Comox Pricing and Why Such Steep Costs?

Increasing amounts of time spent indoors is a major factor in why so many people are eager to move out. Finding somewhere with more space is a big draw for current buyers. Moreover, there is rumoured to be an influx of people moving to areas in and around the province for these very reasons. It is also affecting the number of people who are willing to sell their homes and downsize. For instance, the older generations who are now hitting retirement age and refusing to leave their single-family homes. 

The severely low housing stock is causing a crisis for low-income families. As well as other individuals who cannot afford to pay such steep prices for real estate. In Comox Valley, the year-over-year benchmark price jumped up 32%. Thus, making the average single-family home price a grand $814, 500. 5 years ago the same house would be afforded for almost half the cost, at $412,000! Since last January Comox Properties for sale have gone up 31.8%.

Given such steep prices, many people are trying to find other ways to accommodate themselves. Renting, however, appears to be just as expensive as buying to some degree. After a down payment of 5-10%, plus mortgage payments, many people are finding that renting isn’t any cheaper than buying. This leaves minimal options available to anyone who can’t stomach the cost of an $800,000+ home. 

Stay Up-To-Date on Comox Properties for Sale!

If you want to remain in the loop with the ever-changing real estate prices, stay tuned to our blog. Comox properties for sale are hot commodities given the current conditions. For those who are interested in learning more about real estate in Comox Valley, reach out to us today. We’d be more than happy to help answer any questions that you may have about buying or selling real estate during a time like this. Contact us now and let our team of experts guide you through your real estate goals. We look forward to working with you in the near future!

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Royal LePage Comox Presents a 2021 Real Estate Wrap Up!

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To celebrate the end of 2021, Royal LePage Comox has decided to write a year-end recap on all of our blog articles from the year. By reading what we’ve written below, you’ll get a chance to catch up on any missed content from the year. From April to November we have written all kinds of helpful real estate articles to ensure our clients stay ready! Follow along below as we summarize each article from 2021. Be sure to view the full posts by clicking the article titles in the summaries if you haven’t already.

April 2021 – Why Invest in Real Estate in Comox Valley?

Real Estate in Comox Valley

Not everyone knows about the awesome perks of living in a place like Comox Valley. In this article, we wrote all about the stunning landscape and beautiful outdoor scenery available to Comox residents. Discover the benefits of living on Vancouver Island and why so many people are choosing to in Comox! From festivals and markets to gorgeous views and a great culinary scene, Comox is the place to be. Read the article “Why invest in real estate in Comox Valley“!

May 2021 – Comox Valley Real Estate for Retirees!

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Comox Valley is a great place to plan your retirement. The slow-paced lifestyle is perfect for anyone looking to spend their retirement in peace. Moreover, the outdoor life in Comox provides retirees with endless activities seasonally. Residents of Comox can ski, swim, hike, and bike without leaving the city! For more information on why you should retire in Comox Valley, view the article “Comox Valley Real Estate for Retirees”.

June 2021 – Comox Valley homes for sale – Deciding between open and closed concept housing.

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Deciding between open and closed concept housing is a big challenge for many homeowners. An open concept home is great if you like your house to flow seamlessly from room to room. However, there are cons like noise pollution and lack of privacy that also come with an open floor plan. Closed concept homes are great for those who like a little more privacy, although there is usually minimal natural light in a closed concept home. To read more about the pros and cons of open vs closed concept housing, check out the article “Comox Valley homes for sale – Deciding between open and closed concept housing”. 

July 2021 – 10 common questions about Comox Valley real estate brought you by Royal LePage Comox

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When it comes to buying real estate, many questions can arise. In lieu of this, we wrote an article detailing the answers to your most pressing questions. For instance, what a buyer’s market is and what a seller’s market is. Or, why you definitely need a home inspection! Find all sorts of helpful tips and info in this article. To view the full piece, check out our post “10 common questions about Comox Valley real estate”.

August 2021 – Moving to Houses for sale Comox Valley

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Summer in British Columbia was smokier than ever! But, not that bad in Comox Valley. Many people packed up their things and headed for the coast when wildfire season started. Fire season is a prime factor in why so many British Columbians choose to settle on Vancouver Island. In the last few years, the Island has also had limited numbers of COVID-19 cases. Make Comox Valley your newest home and enjoy clear skies and limited illness. To read more about the benefits of moving to Comox, check out the post “Moving to Houses for sale Comox Valley”.

September 2021 – Comox Houses For Sale are Close to Mount Washington!

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Comox Valley houses for sale are close to Vancouver Island’s favourite ski hill! If you love skiing, snowboarding, or winter fun, Mount Washington is the place for you. Luckily, residents of Comox are super close to this epic ski hill. Wake up to the ocean waves crashing against the beach, then head up to the mountain for an afternoon of skiing, and end your day with a drive through the forest. For more information about Mount Washington and all of its perks, take a peek at the article “Comox Houses For Sale are Close to Mount Washington”.

October 2021 – Parks Near Houses In Comox Valley!

Comox Valley has all sorts of parks and outdoor places for you to explore. In October, we kick-started our ‘Park’ content. In these articles, buyers can find info about all of the various provincial parks and hidden gems of Comox Valley. Our first article focused on the popular park known as Miracle Beach Provincial Park. This gorgeous place has something for everyone in the family. To read more about Miracle Beach Provincial Park, check out the post “Parks Near Houses In Comox Valley”.

November 2021 – Homes in Comox Valley Near Parks!

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In November we continued our park content and wrote about MacDonald Wood Park. This stunning outdoor area has trails, ocean views, and a whole lot of heritage. By reading the full article you can discover the rich history of this park. Moreover, we wrote about the history and future projects of the MacDonald Wood Park Society. To learn more about MacDonald Wood Park, take a read through the post “Homes in Comox Valley Near Parks”.

At Royal LePage Comox we want to thank our clients for another great year in real estate! 2021 came with lots of surprises and we were happy to have all of you stick with us. Check back next month for more real estate content and information. As always, be sure to contact us with any questions or concerns you may have. We look forward to working with you in the new year. And be sure to follow along with us on Facebook!

Happy holidays to everyone!

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Homes in Comox Valley Near Parks!

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Homes in Comox Valley are right around the corner from some of the island’s greatest parks! The scenery in this little town is absolutely breathtaking. With the ocean bordering one side of the town, and dense forests bordering the other. Comox is a truly gorgeous place to call home. 

Last month we covered Miracle Beach Provincial Park – a resident favourite spot! Following that theme, we are going to be writing about another awesome outdoor park. MacDonald Wood Park has trails, a beach, and a community dedicated to the environment. If you’re a newcomer to Comox, this park is a must-see.

Continue reading about the park below!

MacDonald Wood Park is Close to Homes in Comox Valley!

Picture an afternoon of peacefully strolling through some of Comox’s biggest cedars. Sound good? We think so. MacDonald Wood Park is close to a variety of homes in Comox. Residents can find MacDonald Wood Park at 128 Croteau Rd. The Park is in close proximity to Marina Park, and Comox Golf Club. Residents living near these areas can walk, bike, or run to the Park for a scenic outdoor experience. 

Moreover, the Park was established in April of 1996 in order to protect and preserve the 3.6 hectares of beachfront forestland. Efforts to preserve the integrity of the park were done by the MacDonald Wood Park Society volunteer stewards (MWPS). To this day, people living in the area are encouraged to volunteer and help out with the park’s society. Furthermore, the Park was bought by the MacDonald Wood Park Society, the Town of Comox, and the province after their insistent effort.

The MacDonald Wood Park Society has many visions for the preservation and well-being of the park. They hope to maintain and upgrade the forest in every way they can while still protecting the salt marsh and First Nations midden. Additionally, they aspire to eliminate non-native species that could harm the Park. The MWPS recognizes how important a role this park plays in the Comox Park system. All members are aware of the biodiversity and sanctuary within the Forest. 

Homes in Comox Valley are lucky to be so close to such an incredible Park! The MWPS has fought hard to ensure that the Park remains in the public domain for all residents to experience. Visit MacDonald Wood Park for a day of passive recreation and a chance to see some of mother nature’s finest!

Getting Involved, The History & Other MWPS Projects!

If you are a lover of the outdoors and passionate about preserving nature, you can join the MacDonald Wood Park Society. This is an especially great idea for new residents of Comox to find their community and make friends. Help conserve older second-growth forest while living in homes in Comox Valley! New members can join by contributing $45 dollars one-time only to earn a lifelong membership. Also, this will present you with the opportunity to become a steward of the MWPS and the Fran Johnson Wildlife Sanctuary. 

The history of MacDonald Wood Park is extensive and rich. The MWPS has fought tirelessly to ensure the park didn’t get developed. In 1993, a company by the name of Noort Developments bought the land that MacDonald Wood Park now rests on. The company would’ve seen 140 new duplexes constructed on the land. The efforts of the MWPS prevented the construction of this development. They raised enough money with combined efforts from the province, the Town of Comox, and the Society to purchase the land back. Today the MWPS continues to look out for the well-being of the Park!

Since they’ve done such a good job preserving the integrity of MacDonald Wood Park, the MWPS members are now owners of another property. In January of 2019, the MWPS announced that their non-profit organization would now be working to manage and take care of the Fran Johnson Wildlife Sanctuary. This property is close to MacDonald Wood Park and the now 600+ members of the society hope to continue to protect the land and forests in Comox Valley! 

By visiting one of these Parks, you are supporting the cause the MWPS has fought so hard to conserve. Take a family trip and enjoy the trail networks and wildlife in the lush cedar forests.

Buy Homes in Comox Valley Today!

Homes in Comox Valley are so close to some of Canada’s most exceptional recreational sites. Houses in the area are just a hop, skip, and jump from some of the most stunning outdoor recreation sites. For more information on purchasing homes in Comox Valley, contact us today. We’d be happy to help you find the perfect property in this area. If you have any additional questions, don’t hesitate to reach out to one of our staff at RLP Comox. We look forward to working with you soon 🙂 Don’t forget to check out our social media here and check back next month for more park content!

parks in comox valley

Parks Near Houses In Comox Valley!

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Comox Valley has tons of parks and outdoor spaces for you to marvel at. The landscape here is unparalleled. From ocean views to luscious forests, the parks here are fairytale-like. Get outside when you purchase houses in Comox Valley! Whether that means hiking up a trail or lounging on the beach with a blanket. There’s an outdoor paradise for everyone in Comox, BC. If you’re new to Comox, we’ve compiled a list of the coolest outdoor parks to visit. Follow along each month as we go through some of our favourite parks in the area!

Houses in Comox Valley Are Close to The Ocean!

Do you want to spend your afternoon strolling along the oceanside? If so, take a visit to Miracle Beach Provincial Park. Located 22 Km North of Courtenay, this park used to be privately owned by a man named Mr. Frank Pottage. The BC government decided to buy 140 acres of land from Mr. Pottage in 1950. This marked the day Miracle Beach Provincial Park was founded. Over the years more people began donating land in the surrounding area. Eventually, the park reached a whopping 333 acres. Which, is its present size. 

The park has tons of awesome amenities! For instance, there are many large secluded campsites, a beautiful trail network, a gorgeous beach, a store, a super fun playground, showers with hot water, and finally, a picnic area with an ocean view.

This epic family park has 200 non-serviced campsites. All of which, are situated under a luscious, green forest. Visitors have access to three washroom buildings on-site. Plus, a shower building. In addition, those who are camping in trailers or RVs can empty their waste tanks and refill water at the sanitation station. There are clean water taps for tenters and day-use folk.

Houses in Comox Valley get you access to all kinds of activites!

There is an amphitheatre at Miracle Beach which usually hosts all sorts of fun summer events. From movie screenings to educational talks. Further, there is a store where you can purchase essential items, food, and drinks. In the fall, people can come to visit Black Creek to see the salmon spawn. Wild Coho are often seen here at this time of year. There is a viewing platform at the entrance of the park. People also find it very interesting to watch the various birds in the area.

One of the greatest parts of the park is the ocean. For example, if you catch it at the right time, the tide will allow you to discover all sorts of marine life. People can find everything from sand dollars, crabs, starfish, jellyfish, clams, mussels, flounders, shells, hermit crabs, and more! There are also lots of tidal pools that allow people to relax and check out the wildlife. 

Additionally, Miracle Beach has 2 km of trails. These are accessed from either the parking lots or campground areas. For animal lovers, there’s even a specific dog trail. These trails are truly something to admire. They snake through some of BC’s most highly regarded old-growth trees. 

Reservations and costs at Miracle Beach Provincial Park.

Those looking to plan a wedding at the beach can do so. The picnic shelter and seating area can be reserved for $50 per day. People have hosted everything from family reunions to weddings here. 

Group Camping sites are up-for-grabs at Miracle Beach. This area can be found a small distance from the main area. There are outhouses and tables available to group campers. Firewood and ice can be purchased at the Host Site. Importantly, It is advised that campers make reservations during peak season. Although, some lucky visitors might be able to secure a spot in July and August. Reservations for this park can be made for arrival dates between mid-May through Labour Day. It is $33 per party for each night and a $12 charge for a second vehicle per night. Furthermore, it is $13 for each party per night during the winter camping season.

Buy Houses in Comox Valley Now!

Houses in Comox Valley are so close to some of the best recreational sites in Canada. They boast proximity to the greatest outdoor playgrounds on the island. For more information on purchasing houses in Comox Valley, contact us today. We’d be happy to help you find the perfect home in this area. If you have any further questions, don’t hesitate to reach out to one of our staff at RLP Comox. We look forward to working with you soon 🙂 Don’t forget to check out our social media here and check back next month for more park content!