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comox valley homes for sale

When is the Right Time to Buy a Home in Comox Valley?

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2022 was a rocky year for homeowners and real estate professionals alike. And, if you’re wondering how 2023 is going to pan out, you’ve come to the right place. The real estate market on Vancouver Island is generally known to be quite stable. However, in the last two years, it has seen some ups and downs—much like other typically stable markets in Canada. Since the beginning of 2022, citizens of Canada have been hopeful that with time, the prices of real estate would come down. And, in many places, housing prices have come down—with a catch of course. In this article, we will be taking a closer look at housing trends in Comox Valley, and more generally, Vancouver Island.

Follow along below to learn more about whether or not you should buy a home in Comox Valley!

What to Expect When Buying a Home in Comox Valley in 2023?

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If your goals for 2023 involve buying a home in Comox Valley, there are a few things you need to know. Firstly, home prices have undoubtedly gone down in 2023 and are rumoured to continue to drop off. This is not to say that prices have dropped dramatically. Instead, they have simply cooled from their peak.  For homebuyers, this is good news. It means that the market is stabilizing. Another thing that buyers and sellers need to be wary of, is the cooling-off period that was announced last July. On January 3, 2023, this new rule was formally implemented in British Columbia.

According to CTV News, this new legislation is intended to provide “buyers some protection in the face of rising interest rates and what [the government] calls high-pressure sales tactics.” It is important to note that the cooling-off period does not apply when homes are auctioned or when the home is on leased land. The cooling-off period allows buyers three business days to think about their purchase. Furthermore, it allows buyers to back out of the deal for a number of reasons including: 

  1. They no longer want to purchase the home
  2. The pruchaser cannot secure financing
  3. They cannot arrange a home inspection

However, despite this new recession period, backing out of the deal is not free. If a buyer back out of a deal, they will have to pay 0.25 percent of the offer. On a one million dollar offer, that equates to a $2,500 fine. The reason for a fine is to prevent buyers from having an unfair advantage. 

Interest Rates, How to Navigate the Market, and More.

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The other thing that buyers need to be wary of, is interest rates. If you’ve paid attention to the news at all in the last few months, you’d know that the Bank of Canada has been increasing the key interest rate bit by bit. This has resulted in the average cost of a mortgage skyrocketing. For those with variable-rate mortgages, the pressure has been immense. And, in the case of first-time home buyers, many have been forced to hold off on their dreams of homeownership. Most analysts have predicted that 2023 will be a rough year in terms of mortgages. However, with that, they also predict that rates will come down again by early 2024. 

So how do you buy a home given the conditions? And, is it risky to sell your current home? The answer is not one-size fits all. Depending on you and your specific situation, the current conditions might not impact you in a way that prevents you from buying or selling. However, for others buying a home could be pushing the bounds a little too far. If you are unsure, we encourage you to consult with one of our Comox REALTORS® to find an option that best fits your unique position. Buying a home in Comox Valley is a big milestone, and it is important to take the time to assess the situation before rushing into anything! 

Contact us About Buying or Selling a Home in Comox Valley. 

If you are curious about buying or selling a home in Comox Valley, we encourage you to contact us today! If you have any questions about the market conditions in Comox, be sure to reach out to us! We are excited to get your spring real estate goals on track. A home in Comox Valley is a great lifetime investment. Don’t hesitate to contact us with any concerns or inquiries about real estate in Comox Valley. Be sure to check out our social media here, and return next month for more real estate-related content! We look forward to working with you in the near future.

real estate content rewind 2022 in comox valley

2022 Recap of Real Estate Advice in Comox!

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It’s that time of year again when we write our year-end blog recap. December is quickly passing by and 2023 is right around the corner! Over the course of 2022, we wrote several articles about real estate in the Comox area. From January to November we have posted eleven different articles to help our buyers and sellers find the information they need. Achieving your real estate goals can be tricky. However, we hope that some of our content helped to steer you in the right direction. In this article, we will be going over a brief recap of all of the articles we wrote during 2022. Follow along below to learn more!

Winter and Spring Blog Recap of Real estate advice in Comox:

Jan – Transit & Comox Valley Houses For Sale

Getting to and from your everyday destinations is an important part of your daily life. While many people opt for a car, living in Comox Valley houses for sale provides a host of other transit options. The city is equipped with buses, bike paths, boat access, float planes, ferries, and more. This article is filled with information about transit in Comox Valley

Feb – January Update on Comox Properties For Sale

Understanding the current market statistics is an important part of buying a home. This article goes over the real estate stats from January of 2022. Check it out for a trip back in time to see how real estate prices were doing at the beginning of the year. 

Mar – Average Price of Properties in Comox Valley

In March, we wrote all about the soaring real estate prices and the jump in interest rates. Our March article talked about buyer motivations, and the cost of housing in Comox, and provided an update on the national real estate market. 

Apr – Summer Activities Near Homes for Sale in Comox!

Are you planning on moving to homes for sale in Comox this summer? If yes, then we recommend reading this article. Discover a list of fun summer activities to familiarize you with the town. By participating in some Comox summer fun, you can get to the locals! Make friends and find new favourite hangout spots by exploring Comox Valley.

Summer Blog Recap:

May – Comox Real Estate: Economic Drivers in Comox Valley!

If you are looking to move to Comox real estate, it is important to consider the economic drivers within the city. Comox has various economic drivers that can help you create and foster a business. Or, find a job within your interests. The city of Comox and surrounding areas have diverse economies that thrive in industries like tourism, agriculture and construction.

June – About Cumberland BC Real Estate.

Living in Cumberland BC real estate is a quiet place to settle down. Sea-to-sky views and lush green trees are the perfect backdrop to any home. Cumberland has a fascinating history as a former coal-mining town. If you’re looking for a great place to call home, Cumberland BC real estate is the place to move.

July – Making Your Property in Comox Valley Energy Efficient!

Energy efficiency in your home can help you save thousands of dollars. For most individuals, the costs associated with living in their house account for a large portion of their income. Going green shouldn’t require months and months of saving. In fact, it’s possible to save the planet on a budget! Most of the changes we wrote about will even help you save money over time. 

Aug – New Measures in Place for Buying a Comox Valley Property.

After a rocky start to the housing market in Canada, many government officials worked to reduce high-pressure sales. There were several efforts made in British Columbia over the early months of 2022 to combat the scorching real estate market. Check them out in this article. 

Fall Blog Recap of Real estate advice in Comox:

Sept – Home Improvements to Add Value To Comox Valley Properties.

Home renovations are a great way to add value to Comox Valley properties. Or, make the space more inviting. However, not all home renovations are worth your time and money. It is important that you choose the right home renovation projects so that you can get a sufficient return on your investment. 

Oct – Home Security for Properties for Sale in Comox!

While Comox Valley’s crime rate is virtually zero, having a thorough security system is never a bad idea. Those buying properties for sale in Comox should consider investing in some basic home safety equipment. Contrary to popular belief, it doesn’t cost an arm and a leg to keep your home safe. Read more about this in our October blog post!

Nov – Selling a Stigmatized Property For Sale in Comox 

Selling a stigmatized property for sale in Comox can be a tricky feat. It is important that you consider any stigmas associated with your home and how they can affect the listing price of your property. In this article, we went over all things to do with buying and selling stigmatized properties. 

At Royal Le Page Comox we want to thank our clients for another great year in real estate! 2022 came with lots of surprises and we were happy to have all of you stick with us. Check back next year 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. Happy holidays to everyone!

comox homes with curb appeal

Home Improvements to Add Value To Comox Valley Properties

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Home renovations are a great way to add value to Comox Valley properties. Or, make the space more inviting. However, not all home renovations are worth your time and money. It is important that you choose the right home renovation projects so that you can get a sufficient return on your investment. Because of such high-interest rates, it is expensive to afford home renovations. Materials and lending rates are through the roof. Thus, forcing homeowners to pick and choose their renovation projects. In this article, we will be going over the top renovations that you should make to your home before the year is over. Follow along below to learn more!

Add Space to Comox Valley Properties.

Since the onslaught of the pandemic, buyers are looking for space now more than ever. This means homeowners need to make their properties feel as spacious as possible. Adding outdoor spaces, workspaces, and recreation spaces to your home is a sure way to add value. Any kind of remodel that increases your square footage or gives the illusion of more space, will be a worthwhile investment. 

One of the ways you can achieve this is by creating a home office. If your property doesn’t have a workspace, it is a good idea to add one. Whether you build a detached building on your property or convert a room is up to you. However, there are a lot of folks looking for a home with adequate office space. An in-home office is a great addition that is certain to add value to your property. According to HomeLight, a home office can add over $10,000 in resale value. In fact, if you decide to add a detached office space it can provide about $66,000 in value to your home. 

Another way to add value by making space in your home is to finish your basement. If you have an unfinished basement, you’re practically throwing away valuable space. Take charge and make it your winter project. A finished basement can add $50,000 in value to the asking price of your home. You can leave this space blank or turn it into a gym, office, or lounge area.  

Next, is opening up the floorplan. If your home is dated and feels cramped because of the walls, consider knocking some of them down. Free-flowing space in the kitchen and living areas is essential to buyers. Open layouts are the key to good workflow.

What About the Outside?

Curb appeal and outdoor spaces are another big draw for buyers. A lackluster exterior will make buyers question how you’ve taken care of the interior. Don’t make this mistake! An attractive landscape will entice buyers from the moment they see the property. And, it will give them the idea that your home is well-taken care of. Performing simple tasks such as weeding, cutting the grass, and replanting dead plants, can make all of the difference. 

If you want to take your home’s outdoor areas to the next level, consider hiring a professional. Investing in a rock wall or raised garden beds can help enhance the look and feel of your home. Moreover, adding or re-building a patio in your backyard will provide buyers with more usable outdoor space. This is great for those who want to entertain guests or enjoy the Comox Valley weather. 

Another way that you can add curb appeal to Comox Valley properties, is to get new doors and windows. A bright and bold front door can make a big difference in the overall look of your home. And, it can help improve the home’s energy efficiency. The same thing holds true for windows. Brand new windows on your home not only look great but also help to insulate the home. 

While we are on the topic of doors and windows, consider replacing your garage door. These large features have a big impact on the look of your property. If your neighbours have newly renovated garage doors, consider jumping on the bandwagon. HomeLight has found that a new garage door will give you a 133% ROI. Upgrading your garage door is a simple way to make Comox Valley properties stand out!

Contact Us About Comox Valley Properties!

Improving the look of your Comox Valley properties will help you add value to the asking price o your home! By choosing your renovations wisely, you can stand to make a great ROI! If you have any questions about renovating a property in Comox Valley, be sure to reach out to us! We are excited to get your fall real estate goals on track. A property in Comox Valley is a great life-long investment. Don’t hesitate to contact us with any concerns or inquiries about real estate in Comox Valley. Be sure to check back next month for more real estate related content! We look forward to working with you in the near future.

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Making Your Property in Comox Valley Energy Efficient!

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Energy efficiency in your home can help you save thousands of dollars. For most individuals, the costs associated with living in their house account for a large portion of their income. Houses need plenty of maintenance and care in order to remain functional. Making sure that everything is operating accordingly can be a big job. Moreover, if you want to ensure that your home is environmentally friendly, you’ll have to go one step further. Despite the cost of some eco-friendly properties in Comox Valley, there are some inexpensive ways that you can improve the impact your home has on the environment. Going green shouldn’t require months and months of saving. In fact, it’s possible to save the planet on a budget! Most of these changes will even help you save money over time. This is because you will be conserving energy and cutting back on waste! Follow along below to learn about the most inexpensive ways to make your property in Comox Valley eco-friendly.

Have an Energy Audit Done on Your Home. 

Having someone perform an energy audit on your home can help you identify issues that will later save you tons of money. While the initial cost may seem high, having this procedure done is certainly worth the extra cash. An energy audit is a great way to determine what areas of your home need to be more energy-efficient. The procedure is done by an expert, who will test your home for many things. For example, how airtight your home is and use a thermographic scan to find out where you are losing heat. Once you have the results, you can come up with a solution to fix the problem areas. On average, a home energy audit costs between $300 and $500 depending on the size of your home. This may seem like a large amount to pay, but the long-term savings are well worth it. However, if this is still too pricey, there are some DIY solutions that you can try. 

Make Sure That Your Property in Comox Valley is Insulated. 

Insulation is the leading cause of energy efficiency problems in a household. And, most insulation-related issues can be remedied without the help of a professional. While it may not be the most thrilling way to spend your day, fixing your insulation can have many benefits. For instance, higher resale value and lower monthly heating and cooling costs! Commonly, homeowners will neglect to insulate their attic. This is a costly error. Insulating your attic can improve monthly spending on energy bills from 10-50%. 

Furthermore, those looking to improve insulation can add glaze around old windows. People who are living in older houses should think about fixing any cracked glazing around window panes. Taking the time to fix this can drastically reduce the amount of money you spend on your heating and cooling bills. 

Additionally, you can benefit from using spray foam around exterior windows and doors in your home. Houses with wood siding can develop gaps around the trim of windows and doors which have a negative impact on your home’s insulation. These gaps can be easily filled with spray foam or caulk. The same thing applies to the interior window and door trim. However, these gaps will usually be small enough to fill with caulk. When filling gaps in the interior of your home, be sure to buy caulk that can be painted over!

Save Water With Faucet Aerators!

Faucet aerators are a great tool to help with water consumption. Most modern faucets already have faucet aerators. However, if you see that your faucets don’t have these little gadgets, you may want to consider purchasing some. Aerators make a big difference in the way that your tap operates. For example, they maintain and improve water pressure, minimize the amount of water consumed, shape the stream of the water, prevent splashing, and catch debris. In addition, by adding aerators to your taps you can reduce the amount of water you use by up to 50%. Faucet aerators can be found at any hardware store or online for roughly $4-$8 each. This inexpensive addition will significantly lower your ecological footprint.

Contact Us About a Property in Comox Valley!

Improving the energy efficiency of your property in Comox will help you save money each month! Taking a more eco-friendly route is the perfect way to reduce annual spending and help the environment. If you have any questions about a property in Comox Valley, be sure to reach out to us! We are excited to get your summer real estate goals on track. A property in Comox Valley is an excellent seasonal investment. Don’t hesitate to contact us with any concerns or inquiries about real estate in Comox Valley. Be sure to check back next month for more real estate-related content! We look forward to working with you in the near future.

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Comox Real Estate: Economic Drivers in Comox Valley!

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If you are looking to move to Comox real estate, it is important to consider the economic drivers within the city. Comox has various economic drivers that can help you create and foster a business. Or, find a job within your interests. The city of Comox and surrounding areas have diverse economies that thrive in industries like tourism, agriculture, and construction. Join the workforce in this gorgeous city today with Comox real estate! Follow along below to learn more about the top three economic drivers in Comox Valley. 

Tourism Near Comox Real Estate.

It should come as no surprise that tourism is one of the leading industries in the city. Comox Valley and surrounding areas on Vancouver Island draw in many visitors from around the world. Over the years, Comox has been making a name for itself as a culinary and adventure destination. This epic city provides visitors with a unique opportunity to experience some of the world’s most spectacular views. For instance, it isn’t every day that you can ski down the mountainside whilst gazing over the pacific ocean. Or, cross-country skiing through one of the world’s oldest forests. Comox also has some of the most scenic golf courses in the country! Tee off overlooking the diverse Vancouver Island landscape. Visitors can mountain bike and hike through the extensive trail systems and paddle along the scenic shores.

No matter what season you visit Comox Valley, the tourism industry will always be booming! This is why tourism is one of the most prominent industries in Comox Valley. In the winter, Mount Washington is always looking for new staff to help with the season. As are various spas, restaurants, and markets. Comox also offers a range of outdoor tours and adventures. These activities can include, fishing tours, marine and wildlife tours, ziplining, hiking, mountain biking, golfing and so much more! 

Whether you are looking for a seasonal job or starting a business, tourism is a great industry to get into. There is a large influx of people that visit Comox each year to experience the unique landscape and thrilling adventures. 

Agriculture in Comox Valley.

Agriculture is another one of Comox Valley’s most popular industries. The humid climate and mild temperatures make for fertile farmland. Agriculture, fishing, and hunting are popular career segues in this area of Canada. Comox Valley boasts an incredible food culture because of its locally sourced goods. Fruits, vegetables, cheeses, yogurts, meats, and seafood are all locally produced, grown, caught, and harvested. Over 400 farms contribute to the agricultural production in Comox Valley. 

Starting a farm or providing your agricultural expertise to a farm in Comox are both viable career options in this area. Produce from your business can be sold at the renowned Comox Valley Farmers’ Market. This market is one of the only year-round markets in the country. People come from all over the coast to visit the vendors at the Comox Valley Farmers’ Market. Here you can find fruits, veggies, local meats and seafood, cheese, fresh pasta, wines, ciders, beers, and crafts! And, the farmers’ market also has an online marketplace for non-locals to access all products and produce. 

Join the Construction Industry With Comox Real Estate!

Construction is a major economic driver in not just Comox Valley but various other cities on Vancouver Island. One in ten workers on Vancouver Island is employed within the construction industry. A large majority of these employees work in manufacturing and the construction of houses. Forestry and logging have been popular job sectors in the past, however, they have faced some challenges in recent times. The demand for new houses has kept many construction companies/workers busy. The industry remains one of the most popular and stable in Comox. Joining the construction industry can provide a wealth of opportunities for you and your business.

Contact Us About Comox Real Estate Today!

Comox has a healthy economy with many opportunities in the tourism, agriculture and construction industries! If you want to learn more about the various economic drivers in Comox Valley, stay tuned to our blog. Comox real estate is the perfect place to start your career. 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 in this area. Contact us now and let our team of experts help you achieve your real estate goals. We look forward to working with you in the near future!

Homes for Sale in Comox

Summer Activities Near Homes for Sale in Comox!

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Are you planning on moving to homes for sale in Comox this summer? If yes, then we have a list of fun summer activities to familiarize you with the town. By participating in some Comox summer fun, you can get to the locals! Make friends and find new favourite hangout spots by exploring Comox Valley. You’ll see why so many people have chosen to move to homes for sale in Comox. Follow along below to discover all of the awesome activities available to you in Comox Valley!

Outdoor Activities Near Homes for Sale in Comox.

Comox Valley is situated in one of the most attractive locations in all of British Columbia. This makes for scenic outdoor adventures and endless summer fun. From ocean views to lush hikes, Comox has it all. Residents of Comox Valley are familiar with the vast number of hiking trails and parks. Each one is popular for its stunning views and well-kept grounds. Some of the hiking trails and parks include Strathcona Provincial Park, Seal Bay Nature Park, Nymph Falls Nature Park, Wildwood Interpretive Forest, Royston Seaside Trail, Comox Marina Park, Miracle Beach and MacDonald Wood Park.

These parks and trails are the perfect places to get outside and do some exercise. For instance,  Strathcona Provincial Park allows visitors to camp, hike, and explore the backcountry. This park offers several kilometres of family-friendly and advanced trails. If hiking and camping aren’t up your alley, grab lunch and have a picnic at one of the aforementioned parks. Oceanside picnicking is sure to provide you with a view you won’t forget. 

Comox also has an extensive number of beaches and outdoor water activities for you and your family to try. Stand-up paddleboarding and kayaking are two popular pastimes in Comox. Try them out at one of the local favourite beaches like Goose Spit Beach, Kye Bay Beach, Miracle Beach Provincial Park, Comox Lake, or Saratoga Beach! Summer in Comox is surely best spent at the beach. Enjoy hours of beachcombing, swimming, kayaking, paddleboarding, and lounging in the sunshine. 

Activities, Markets and Food!

Homes for sale in Comox are close to some of the most incredible daytime activities and food markets. For those who would rather stay in the city, Comox has plenty of recreational opportunities. Residents who want to get a better sense of the town may find it beneficial to go on a tour of their choice. Tours are a great way to get to know the area and meet new people. Comox Valley offers tours of breweries, wineries, distilleries, and culinary hot spots. As well as, local art studios, galleries, and fishing tours. For the more adventurous citizens, there is also the Mount Washington ZipTour, which features ocean and alpine views!

Besides tours, Comox Valley also has nine different golf courses for residents to enjoy. These courses are perfect for all levels of experience. A day of golfing is a fun experience for friends and family. Check out the various golf courses in Comox Valley here. 

Furthermore, there are also tons of markets and craft fairs to peak your inner foodie. Local produce, handmade items, drinks, and baked goods can be found at the year-round Comox Valley Farmers’ Market. Comox offers a number of markets throughout the season in areas like Cumberland and Courtenay. These include the year-round Saturday market pop-up summer markets, fall markets and winter markets. If you are interested in what vendors will be at the market, check out the vendor location map. The map will be active by 5 pm the evening before the market. This way you can see if your favourite vendors will be attending. Moreover, the Comox Valley Farmers’ Market also offers an online store for citizens to support vendors. 

Buy Houses For Sale in Comox!

Houses for sale in Comox are close to so many summer activities! If you want to learn more about the various activities and seasonal opportunities, stay tuned to our blog. Houses for sale in Comox are the perfect place to spend your summer. 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 in this area. Contact us now and let our team of real estate experts help you achieve your real estate goals. We look forward to working with you in the near future!

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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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Transit & Comox Valley Houses For Sale

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Getting to and from your everyday destinations is an important part of your daily life. While many people opt for a car, living in Comox Valley houses for sale provides a host of other transit options. The city is equipped with buses, bike paths, boat access, float planes, ferries, and more. All to ensure that you arrive at your destination no matter where that may be. You can get from Vancouver Island to the mainland in a number of ways. Continue reading below to learn more about all the places you can go when you live in Comox Valley houses for sale.

Busing is Available to Comox Valley Houses for Sale!

Comox Valley is supposed by the BC Transit system. As such, the city has a variety of bus routes to get you from A to B in a timely manner. There are 15 bus routes that travel throughout the city of Comox and extend to Cumberland, Fanny Bay, Oyster River, and all neighbouring towns in between these areas. You can also get to Campbell River via the BC Transit buses, however, separate fees do apply. Bus routes 14, 13, 12, and 10 travel mainly outside of the downtown area. The 11 route connects you to the airport and ferry terminal to allow easy access to other transportation methods. You can view the BC Transit schedule and route map for Comox Valley by clicking here. People who are looking to plan their routes or see what the commute times are like can click here.

Residents of Comox Valley can purchase bus passes and bus tickets at many local locations. For instance, pharmacies and drug stores, municipal buildings, and sports and recreation centres. For a full list of the locations and addresses where you can purchase bus tickets and passes click here. The prices to ride the bus varies depending on age, status, and what type of pass you’d like. Bus fare costs $2.00 per person unless you are 12 and under in which case it is free to ride the bus. For seniors and students, a monthly pass is $35.00 and for adults, a monthly pass is $55.00. These are the two most common ways people pay for bus transit. However, there are several other options to finance your public transportation. To view these options, click here.

There is an option for handyDart use which is similar to the community bus. Learn more about the handyDart here.

Cycling is Easy in Comox Valley!

The city of Courtenay in Comox Valley has made an effort to make cycling a safer and more accessible option for transportation. Since 2019, they have been working on long-term plans for more cycling infrastructure to be integrated into the city. This is something they hope to continue to design and implement for the foreseeable future. The public was a major catalyst in starting this endeavour for more cycling infrastructure. $227,665 has been funded through the BikeBC program for the latest two cycling projects. 

These projects include painted cycle lanes, paved and unpaved shoulders, protected bike lanes, and off-street bike paths. This way people can connect their cycling experience with BC Transit to get more places in a safe and timely manner. Not only is this good for those looking to commute around the city, but also for the environment!

The plan includes proposals for river crossings, highway crossings, and parallel routes, and more bike parking options. Moreover, they hope to introduce multi-use pathways to provide space for cyclists and pedestrians alike. Read more about Courtenay’s plan for cycling here.

BC Ferries and Airport Access.

Residents of Comox Valley are not just limited to biking and bussing. There is a ferry terminal in Comox and an airport to help residents get around Vancouver Island and to the Mainland. The Comox (Little River) terminal takes passengers from Comox on Vancouver Island to Powell River on the Mainland. This terminal is a 10-minute drive from the town of Comox. In order to get on your scheduled ferry, you must arrive 30-60 minutes before your departure time. The time you arrive changes depending on whether you are traveling by foot or by car.

Additionally, the Comox airport provides flights to neighbouring cities in Vancouver Island, like Victoria. Furthermore, you can also fly to cities like Vancouver and Edmonton from the Comox Valley Airport, YQQ.

Purchase Comox Valley Houses For Sale Today!

Buy Comox Valley houses for sale today and discover a relaxing life on Vancouver Island. There is so much to be seen and explored in Comox Valley. You can access all of your destinations through public transit and other green methods of transportation. Learn more about the transit options in Comox Valley by contacting us today. We’d be happy to shed some light on your most pressing transportation questions. If you have any inquiries about a home for sale in this area, don’t hesitate to reach out to us!

Our Comox Valley REALTORS® 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

comox valley real estate for sale

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!

Royal lepage in Comox valley

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!