Comox Valley Real Estate News
Fast Facts | Jan 25th, 2010 |
Fast Facts – 2009
Ø In the 12 months ending December 31st, 2009
there were 1426 sales of all property types, sixteen more than in 2008. The highest number of annual sales was 2252
in 2007.The lowest was 879 in 1998. The
fifteen year average is 1552.
Ø For 2009, the average sale price of a
Ø 73 houses a month are currently
selling. (For 2008 the number was 69, for
2007 -100.) 74% of all residential sales
occurred in the municipalities of Comox - 30%, Courtenay - 38%, and
Ø If you bought an average home in
Ø In 2008, 29 houses sold for less than
$200,000. In 2009 – 37. There were ten sales over $1 million in 2008.
In 2009 – three. Six out of ten sales in
2009 were under $350,000. The median
price (half sales above, half sales below) is $325,000.
Ø
In 2009,
approximately 290,000 passengers experienced award winning service through Comox
International Airport (YQQ). The
passenger growth trend for the latter half of 2009 was significantly upward. YQQ currently offers direct weekly
winter flights to
Ø
From January through early March, Olympic and
Paralympic teams from fourteen countries are on
Ø
In September of 2010, the BC Seniors Games will
be hosted jointly by the
Ø Major commercial projects on Mt. Washington and Crown Isle and residential developments in Union Bay and Comox are expected to move forward substantially in 2010.
Ø There
are 177 REALTORS® in the
MESSAGE FROM VIREB | Mar 4th, 2009 |
FOR IMMEDIATE RELEASE
March 3, 2009
VIREB reports Feb sales statistics
NANAIMO, BC – Real estate unit sales volume increased in February 2009 from the previous month
while average sale prices declined, according to Multiple Listing Service® (MLS®) sales summary data
released by the Vancouver Island Real Estate Board (VIREB) for February 2009.
There were 196 unit sales across the VIREB region in February 2009. While this is a sharp increase from
sales volume in January 2009, it remains below the sales level from February 2008.
“It is encouraging to see that there is more market activity and more sales, with increases in all VIREB
zones” VIREB President Ray Francis says. “However, we’re cautious, because from a historical
perspective we’re still below what is considered a normal February in terms of sales volume.”
The 12-month average sale price across the VIREB region for February 2009 was $307,927, down 11 per
cent from the $346,795 posted in February 2008. Average prices were down in five of VIREB’s six
individual zones.
“In this tighter marketplace, we’re seeing fewer sales in the higher end and more activity in the middle
and lower price ranges. This tends to pull down the average sale prices, which is just an average. It does
not reflect actual declines in real property values,” Francis explains, noting consumers should check with
their local REALTORS® for specific neighbourhood price information.
For the 12-month period from the end of February 2008 to the end of February 2009, average sale prices
in VIREB's six zones saw: Campbell River decrease 15 per cent (to $263,164), the Comox Valley
increased 7 per cent (to $356,450), Nanaimo is down 12 per cent (to $326,301), Parksville/Qualicum was
down 18 per cent (at $347,192), Port Alberni dropped 10 per cent (to $198,594) and the Cowichan Valley
declined 16 per cent (to $316,044).
Despite a 25 percent increase in active properties listed for sale from February 2008 to February 2009, the
rate of increase is falling from previous highs and is below the provincial average.
“Our provincial industry economist has said that with VIREB inventory increases starting to level off, he
would anticipate prices firming up later in the year,” Francis says.
VIREB represents approximately 1,100 licensed REALTOR® members in more than 85 member offices
on Vancouver Island (north of Victoria).
VIREB cautions that average price information can be useful in establishing trends over time, but does
not indicate the actual prices in centers comprised of widely divergent neighborhoods or account for price
differential between geographic areas.
Admin