Comox Valley Real Estate News

Fast Facts – 2010

⌂  In the 12 months ending April 30th, 2010 there were 1659 sales of all property types, an increase of 53% over the same 12 month period in 2009.  The highest number of annual sales was 2252 in 2007.  The lowest was 879 in 1998.  The nineteen year average is 1556.

⌂  The 12 month average sale price of a Comox Valley home is $339,764, down 5%.  The average lot price is $138,050 down 7%. If you purchased an ‘average’ home in 2003, you paid $169,153.  If you bought an average lot, you paid $64,200.  

⌂  68 houses a month are currently selling.  (For 2009 the number was 73, for 2007 -100.)  74% of all residential sales occurred in the municipalities of Comox - 27%, Courtenay - 38%, and Cumberland, 9%.  Houses are 59% of the 1111 residential properties currently offered for sale (strata - 33%).  The active inventory of all properties is 1450, up 52% since December 31^st, 2009. 

⌂  If you bought an average home in Cumberland in 2003 you paid $108,058.  Today’s price is $282,686 (+162%).  The greatest price differential is between the old City of Courtenay ($262,918) and Crown Isle ($522,244).

⌂  In 2009, 37 houses sold for less than $200,000.  So far in 2010 - 8.  There were ten sales over $1 million in 2008. In 2009 – three. So far in 2010 – zero.  The 12 month median price (half sales above, half sales below) is $330,000.

⌂  Only one area of the Comox Valley (Union Bay/Fanny Bay) experienced an increase in the average price of a single family dwelling.  All other areas dropped in price in the 12 months ending April 30^th, 2010.  The largest declines occurred in Courtenay South (-18%), Crown Isle     (-15%) and the Comox Peninsula (-13%) all higher priced areas with small market shares.

⌂  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 Mexico and daily flights to Vancouver, Calgary and Edmonton. West Coast Air offers twice daily flights from Comox Harbour to downtown Vancouver

⌂  In September of 2010, the BC Seniors Games will be hosted jointly by the Comox Valley and Campbell River.

⌂  Costco is coming to Crown Isle on a site adjacent to Home Depot.

⌂  There are 182 REALTORS® in the Comox Valley. The peak was 240 in 1993.