Like much of B.C.'s real estate market, the Comox Valley is seeing a significant trend in increased home prices. If you are looking to buy a home in the Comox Valley, consider that the longer you wait, the more expensive your purchase will be, and the less equity you will stand to gain. Despite increasing prices, good purchasing opportunities exist and there is the potential that investing now will provide you with the opportunity to see equity build in your home quickly. What should you know about buying a home in today’s seller’s market?

Trends in Comox Valley Real Estate

The Vancouver Island Real Estate Board has some clear indications of what’s happening in this market. In August 2016, the benchmark price of a home in the Comox Valley was $380,200, up 12 per cent from 2015. Increases in price such as this provide a great deal of insight for today’s home buyer. Here’s what you need to know:

  • Buying now may mean that you’ll see home equity build quickly. Most experts expect home values to continue to trend upwards.
  • Inventory isn’t as high as it used to be. That means you’ll need to be able to react quickly and buy quickly if you want to buy a home here.
  • Most experts agree that buying a home in Comox Valley is still a solid financial decision. 

As you take into consideration all of the options available to you in real estate, remember that working with a local real estate agent is nearly critical right now. Low inventory of homes including single family properties, apartments and townhouses, are putting pressures on these markets and on buyers.

Let the Bryce Hansen team go to work for you. We can help find the ideal home for your family, and you’ll be able to lock in your purchase in the heart of Comox Valley. See more Comox Valley market statistics here, and call us today: (250) 702-6493 

Posted by Bryce Hansen on
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