October’s real estate statistics are clear - the Comox Valley area is continuing to dominate the local real estate market. Much of our region is seeing significant increases in home price and value as well. 

What does that mean for our current buyers and sellers? We break down what you need to know:

The Comox Valley Buyer

Home prices in October of 2016 rose 17 per cent over the same time in 2015. The benchmark price here stood at $398,500 for the month. While this is not the highest price point in the region, prices are steadily increasing. What does such a substantial increase in values mean to buyers? Home shoppers will find that the Comox Valley region remains competitive for buyers. The lower inventory typically leads to multiple offers on properties, with prospective buyers bidding against each other. This means that if you are considering purchasing a home here, you should act fast! Check out our buyer's guide for more information.

The Comox Valley Seller

What does a 17 percent increase mean to those looking to sell their property? Simply put, you can sell for more! The key factor driving home values upward in Comox Valley is the lack of inventory present here. Demand from buyers pushes prices up, while those with property are still holding out on listing. With few homes on the market for sale and a significant number of buyers, there is no doubt prices are on their way up. This kind of market condition, coupled with established, powerful home marketing systems and the experience of your qualified real estate team, can ensure a speedy and profitable sale. Reference our seller's guide for more information on selling your home in the Comox Valley region.

Our Comox Valley residents know that living here has LOTS to offer – and people elsewhere are catching on to our best-kept secret, too! There is no doubt this is a thriving community with a great deal of amenities to offer today’s buyer, and our sellers will also find it is quite lucrative to sell now.

Have questions on our local market conditions? Contact us anytime. We’re here to help you make the right choice in Real Estate. 

Posted by Bryce Hansen on
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