Inventory has dropped again now that the busy summer months are over. We remain firmly in a seller’s market. Please read the full report for more details.
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Inventory slightly decreased over last month and the real estate market still remains firmly a seller’s market. Please read the full report for more details.
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Since January, the percentage of residential sales over the asking price peaked in May, at 56%, and has been on a downward trend since then; in August, the percentage dropped to 37%, which is similar to the numbers reported at the start of the year. Even though prices continue to rise, the frantic period of multiple offers seems to be over.
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Inventory has continued to climb month over month. We are currently seeing 1.5 months of inventory, up from 1.1 months in the previous period. This doesn't necessarily signify a market reversal but it does suggest it's beginning to slow down ever so slightly and move towards a more balanced market.
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Although the real estate market still remains in seller’s territory, there has been an 18% drop in homes selling above asking price. This doesn't necessarily signify a market reversal but it does suggest it's beginning to slow down ever so slightly.
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Be the first to know how the market is trending. Read our monthly housing market reports to get the most up-to-date statistics so that you can make the most informed buying and selling decisions.
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Be the first to know how the market is trending. Read our monthly housing market reports to get the most up-to-date statistics so that you can make the most informed buying and selling decisions.
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Be the first to know how the market is trending. Read our monthly housing market reports to get the most up-to-date statistics so that you can make the most informed buying and selling decisions.
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Be the first to know how the market is trending. Read our monthly housing market reports to get the most up-to-date statistics so that you can make the most informed buying and selling decisions.
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Be the first to know how the market is trending. Read our monthly housing market reports to get the most up-to-date statistics so that you can make the most informed buying and selling decisions.
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Happy New Year to all our readers! We’re kick off the new year with a Comox Valley real estate market update for January 2021. Please do not hesitate to reach out to one of our highly qualified real estate agents if you are interested in buying or selling your home.
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How the global pandemic has affected real estate sales in our local communities has been somewhat of a surprise with very strong market activity. We have witnessed many multiple offers and an influx of individuals and families relocating to our community. With all this uncertainty, the question on everyone’s mind has been what comes next? We might not have a crystal ball to predict the future but fortunately, we can look to historical data to predict what is next for our local real estate market.
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