Bryce Hansen, Comox Valley Real Estate
The Real Estate market in the Comox Valley consistently remains strong. Reports from the Vancouver Island Real Estate Board indicate that the 12 month average sale price of a Comox Valley home is $471,699, up 18% from 2016.
10 years ago if you purchased an average home in the Comox Valley, you paid $329,280, and an average lot would have been $128,058. In the 12 months ending August 31, 2017, the average lot price is $229,674, up 27% from last year. It’s a great idea to continue to watch market trends and see how you are doing with your return on investment.
Buyers continue to express frustration with lack of inventory and escalating prices. It is a challenge for anyone coming on a house-hunting trip to find out when they arrive that the homes they wanted to see are now sold.
This can lead to urgent requests for quick showings when agents are working with buyers who only have a limited time to view properties. It can certainly help to have a good realtor who will help keep buyers up to date the moment new listings are posted to the MLS.
First impressions are lasting impressions. If there are barriers to seeing the home because of cluttered rooms, the buyer may not spend the time needed to fully appreciate the value of the home. Tidy rooms, clean counters and groomed yards reflect care in your home. Pricing your home right based on market conditions is paramount for success.
Interest rates are changing, and it’s a good idea to check with your lender and how current rates impact your purchasing power. Make sure you are working with an agent who is up to date on new inventory
The Comox Valley is a buyer’s delight. Lifestyle, affordability, new infrastructure and community culture continue to make this a prime destination for both younger families and those wishing to retire.
Contact Bryce Hansen direct at 250.702.6493 for more information or visit www.comoxvalleyrealestate.com.