⌂  If you bought an average home in Cumberland in 2003 you paid $108,058.  Today’s price is $292,590 (up 5% from 2012.).  The largest local current price differential is between the old City of Courtenay ($273,626) and Crown Isle ($499,971).

⌂  YTD in 2013 73 houses per month have sold.  (For 2012, the number was 68, 2011 - 66, for 2010 - 68, for 2009 - 73, for 2008 - 69, for 2007 - 100.)  70% of all residential sales occurred in the municipalities of Comox - 30%, Courtenay – 33%, and Cumberland - 7%.  Houses make up 59% of the 886 residential properties currently offered for sale (condos – 34%, mobiles - 3%, duplexes – 4 %.)  The active inventory of all properties is 1328, down from 1335 in 2012. 

⌂  The 12 month average sale price of a Comox Valley home is $337,397, down 4 % from 2012. The average lot price is $147,158, down 9%. If you purchased an ‘average’ home in 2003, you paid $169,153.  If you bought an average lot in the same year, you paid $64,200.

⌂  In the 10 months ending October 31^st, 2013 there were 1178 sales of all property types, an increase of 4% over the same period in 2012.  The highest number of annual sales was 2252 in 2007.  The lowest was 879 in 1998.  The twenty year average is 1509.

Comox Valley Graph Stats October 2013

⌂  Construction started in September on the fourth Tim Hortons in the Comox Valley on the corner of Lerwick and Ryan Road. A building permit has been submitted for a new hotel in Campbell River, with an estimated project cost of $6.6 million.  The four-storey hotel will contain 55 rooms, along with an indoor pool, sauna, exercise room, breakfast room, meeting facilities and will be built with ocean-facing rooms.

Real Estate Fast Fact on the Comox Valley

⌂  The Comox Valley cultural scene for the Fall includes two very successful Broadway musicals - the CoVal Choristers’ production of Les Mis (opens Nov. 22 for 9 performances) and Courtenay Little Theatres’ presentation of The Drowsy Chaperone (opens Dec 27 through Jan 4.)

⌂  The passenger count through Comox International Airport (YQQ) for 2012 set an all-time record  at 327,927.  In 2001, the passenger count was 132,000.  YQQ currently offers several direct weekly winter flights to Mexico and daily flights to Vancouver, Calgary and Edmonton.  Harbour Air offers several daily flights from Comox Harbour to Vancouver Harbour.

⌂  As the third quarter of 2013 ended on September 30^th, sales numbers in the Comox Valley continued to increase year over year.  Sales numbers in July were up 12%, in August, 26% and in September a very impressive 56% increase.  On the other hand, average prices declined 9% overall.  However, there were pockets of price increases, notably Courtenay East and Crown Isle up 8% and Cumberland up 17%.

⌂  YTD in 2013, 33 houses have sold for less than $200,000.  In 2012 – 37, in 2011 – 36, in 2010 – 29, in 2009 - 37.  There were ten sales over $1 million in 2008. In 2009 – three, in 2010 – one, in 2011 – two, in 2012 – none and YTD in 2013 – two.  The 12 month median price (half sales above, half sales below) is $325,000.

⌂  If you bought an average home in Cumberland in 2003 you paid $108,058.  Today’s price is $290,415 (up 3% from 2012.).  The largest local current price differential is between the old City of Courtenay ($274,276) and Crown Isle ($487,029).