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2024 Get Ready... Get Set... Go!!


2024 Get Ready... Get Set... Go

As we step into the dawn of 2024, optimism fills the air. The rumblings of lower interest rates and other positive signs are setting the stage for an exciting year ahead.

Buyers who've been waiting in the wings are about to spring into action. With more choices and lower monthly payments on the horizon, the market is buzzing with anticipation. We're expecting prices to rise in many segments later this year, prompting savvy buyers to make plans for refinancing in the near future.

For sellers, it's time to embrace proactive strategies. Confidence is returning with stabilized interest rates, and there don't forget more policy changes, including rules for short-term rentals and speculation tax expansion. The British Columbia Real Estate Association forecasts a rebound, adding to the optimistic outlook.

Despite a slight decline in average house prices over recent months, the overall trend has been upward. Multiple offers are still happening in certain segments, and January, though traditionally slower, showed positive indicators for pending sales and price stability.

Buyers are advised to keep an eye on rate decreases and housing prices as we anticipate a busier market ahead. Meanwhile, sellers may benefit from increased activity but are urged to price strategically.

Favorable conditions await buyers, especially with anticipated adjustments later in the year. Fixed-rate mortgages offer stability amidst potential rate changes, and sellers can strategically price listings, particularly single-family detached homes.

The rebound in housing prices is expected to benefit sellers, with a gradual price increase anticipated in the third or fourth quarter, bolstering buyer confidence. However, recent government measures impacting the short-term rental market call for adaptability among investors, who are exploring mid-term rentals as a viable option.

For buyers, timing is key. It's essential to weigh the potential decrease in interest rates against the potential increase in average housing prices.

Finally, for listings lingering on the market for 90+ days, it's time to make a move. Fresh inventory is hitting the market, so instead of chasing it downwards with incremental price reductions, consider a proactive adjustment to stay competitive.

In essence, 2024 is shaping up to be an exciting year in real estate. With optimism, proactive strategies, and a keen eye on market trends, we're ready to embrace the opportunities that lie ahead. Let's make this year a success together!

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Comox Valley Real estate Forecast 2024


Happy New Year!  As we usher in 2024, let's take a practical look at what lies ahead in our local real estate landscape. Join me for a straightforward exploration of trends and forecasts shaping the Comox Valley market.

2023 Recap: Understanding Market Dynamics

The past year brought shifts influenced by rising interest rates and decreased buyer confidence. Single-family home inventory decreased by 16%, sales by 6%, and the average house price landed at $849K. Reflecting on recent years:

  • 2023: $848,672
  • 2022: $889,663
  • 2021: $797,678
  • 2020: $631,705
  • 2019: $579,567

Digging into the details, 21% of single-family home sales exceeded $1M, and the $700-$800K range accounted for 25% of total sales. Notably, Comox played a significant role in 27% of sales, with Courtenay City and East Courtenay combining for 38%.

The Vancouver Island Real Estate Board (VIREB) summarizes local real estate conditions each month, providing valuable market information for single family homes, condos, townhouses, waterfront properties, acreages, and lots. Each market segment is unique to its supply and demand, pricing, and sales. I am happy to decipher and explain what these stats mean to you as a Buyer or Seller. 

Looking Ahead to 2024:

Optimism abounds for a more stable and balanced market in 2024. Analysts anticipate interest rates to stabilize in the first half of the year, potentially decreasing in the latter half. This expected reduction could breathe new life into the market, leading to a moderate price increase. The Canadian Mortgage and Housing Corporation (CMHC) projects a 5% nationwide price increase, emphasizing the ongoing housing shortage.

For the Comox Valley in 2024, my predictions include:

  • A gradual price increase in the third or fourth quarter with increased buyer confidence
  • Overall, a robust and healthy market as buyer confidence returns.
  • Busy market in the $500-$900K price threshold. 
  • Multiple offers on properties with coveted locations and high demand.

The Comox Valley is poised to attract more residents as demand across Canada rises. Your dream home might just be the protagonist in the next chapter of our real estate narrative!

BC's Real Estate Policies

Recent government measures and reforms have impacted the short-term rental market, with new legislation defining short-term rentals and introducing stricter regulations and fines. Investors are adapting to changing rules, exploring mid-term rentals, and facing challenges due to the speculation and vacancy tax expansion.

A Pragmatic Approach to 2024

For those with questions or a desire to discuss specific real estate goals, I'm here to help. 

Cheers, 

Philippa Berg

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I have sold a property at 302 695 Aspen Rd in Comox

I have sold a property at 302 695 Aspen Rd in Comox on Dec 14, 2023. See details here

Aurora combines contemporary living w/convenience in a pet friendly, eco-conscious development in Comox. This 2 year young 2bdrm/2bath 3rd floor condo boasts a sleek open floor plan drenched in natural light. The kitchen is a standout feature, w/ quartz counters, soft close drawers, island & stainless appliance pckg. The open floor plan seamlessly connects the living room to the kitchen & dining space w/ french door leading to private balcony, bringing the outdoors in & cozy spot for morning coffee or evening bbq. Spacious primary w/double size shower & don't worry there's a bathtub in the main for those that appreciate a bubble bath. Gotta love corner units for the added privacy & extra window in the 2nd bdrm. Additional perks; in-suite laundry/storage, large balcony w/views, 1 secured underground parking spot, low hydro bills, community gym & games room downstairs, secure fob access & elevator. Stones throw to Quality Foods, Aspen Grove Center, trails & bus route.

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I have sold a property at 111 1919 St. Andrews Pl in Courtenay

I have sold a property at 111 1919 St. Andrews Pl in Courtenay on Nov 14, 2023. See details here

Lovely 2bdrm + den/2bth 1317 Sq/ft patio home in Heather Glen gated community. This unit has one of the more popular layouts in the complex. The main living spaces feature vaulted ceilings with an open plan layout allowing for the natural light to flow through the unit. The kitchen is has skylights to let the light in and over looks the dining living room area with gas fireplace. The large primary bedroom has patio access a 5pc ensuite with separate shower and a walk-in closet. The den/office towards the front of the home features glass paneled French doors. The second bedroom is perfect for overnight guests. The spacious laundry also has loads of storage space. A large south facing patio is private and perfect for those warm summer evenings and has gas for your BBQ. The single car garage has room for storage and features a large double driveway for guest parking. Close to all amenities in the the Crown Isle shopping centre, hospital and aquatic centre. Patio home living at its best.

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New property listed in CV Comox (Town of), Comox Valley
I have listed a new property at 302 695 Aspen Rd in Comox.
Aurora combines contemporary living w/convenience in a pet friendly, eco-conscious development in Comox. This 2 year young 2bdrm/2bath 3rd floor condo boasts a sleek open floor plan drenched in natural light. The kitchen is a standout feature, w/ quartz counters, soft close drawers, island & stainless appliance pckg. The open floor plan seamlessly connects the living room to the kitchen & dining space w/ french door leading to private balcony, bringing the outdoors in & cozy spot for morning coffee or evening bbq. Spacious primary w/double size shower & don't worry there's a bathtub in the main for those that appreciate a bubble bath. Gotta love corner units for the added privacy & extra window in the 2nd bdrm. Additional perks; in-suite laundry/storage, large balcony w/views, 1 secured underground parking spot, low hydro bills, community gym & games room downstairs, secure fob access & elevator. Stones throw to Quality Foods, Aspen Grove Center, trails & bus route.
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I have sold a property at 2188 Cardinal Pl in Comox

I have sold a property at 2188 Cardinal Pl in Comox on Oct 30, 2023. See details here

Charming Comox Rancher on Quiet Cul-de-Sac offers the perfect retreat for those seeking comfort & convenience. Just a few short blocks from Aspen Park, shopping & amenities this well maintained home boasts a fantastic floorplan making every inch of space usable. Bright front living room w/gas fp & adjoining dining area. The kitchen is a culinary adventure waiting to happen, equipped w/newer appliances, pantry cupboard & eating nook overlooking private backyard complete w/huge covered patio area for all seasons & sunny garden section for your green thumb. Primary bdrm w/ 4piece ensuite w/soaker tub, walk-in closet & sliding doors directly to your private backyard oasis. 2 additional bdrms & 4 piece bath complete this comfortable home. Furry friend approved w/mudroom/laundry area. Park your ride & store your goodies in full sized double garage. Whether you're a retiree, pro couple or family looking to get into the market this place checks the boxes.

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New property listed in CV Comox (Town of), Comox Valley
I have listed a new property at 233 Torrence Rd in Comox.
This charming Comox rancher is a cozy haven w/plenty of character. Just a leisurely stroll to Goose Spit, Mac Wood Park, downtown & schools, making it an ideal choice for both young families & retirees. The open concept design ensures every inch is used wisely, & the welcoming wood stove adds a warm touch. Step into the heated sunroom, & you'll be treated to a view of the private backyard, complete w/ mature landscaping. Plus there is a detached shop perfect for crafting your own haven, be it a studio, music room, or your personalized retreat designed to match your style. For those that like to tinker, a spacious dble garage w/ additional storage awaits. Whether you're ready to downsize, step into the market, or simply not ready for strata living, this cozy rancher is your canvas to make your mark on a property. When it comes to real estate, remember the golden rule; it's all about location, location, location, & Comox exemplifies just that.
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I have sold a property at 819 Sand Pines Dr in Comox

I have sold a property at 819 Sand Pines Dr in Comox on Oct 16, 2023. See details here

West Coast Acreage in the desirable Pt Holmes area, close to beaches and endless trails! A private & peaceful location, nestled in the woods with a bright sunny yard for the kids to run and play. Beautifully renovated split-level home 2,226 sf, 4 BD/ 3 BA, with 24’x32’ shop/garage (roof 2021), insulated w/ 50-amp service, and barn/stable. Access off Brent Rd to back of lot, & fire pit w/ conduit for propane feed. Stunning kitchen reno 2020 showcases the milled maple live edge island & skylight overhead. Contemporary white shaker cabinets, subway tile backsplash, s/s appliances & slate countertops (pool tabletop!) create the heart of the home w/ views of the spacious yard & easy access to the fabulous sundeck, perfect for summer dining. Upstairs primary bedroom w/ ensiute & WIC, 2 bedrooms & main bath. Lower level offers a family room w/ split heat pump (for heating & A/C), access to the yard, bedroom/den, bath, laundry & storage for your gear. Roof 2014, 2nd well for irrigation.

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I have sold a property at 4076 Marsden Rd in Courtenay

I have sold a property at 4076 Marsden Rd in Courtenay. See details here

Peaceful, private 5 acre oasis minutes from downtown. This one of a kind property has a freshly renovated 2,165 sqft 5 bed, 2.5 bath rancher with heat pump. Floor to ceiling windows in main living area offer views of the park-like setting. Kitchen has quartz countertops, large island & extra storage, custom cabinets, built in oven & microwave. Large detached workshop & garage approx 1300 sqft on main floor has it’s own services & in-floor radiant heat. Finished 747 sqft guest accommodation with 3 pc bath & kitchen that could provide additional income. A large deck off the upper level for relaxing in the sun & star gazing at night. Property is meticulously maintained & has its own forest of mature cedar & fir trees. Several out buildings including 2 bay RV shelter, woodshed, gazebo, & garden shed. The property is serviced by 2 shallow wells (for each building). Main well provides untreated water, the workshop well has a brand new UV system. A unique property & could be your dream home.

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New property listed in CV Comox (Town of), Comox Valley
I have listed a new property at 2188 Cardinal Pl in Comox.
Charming Comox Rancher on Quiet Cul-de-Sac offers the perfect retreat for those seeking comfort & convenience. Just a few short blocks from Aspen Park, shopping & amenities this well maintained home boasts a fantastic floorplan making every inch of space usable. Bright front living room w/gas fp & adjoining dining area. The kitchen is a culinary adventure waiting to happen, equipped w/newer appliances, pantry cupboard & eating nook overlooking private backyard complete w/huge covered patio area for all seasons & sunny garden section for your green thumb. Primary bdrm w/ 4piece ensuite w/soaker tub, walk-in closet & sliding doors directly to your private backyard oasis. 2 additional bdrms & 4 piece bath complete this comfortable home. Furry friend approved w/mudroom/laundry area. Park your ride & store your goodies in full sized double garage. Whether you're a retiree, pro couple or family looking to get into the market this place checks the boxes.
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Open House. Open House on Sunday, September 17, 2023 1:00PM - 2:30PM

Please visit our Open House at 2188 Cardinal Pl in Comox. See details here

Open House on Sunday, September 17, 2023 1:00PM - 2:30PM

Charming Comox Rancher on Quiet Cul-de-Sac offers the perfect retreat for those seeking comfort & convenience. Just a few short blocks from Aspen Park, shopping & amenities this well maintained home boasts a fantastic floorplan making every inch of space usable. Bright front living room w/gas fp & adjoining dining area. The kitchen is a culinary adventure waiting to happen, equipped w/newer appliances, pantry cupboard & eating nook overlooking private backyard complete w/huge covered patio area for all seasons & sunny garden section for your green thumb. Primary bdrm w/ 4piece ensuite w/soaker tub, walk-in closet & sliding doors directly to your private backyard oasis. 2 additional bdrms & 4 piece bath complete this comfortable home. Furry friend approved w/mudroom/laundry area. Park your ride & store your goodies in full sized double garage. Whether you're a retiree, pro couple or family looking to get into the market this place checks the boxes.

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I have sold a property at 9 1646 Balmoral Ave in Comox

I have sold a property at 9 1646 Balmoral Ave in Comox. See details here

Open House Cancelled July 16. Welcome to Ocean Pointe, a beautiful 3bdrm 2 bath main level townhome in the core of downtown Comox, across the street from Anderton Park & Comox Mall. A short stroll to golf course, tennis, beaches, shopping, marina, brew pubs, coffee shops & popular restaurants. Bright open floorplan w/9ft ceilings, electric fireplace, fresh paint, new hotwater tank & updated flooring throughout. Spacious kitchen w/ island, walk-in pantry & appliances included. Mbdrm w/ 3 piece ensuite & walk-in closet. Convenient for guests w/ 2 bdrms to choose from & 4 piece bath. This immaculate home is move-in ready & available for quick possession. Park your car in the garage as everything is at your doorstep. Get ready for a summer spent on your private back patio area & enjoying all that this coveted Comox neighbourhood & strata has to offer. Age restriction of 55+, and a pet is welcome.

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