The Comox Valley real estate market is moving—but not as fast as last year. Here’s what you need to know whether you're buying or selling.

For Sellers: Pricing Power, But Patience Required

The good news? Prices are holding steady. Over the past 12 months, the average sale price for single-family homes rose 3.98% to $888,671. Buyers are paying close to asking price, with homes selling at 98.2% of list price.

The challenge? It’s taking longer to sell. The average days on market for detached homes is now 49 days, though in January, it stretched to 90 days—a reminder that winter tends to slow the market down. If you're selling, price smart and expect a longer timeline.

Townhouses continue to be the star of the market—prices have jumped 21.5% over the past year, and demand remains strong. Condos, on the other hand, saw a 7.33% price drop in January and are taking longer to sell, suggesting buyers are holding out for deals.

For Buyers: More Choices, But No Fire Sale

If you’ve been waiting for prices to drop, that’s not happening. Inventory has increased slightly, but prices remain stable. The recent Bank of Canada rate cut could lower borrowing costs in the months ahead, which may bring more buyers into the market this spring.

What to Watch For in February & Beyond

• Interest Rates: If mortgage rates drop further, expect more buyers to jump in.

• U.S. Tariffs: A potential 25% U.S. tariff on Canadian steel and aluminum could increase construction costs.

• Spring Inventory Surge: More listings typically hit the market in February and March—if you’re buying, this could be your window for more choices.

Bottom Line?
Sellers, be realistic with pricing and patient with timelines. Buyers, there’s more to choose from, but don’t expect bargains. The market is stable, just moving at a slower pace.

Thinking about buying or selling? Let’s chat.