2016 proved to be an exceptionally busy year in the Comox Valley Real estate market, with 23% more single family homes sold than in 2015. Our average housing price also jumped up by 14% to around $414,000. This resulted in many competing bids and properties attracting full price and sometimes above price offers. From the selling side, very positive and exciting but from the buyer's side often stressful and trying.
Currently we are experiencing a shortage of inventory in most price brackets across the Comox Valley. We hope and expect that the Spring will pick up like it traditionally does as the military postings are released in February/March and often stimulate the market. In many cases people wait until the Spring to showcase their homes in the better weather conditions and with the philosophy of "new beginnings". The added stress for those people looking to relocate within the valley means an attidude of "If i sell, where do I go?" It is the chicken and the egg scenario... Working with a trusted Realto to buy and sell has never been so important.