Around Town: Apartment Condos are Selling (but!) for Less in the Comox Valley and in Campbell River
In the apartment/condominium sector, the average prices of properties are down; 14% in the Comox Valley and 18% in Campbell River. The analysis from Kutyn Appraisers indicates that the market in Campbell River is balanced; although the Sell/List ratio is 64% in the Comox Valley prices are falling in the Comox Valley.
The MLS statistics for the Single Family market in both areas have Sell/List ratios in excess of 60% pointing to a ‘sellers market’. It is noteworthy that the upward pressure on price appears to have been eliminated in the Comox Valley market; a 1% increase in the average price on 814 sales over the past 12 months. There has been upward pressure in Campbell River where the average price is up 5%.
Editors Note: This article was written by Christopher Kutyn
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