Low Inventory, Upward Pressure on Price in Around Town

November 5, 2020

Your Weekly Construction Briefing

The changes to the Vancouver Island Real Estate Blard (VIREB) statistics/Matrix system for the Single Family Detached market now captures additional property types such as ‘Detached Waterfront’ houses. While this means that some of the past market indicators have been skewed, the numbers continue to provide some insight into the market trends.

Kutyn Property Services has released its October Market Minute, and low inventory is putting upward pressure on home prices in the Comox Valley and Campbell River

October 2020 VIREB stats

Comox Valley – Single Family Dwelling Sales

  • YTD Jan 1 – Oct 31: 770, up 6% 
  • Average Price: $668,403, up 9% based on 851 sales

Campbell River – Single Family Dwelling Sales

  • YTD Jan 1 – Oct 31: 455, up 8.6% 
  • Average Price: $552,681, up 10% based on 851 sales

Excerpts from Market Minute by Kutyn Property Services, www.kutyn.com 

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