Sarah Baikie - RE/MAX Check Realty - Campbell River area

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Real Estate Fast Facts on Campbell River


  • In the 12 months ending September 30th, 2015 there were 804 sales of all property types in Campbell River, an increase of 8% over the same period in 2014.  The highest number of annual sales was 1181 in 2007. 
  • The 12 month average sale price of a Campbell River home is $315,408 up 3%.  The average lot price is $135,566 up 17%. If you purchased an ‘average’ home in 2006, you paid $265,602.  If you bought an average lot, you paid $103,171.  
  • YTD 2015, 47 houses a month have sold.  (For all 2014 - 46, for 2013 – 42, for 2012 – 37, for 2011- 41, for 2010 - 36, for 2009 - 44, for 2008 - 38, for 2007 -58, for 2006 - 54.)
  • Houses are currently (September) selling within 57 days for 96% of their asking price.  The list/sell ratio is 56%. 
  • YTD 2015 residential sales occurred in Willow Point – 44%, Campbell River City – 35%, followed by Oyster River North - 9%, Quinsam-Campbellton – 8% and Campbell River North – 4%. 
  • Houses make up 71% of the 419 residential properties currently offered for sale.  Condos are 23%, duplexes – 4%, mobile homes – 2%.  The active inventory of all properties is 644, down 9%.
  • The largest single family home price differential is between Willow Point where the 12 month average price is up 6% ($328,501) and Campbell River North where the price is down 10% ($291,783).
  • YTD 2015, 29 houses have sold for less than $200,000. In all of 2014 there were 48.  In 2013 – 59, in 2012 – 52, in 2011 – 56, in 2010 – 36, in 2009 - 67.
  • YTD there have been 35 residential sales over $500,000.  There were 26 sales over $500,000 in all of 2014, in 2013 -15, in 2012 – 20, in 2011 – 26, in 2010 – 15, in 2009 -10, in 2008 – 26. The 12 month median price (half sales above, half below) for 2015 is $303,400.
  • From Building Links: A development permit has been submitted for a new building to house the Ford dealership in Campbell River. The building will be 30,000 sq. ft. in size. Construction drawings are underway and the project consultant is Ketza Pacific Construction.
  • A development permit application has been submitted for the new 18,000 sq. ft. addition and renovation to the Toyota building in Campbell River. Some of the existing building will be demolished. Ketza Pacific Construction is the project manager. Construction is expected to begin in early 2016 once the building permit is in place.
  • There are 97 REALTORS® in Campbell River among the 965 members of the Vancouver Island Real Estate Board.
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Real Estate Fast Facts on Campbell River

 

  • In the 12 months ending July 31st, 2015 there were 785 sales of all property types in Campbell River, an increase of 5% over the same period in 2014.  The highest number of annual sales was 1181 in 2007. 
  • The 12 month average sale price of a Campbell River home is $312,427, up 3%.  The average lot price is $131,736, up 16%. If you purchased an ‘average’ home in 2006, you paid $265,602.  If you bought an average lot, you paid $103,171.  
  • YTD 2015, 46 houses a month have sold.  (For all 2014 - 46, for 2013 – 42, for 2012 – 37, for 2011- 41, for 2010 - 36, for 2009 - 44, for 2008 - 38, for 2007 -58, for 2006 - 54.) 
  • Houses are currently (in the month of July) selling with 75 days for 95% of their asking price.  The list/sell ratio is 61%.
  • YTD 2015 residential sales occurred in Willow Point – 43%, Campbell River City – 36%, followed by Oyster River North - 9%, Quinsam-Campbellton – 8% and Campbell River North – 3%. 
  • Houses make up 69% of the 492 residential properties currently offered for sale, condos are 24%, duplexes – 4%, mobile homes – 3%.  The active inventory of all properties is 736, down 7%.
  • The largest inventory of single family dwellings is in Willow Point (140) where the average price is up 4% ($323,926), followed by Campbell River City (82) where prices are up 3% ($305,652).
  •  The greatest current single family home price differential is between Willow Point where the average price is up 4% ($323,926) and Campbell River North where the price is down 7% ($286,328).
  •  YTD 2015, 23 houses sold for less than $200,000. In all of 2014 there were 48.  In 2013 – 59, in 2012 – 52, in 2011 – 56, in 2010 – 36, in 2009 -67.
  • YTD there have been 26 sales over $500,000.  There were 26 sales over $500,000 in 2014, in 2013 -15, in 2012 – 20, in 2011 – 26, in 2010 – 15, in 2009 -10, in 2008 – 26. The 12 month median price (half sales above, half below) for 2015 is $305,000.
  • There are 14 SFD waterfront listings currently on the market, priced from $379,999 to $1,850,000. There are 12 waterfront condos listed from $174,800to $324,900. The highest priced residential sale YTD was for $840,000
  • There are 100 REALTORS® in Campbell River among the 963 members of the Vancouver Island Real Estate Board.

 

 

 

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Real Estate Fast Facts on Campbell River

 

  • In the 12 months ending June 30th, 2015 there were 773 sales of all property types in Campbell River, nearly identical to the same period in 2014.  The highest number of annual sales was 1181 in 2007. 
  • The 12 month average sale price of a Campbell River home is $313,632, up 5%.  The average lot price is $132,466 up 20%. If you purchased an ‘average’ home in 2006, you paid $265,602.  If you bought an average lot, you paid $103,171.  
  •  YTD 2015, 44 houses a month have sold.  (For all 2014 - 46, for 2013 – 42, for 2012 – 37, for 2011- 41, for 2010 - 36, for 2009 - 44, for 2008 - 38, for 2007 -58, for 2006 - 54.) 
  • YTD 2015 residential sales occurred in Willow Point – 42%, Campbell River City – 38%, followed by Oyster River North - 9%, Quinsam-Campbellton – 8% and Campbell River North – 3%. 
  • Houses make up 67% of the 478 residential properties currently offered for sale, condos are 26%, duplexes – 3%, mobile homes – 4%.  The active inventory of all properties is 719, down 7%.
  • The largest inventory of single family dwellings is in Willow Point (122) where the average price is up 4% ($320,188), followed by Campbell River City (90) where prices are up 7% ($310,640).
  • The greatest current single family home price differential is between Willow Point where the average price is up 4% ($320,188) and Campbell River North where the price is down 11% ($283,697).
  • YTD 2015, 20 houses sold for less than $200,000. In all of 2014 there were 48.  In 2013 – 59, in 2012 – 52, in 2011 – 56, in 2010 – 36, in 2009 -67.
  • YTD there have been 18 sales over $500,000.  There were 26 sales over $500,000 in 2014, in 2013 -15, in 2012 – 20, in 2011 – 26, in 2010 – 15, in 2009 -10, in 2008 – 26. The 12 month median price (half sales above, half below) for 2015 is $305,000.
  • There are 16 SFD waterfront listings currently on the market, priced from $399,500 to $1,850,000. There are 17 waterfront condos listed from $179,800 to $324,900. The highest priced   residential sale YTD was for $999,000.
  • There are 100 REALTORS® in Campbell River among the 963 members of the Vancouver Island Real Estate Board.
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Real Estate Fast Facts on Campbell River

 

 

  • Residential sales increased by 25% for February 2015 compared to February 2014. 

 

  • The average sale price was 96% of the listing price of the home.

 

  • The median sale price of a Campbell River home for the month of February was $269,300 which indicates that the strongest sales activity was for homes in the lower price range.

 

  • The sell/list ratio (number of sales compared to the number of listings for the month) was 56% - a relatively high number (in fact it was the highest of all the communities included within the Vancouver Island Real Estate Board).  A high number indicates a ‘tightening’ of supply which often leads to higher prices.

 

  • There were 203 homes listed for sale at the end of February – up a modest 3.9%.  Typically listings increase dramatically in that period after Christmas as Vendors make the decision to sell into the spring the market.  Again this was the lowest percentage increase within the Vancouver Island Real Estate Board.

 

  • There were 7 lot sales this month compared to 4 during the same period last year.  The average price was $128,900 compared to $99,500 last year – up 30%.  Part of this increase is a general price increase but also includes the impact of selling more expensive ocean view lots from a new subdivision recently listed for sale.  We anticipate that lot prices will remain at this level for the foreseeable future.

 

  • The activity in the strata apartment market is stable with the a modest increase in the number of sales this year (4 sales vs 2 sales)  The selling prices to list price was a weak 88% of the list price. Inventory of strata apartments for sale is still high at 60 units representing 16 months of supply.

 

  • The number of enquiries by prospective clients was the strongest in for the month in the last 3 years so we anticipate a continued active Campbell River real estate market.
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Real Estate Fast Facts on Campbell River

 

  • For the month of January 2015 there were 17 residential home sales - a 35% decrease from the 26 sales in 2013. 
  • This decrease is attributed to the drastic decrease in oil prices which may affect employment of those that are living in our City but are commuting to work.  There was a year over year decrease in sales in all the east coast communities with exception of the Nanaimo area.
  • The median sale price of a Campbell River home for the month of January was $337,500 - up 32.5 % from the previous month.  This is the first time since the early 2000’s that Campbell River’s median home price was higher than the median home price in the Comox Valley ( which was $305,00 for the month of December - although this is considered an aberration).  However it does indicate the continued convergence of the real estate prices in all the Vancouver Island east coast communities.
  • There was only one lot sale during the month at $119,800 (the number of sales, or lack thereof is typical for this time of the year – last year there were no lot sales!)
  • The strata apartment market finally appears to be stabilizing with the same number of sales this year same as last yewars (2 sales)  The selling prices were within 95% of the list price. However the inventory of strata apartment is still high at 60 units representing over 2 years of supply.
  • The strata patio home market continues to be stable with sale prices within 98% of the list price.  Inventory of units for sale did not change from the December inventory of 22 units.  Patio homes continue to be a very popular with retirees.
  •  Every dark cloud has silver linings and the drastic decline in world oil prices is definitely ‘a dark cloud’ but the silver linings include:
    • Lower interest rates.  Five year fixed rates are as low as 2.99 per cent compounded semiannually and variable fixed term rates are as low as 2.6% calculating monthly.
    • Many older employees working in the oil fields will take this opportunity to retire and move to Vancouver Island
  • Also Campbell River is fortunate to be inoculated against a possible down turn in the Canadian economy due to the current capital investment of approximately $2 Billion being invested in the Campbell River area over the next 10 years  (Yes that is $2 Billion with a “B”)
  • All in all, we are expecting a stable real estate market in 2015 with a good chance of it being stronger than last year’s.
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