Sarah Baikie Personal Real Estate Corporation - RE/MAX Check Realty - Campbell River area

250-203-3087

Hot and that’s not the temperature I’m referring to.  If you’re a buyer hoping to purchase into Campbell River’s property market, you better have a good realtor!

 

Low inventory continues to plague our market, a trend that will continue well into 2017.  Sales are up across all sectors – bare land, single family, patio homes and strata. 

 

A successful purchaser must dash out at a new listing, still wearing pj’s with a coffee in hand.  A good realtor know of upcoming listings and informs their client before it has a chance to hit mls.

 

Sellers are grinning!

 

Below are the fast facts for June.

 

  • In the 12 months ending June 30th, 2016 there were 980 sales of all property types in Campbell River, up 27% over the same period in 2015.  The highest number of annual sales was 1181 in 2007.
  • The 12 month average sale price of a Campbell River home is $323,571 up 3%.  The average lot price is $138,508 up 5%. If you purchased an ‘average’ home in 2006, you paid $265,602.  If you bought an average lot, you paid $103,171.
  • YTD in 2016, a new record high 59 houses per month have sold.  In 2015, 45 houses a month 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.
  • In all 2015, houses sold within 70 days for 96% of their asking price.  The list/sell ratio (LSR) was 62%.  In June 2016, houses sold in 53 days for 98% of asking price and the LSR was 98%.
  • YTD 2016, residential sales occurred in Willow Point – 45%, Campbell River Central – 30%, followed by Campbell River West – 10%, Campbell River South - 9%, and Campbell River North – 6%. The single family dwelling inventory is down 27%.
  • Houses make up 67% of the 362 residential properties currently offered for sale. Condos are 29%, duplexes – 2%, mobile homes – 2%.  The active inventory of all properties is 527, down 27%.
  • The largest single family home price differential is between Campbell River West where the YTD average price is up 11% ($385,080) and Campbell River South where the YTD price is down 7% ($296,211).
  • YTD 2016, 28 houses have sold for less than $200,000.  In 2015, there were 41 houses sold. In 2014 - 48.  In 2013 – 59, in 2012 – 52, in 2011 – 56, in 2010 – 36, in 2009 - 67.
  • YTD 2016 there are 24 residential sales over $500,000, representing 7% of all residential sales.  In 2015 there were 40 sales over $500,000, representing 7%.  There were 26 sales 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) is $309,750.
  • From Building Links - Community site event at John Hart Dam – BC Hydro and InPower BC, will be hosting the second annual community site event at the John Hart Dam on Sunday, July 17, from 10 am to 3 pm. This is a unique annual opportunity to see the construction site and watch the project evolve through 2018. 
  • There are 104 REALTORS® in Campbell River among the 1027 members of the Vancouver Island Real Estate Board

 

Read full post
NOTE: MLS® property information is provided under copyright© by the Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification. This website may only be used by consumers for the purpose of locating and purchasing real estate.