Hi to all and hoping you’re having as great a summer as we are. The consistent and extended hot weather is much like a typical Summer from my birthplace, Melbourne. It makes me chuckle if a client says it’s too hot, my reply is “we’re only getting started, no one’s cooking an egg on the sidewalk yet”.
To top off the great weather, my sales this year are a personal best taking me to number one selling agent for our office. A sincere thank you to current and previous clients for trusting me, family and friends for recommending me, and Chris for his amazing virtual tours and photos. We’re focusing on how buyers are introduced to a property. We’ve fine tuned our approach, tailoring efforts to online rather than print campaigns, and ensuring our online content is as good as anywhere in the world. Chris often appears from his very messy media room and declares the new toy purchase:
“I need a steady cam, there’s a realtor in Florida and his virtual tour…”
“I need a drone helicopter, there’s a realtor in Sydney….”.
So far so good with the new toy purchases; no seaplane or boat request yet, phew.
This year I’ve done more open houses than ever before, my favorite buyer meet-and-greet. Previously I’d do three on a Saturday, but this year I was pumping out four on Saturdays. On Sundays we have dinner at Chris’s parents’ house, and my father-in-law one night said he saw me running. We had a good laugh. With the weather being so hot, no one is bothering to come to open houses, but trust me when I say I’ll be back at her once the cooler weather comes.
Campbell River is a great market to buy into with solid gradual upward growth. June saw 64 single family homes sell, well beyond the 37 units sold in June 2013. 2013s average single family sale price was $287,733, and has since increased to $302,679 this year and rising. Around town many projects have broken ground, to name a few: the new hospital, the BC Hydro upgrade, and the new Comfort Inn Hotel. Staff at Seymour Pacific Developments have moved into their fancy new digs, and Berwick By the Sea retirement home will have residents moving in by the Fall.
Bare Land is another great indicator of our City’s upward market. In 2013, the average price for a lot was $100,966. As of July 2014 the average price is $113,895 and rising. The sell price/list price ratio is 100%, which means lots are selling for full price. Jubilee Estates has just released 32 new lots in Phase 6, great sized lots within a subdivision of tree-lined side walks, walking trails connecting to Maryland Estates and Willow Creek Conservation area, and a short stroll to the Sea Walk.
The condo market is dancing to a different tune. Sales are sluggish, with 3 units selling in July 2014, compared to 7 the same month the previous year. Of those sales, on average they took 198 days to sell and sold for 93% of list price. The condo market is an apt should’ve, could’ve, would’ve story. In years to come, many will kick themselves for not taking advantage and purchasing one of these units that showcases world-class ocean and coastal mountain views. Buy at today’s prices, rent it out until you are ready to downsize to condo living. I have two lovely waterfront condo listings, one in Hidden Harbour and one at Willow Point Estates, both allow rentals.
Keep having a great Summer!