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

250-203-3087

Wishing you the best of health and happiness. Happy Easter!


It’s 9pm on Good Friday as I write this newsletter - both my kids (12yo Zak and 8yo Jasmine) are bouncing on the trampoline in the dim exterior light of the detached shop. It is past their bedtime. The inky-blue sky is dotted with stars. If the neighbours hear their laughter and joy, I suspect it will put a smile on their face. It is good for children to share laughter and joy to adult ears, when there are currently 1,700,388 reported Covid-19 infections and 102,755 deaths, which have sadly occurred since the first reported case in China on November 17th, 2019.


I am a single mum with two school aged kids. They roll their eyes when I remind them in the morning that “we can’t sleep in, we must get dressed, and together let’s do activities that we can learn from while school is indefinitely closed.” Such as Book Club, Outdoor Adventurer, Chef’s Up, teaching Mum to hover board and playing board games.


Everyone asks: “What do you think will happen to the real estate market?” 


“Well….”, I say, “I know what happened yesterday, and what happened today. The world is changing fast so I do not know what tomorrow may bring. Here, I’ll send you an article that answers that question well”. http://www.westerninvestor.com/news/british-columbia/sharp-drop-in-b-c-home-sales-should-be-followed-by-steady-recovery-bcrea-1.24114014?utm_source=Western+Investor+Newsletter&utm_campaign=35fd4d2bb2-EMAIL_CAMPAIGN_2018_01_03_COPY_01&utm_medium=email&utm_term=0_9b89d35e1e-35fd4d2bb2-96642945


This pandemic unleashed sudden and unexpected changes to all. Kudos to Health Carers worldwide and to everyone for adapting as best they can for the good and wellbeing of all. Thank you! My heart goes out to those that have suffered and those that have passed on to the afterlife, and to the frontline health carers who become infected and possibly die.


Realtors® are an essential service. My business is encouraged to remain open during the Covid-19 crisis, as long as I obey public health orders to reduce the spread of the virus. I do not qualify for EI, CERB or CEWS. My monthly business overheads churn on, in addition my monthly personal expenses. I was prepared for a crisis - prepared to survive financially if I needed to, with no further self-employment income it if came down to it. I learned hard lessons during the ’08 Global Financial Crisis and survived that. I learned to save, to pay off debt and to nurture my Jade plant money tree that sits on my kitchen counter. 


I work each day from home supporting clients who bravely soldier on - listing their properties for sale and doing my best to sell virtually. I am operating at about 15% productivity. The Vancouver Island Real Estate Board reported in the past 4 weeks that 6 RE/MAX Realtors® in my local area have switched brokerages and parked their licence at a discount brokerage that charges no membership dues and fees, and that 4 Realtors® so far have given up their licence. They were amongst a list of 28 fellow Realtors® from various brokerages within the Vancouver Island Real Estate Board.


Working during the pandemic, I find that everything takes longer. It is what it is, and I accept that rather than get frustrated. 


My 8yo daughter has just run in from the rear garden to give me a hug. She knows it’s past her bed time and that the hug might reward her some extra trampoline time. I am a pushover mum. It’s late and I’ve let her go back outside rather than tell her to go to bed now.


To cope with social distancing. I participate in daily live stream yoga sessions. My mat is set up in the guest bedroom. Most days I go for a run. I find new trails. My run on Thursday took an epic adventurous turn - the trail seemed endless and did not curve and loop back to my car until well past the 10k mark. When I run, I wear my bear/cougar defence backpack with spray, whistle, phone and knife. Whether it will be of help or not or whether it is silly or practical, it makes for a more enjoyable run just knowing I have it with me.


Not even the best economists and forecasters know what is going to happen to the real estate market over the next 24 months. Those that are bold enough to publish articles with their opinion and analysis of stats, survey results and reviews of past economic downturns, are not able to definitely answer this question of “what will happen to the real estate market?”


Here is an account of my past 4 weeks operating at 15% productivity. Removed conditions and sold a listing. Listed an executive rancher at 115 Oregon Road.https://livetour.istaging.com/651236f3-0218-4585-9431-e21ed3cc2480 Completed 3 transactions while carefully adhering to public health orders with key handover. 2 virtual showings. Spoken with numerous clients and replied to emails and texts. Participated daily in Zoom meetings (on Wednesday, I styled my hair into a 5 inch Mohawk to amuse co-workers). Completed 2 evaluations. Wrote two offers that were $20,000 less than the list price of which both offers were quickly rejected (a sign that sellers are holding strong in the Covid-19 tunnel with hope of a better priced offer to come). I note the growing pile of 17 listing files on my desk that were sellers intending to list, but are now on hold until Trudeau regains their confidence to get on with their plans to list and sell. Today I drafted an offer (a 13-page new construction custom build) and my son and I made a short movie together for a RE/MAX Check Realty initiative which I will share with you in my next newsletter. Here is a screenshot of my son and I.

  

Yesterday was the first time in approximately 4 weeks that I ventured out and shopped in person. With sanitized hands, I entered London Drugs and chose Easter treats for the kids and a birthday card for my soon to be 13yo son (we celebrate his birthday tomorrow). The signage above the shelving said something along the lines of Do Not Handle Goods, Touch Only What You Buy. I chose a birthday card with a picture of a pickle on it, not knowing what it says inside but thinking it must have a good punch line. In another aisle, I saw a lady of similar age to me wearing a large surgical mask, and another aisle was a man wearing a scarf wrapped around his face and another guy wearing black rubber gloves. Very different to four weeks ago. I looped around the aisles again, not to shop but just to take it all in. I encountered a past client who I have helped sell and buy. We practiced social distancing and snuck a quick chat in. At the register, I sanitized my hands again and passed my carefully chosen goods to the cashier, through the cut-out hole in the newly erected enormous clear plastic screen that safely separated her from me. The hole was L-shaped and I wondered who was this clever person that so quickly designed this screen and figured out that this L-shape is perfect for passing through the thousands of various sized items within this shop. I sanitized my hands again, took out my credit card, paid, placed credit card back into wallet, gathered the bag and left, sanitized my hands again to load the bag into the rear of my car and then again before opening the driver door and seating myself in the driver’s seat. I tell myself, remember this.


For the past 4 weeks, I am dependent on my local go-to Healthyway to deliver groceries to my door. They ring the doorbell to let me know the box is out front, and then they drive away. Whether you may think it is wrong or right, over the top or crazy, I spread a blanket out on my kitchen floor, carry the large boxes in with gloved hands and then go about washing everything with soapy water, even washing the cardboard packaging. Then wash the blanket. I tell the kids, look see what Mum is doing, remember this. Yup, maybe I am over cautious, but I believe I need do this. I do not need to read or watch the good hygiene advertisements that the government is promoting. I have not touched my face for many years. Have not handled and eaten food with unwashed hands for many years. For many years the kids sanitize as they get in the car at the end-of day-school-pick-up. For many years the first thing we do when we get home is wash our hands. I am mindful of the 11 rounds of IV therapy that were pumped into my heart via a portacath and the 28 rounds of radiation aimed at the area around my heart and lungs, and I am very certain that I do not want to test my organ resilience with a case of Covid-19.


March 13th, the kids and I almost went to Costa Rica. We were to depart on a 6am flight out of Comox. It dawned on me the evening of the 12th that I would not be packing the bags. We did not get on the flight despite Trudeau not yet making an announcement about international travel and despite my travel agent telling me there would be zero refund for the G-Adventure Tour and 3 Air Canada flights. $7,000 down the drain. I didn’t care. My 8yo cried. She really wanted to go. On March 15th, due to Trudeau making the no international travel announcement and asking Canadians to come home, my travel agent sent me an email and had good news. All would be refunded other than the tour deposit. Wonderful. In the following weeks while reading news articles, my son kept telling me that it was soooooo good that we did not go. 


The kids are inside now. It took a while for them to calm down from their late-night trampoline antics. They are safe, healthy and curled up in bed now sleeping. Tonight, while writing this newsletter there were 2,759 new reported Covid-19 infections and 91 deaths.


If I have said too much, I am sorry. I miss my community. I look forward to your reply to hear how you are doing, how you are adjusting and sharing with me the changes to your daily routines. You are welcome to call me. Would love to chat. Anytime. 


Wishing you and your family the best of health and happiness!

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We are fast approaching my favourite time of the year, holiday season! I’m looking forward to taking my two kids (Zak 12yo and Jasmine 8yo) for a one week vacation to a small village called Troncones, Mexico. It is our second time to visit this destination. We are staying at a yoga resort, visiting the dog rescue shelter each day volunteering as dog walkers, horse riding on the beach at sunset most evenings, getting around during the daytime by bike, there is a day of snorkelling to look forward to, a quick stint of fishing, kayaking up a river to meet the ‘Iguana Man’, no cooking at all (yay!), plus the highlight of the temazcal sweat lodge ceremony where we give thanks. As a realtor I clock up approx 2,500ks per month driving around the Campbell River area making my way from one appointment to another, which makes the vacation a welcome change of pace and a welcome change of mode of transport.


For the 12 months ending Nov 30th, 2019:

-       Sales are down -12% (441-503)

-       Sales dollars down -5% ($226.8M to $216.2M)

-       Average price is up +9% ($450,900 to $490,200)

-       The majority of sales occurred $450,000-$600,000 (180 sales) compared to $350,000-$450,000 (159 sales)

-       53% of CR buyers are purchasing for retirement (up from 44% in 2014). 19% are first time home buyers (down from 24% in 2014)

-       41% of CR buyers are from the Campbell River area. 43% from Vancouver Island. 23% are from the lower mainland (up from 13% in 2014). Alberta 5% (down from 18% in 2014). 14% other BC. 13% rest of Canada. 2% overseas


Couverdon, the developer of Jubilee Heights, has released Phase 2 residential lots for pre sale. Pricing ranging from $174,900-$179,900. Contact me if you would like a subdivision overview, pricing and lot info.


A huge shout out and thank you to all my clients! During the month of November and December, 54 clients submitted online testimonials and ratings. It is not too late to submit and enter the competition to win a 2 night holiday to Mt Washington Ski Resort. Online reviews and ratings are truly important for myself as a realtor to succeed. There are 3 options outlined below:

To submit a written testimonial:

  1. Click here to submit your testimonial to RankMyAgent

To submit a rating:

  1. Click here to submit your testimonial to REW
  2. Click here to submit your testimonial to Yelp

The winner will be drawn December 20th, 2019. Please don’t hesitate to contact me if you are considering buying or selling. I look forward to your reply and hearing your plans for the holiday season

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Do you have a fixed or variable mortgage? Below is the latest Pulse of Interest Rates in Canada!

 

The current Overnight Interest Rate is 1.75%.  The Bank of Canada left it unchanged during its December 4th meeting.  The next meeting of the Bank of Canada is on the 22nd of January.  The expectation by most market Analysts is that the Overnight Rate will remain at 1.75% at the next meeting.  The Bank of Canada has cited better then expected exports, a resilient housing market and fairly stable inflation as the main factors that affected its most recent decision.  The current benchmark rate is at 5.19% and this is the rate all insured purchases are qualified at.  Every overnight rate increase affects all borrowers that have a HELOC or a Variable rate by an immediate 0.25% increase and does not affect at all borrowers that have fixed rates of 1-5 years unless they have a pending mortgage renewal.  


The best 5-year fixed rate available is 2.69% while the best 5-year variable is 2.85% for this month for an insured purchase with less than a 20% down payment or with a down payment over 35%.  For applicants with a credit score over 620 and over 680 respectively there is the option to qualify without the 2% stress test for a rate between 3.09% to 3.89%.  The preceding rates are valid only for applicants with a strong credit history and scores over 620, 650, 680 or 700 depending on the Lender.  Rates are higher for conventional and uninsurable mortgages and may also be higher in other parts of the province as certain lenders only lend in the Lower Mainland and major Metropolitan areas across Canada. 


If you are considering buying or refinancing and would like to know who are the Top 2 best mortgage brokers in Campbell River, please do not heistate to contact me. 

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Campbell River’s real estate market is varied. Balanced in some sectors. A Seller’s market in other sectors.


Residential has shifted from a Seller’s market to Balanced:

  • Currently there are 137 active listings. Down 5.5% from last month. Up 88% Year to Year (October 2018 there were only 73 listings)
  • There were 35 sales in October. Unchanged from previous month. Down 26% Year to Year (October 2018 there were 47 sales)
  • Year to Year the odds of selling increased by 5.8% compared to October 2018. October 2019, 74% of the listings remained unsold and 26% sold
  • The average days to sell 44. 7.3% slower than last month. 26% slower than October 2018 which was 35 days
  • The average sale price $464,900. Down 14% from last month ($541,800). Up 6.5% Year to Year ($436,400)
  • The sell/list ratio is still very strong with 69% of new listings selling in October. Even with the reduced amount of sales, the inventory of homes declining month over month maintains a balanced market 

Land:

  • Campbell River has the least amount of lots listed. 15 in Campbell River. 45 Comox. 39 Qual/Parksville. 38 Alberni. 133 Nanaimo. 164 Duncan
  • The median price of a lot in Campbell River is $191,900 plus 5% gst. Land in CR continues to steadily appreciate and stepping into the future this trend is expected due to the slow turnover of developed land for sale 
  • In the foreseeable future there are two potential opportunities for buyers to purchase land. Contact me if you would like to be kept informed about the upcoming Phase 2 of Jubilee Heights and the final cul de sac of residential lots in Jubilee Estates

Strata Apartments:

  • Seller’s market. List/Sell ratio 100% for the second month in a row. Inventory 2.4 months with a median selling price of $215,900. If another strata apartment was not listed, we would run out of inventory and place further upward pressure on pricing 
  • There are only 7 units currently for sale. October 2018 there were 22. Down 68%  
  • Affordable housing dilemma continues. Investors are quicker off the mark to submit their offers and purchase new listings, rather than primary home owners 
  • Multiple offers still occurring with strata apartments due to low inventory. Some offers submitted within hours of being listed for sale 

Patio Homes:

  • Seller’s market. Only 1.5 month of inventory. Total of only 6 units listed for sale. Sell/list ratio 80%. Median price $465,000
  • Lack of supply. Solid demand
  • Contact me if you would like to be kept informed of the upcoming Eagle Ridge Executive Patio home development. 27 units to be listed for sale in the coming months. Offering a unique pocket community adjoining green space, ERT walking trail and walking distance to the Campbell River Country Club golf course, bar, function centre and restaurant  

Townhouses:

  • Balanced market. 3 units listed, 3 units sold
  • Median sale price $232,500 and sold on average within 11 days on market.  
  • Year to Year listings have increased 47% and currently there are 9 townhouses for buyers to choose from
  • Expect more new town house developments over the coming years. Premier Homes is about to break ground on 14 townhouses in Hilchey Road. Some will have ocean view. Contact me for more information.
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Over the past 24 months, the average Campbell River single family sale price rose $110,000. From $340,000 to $450,000. More buyers were competing to purchase the dwindling inventory of properties, creating an upward pressure on pricing. Residential sales peaked in 2016, with 77 sales recorded in May 2016 when buyers had 213 single family listings to choose from. 54 sales were recorded in May 2017 when buyers had 138 single family listings to choose from. And 58 sales were recorded in May 2018 when buyers had 97 single family listings to choose from.


As of October 2018, Campbell River reported a mere 73 single family listings for sale. If a hypothetical situation occurred where no further residential listings entered the market, we would run out of inventory in less than two months. For the past 12 months sales were down 14% and the trend of reduced residential sales will continue if inventory remains at the current low levels. It will be a welcome relief, for buyers and local builders, when Parkway Properties releases 35 residential lots for sale in Jubilee Estates later this month. In addition, Couverdon is working hard to prepare 50+ lots in Phase 1 of Jubilee Heights which will most likely be available to purchase early 2019.


Lack of inventory is not the sole factor affecting sales. Decreased sales are also due to i) out of town buyers moving to Campbell River needing to be satisfied with the sale proceeds of their current property. If they can’t sell their house in Vancouver/Victoria then they can't move to Campbell River ii) the number of first time home buyers declining due to the reduction in this demographic group iii) increasing interest rates and iv) the lending regulations ’stress test’ resulting in a tougher mortgage qualification process. 


Despite this increase in property values, Campbell River continued to attract buyers because it is still relatively affordable compared to other areas of Vancouver Island. Campbell River’s median sale price in October 2018 was $415,000 compared to Comox $505,000, Qualicum/Parksville $635,000, Alberni $290,000, Nanaimo $525,000 and Duncan $520,000.


Campbell River Fast Facts:
• The average patio home purchased in 2018 was built in 2015, 1,617 sq ft, on a 6,278 sq ft lot, 2 bedrooms, 2 bathrooms and approximately $412,000. 29 patio homes (built 2010 or younger) were purchased in 2018 of which 18 were new construction (5% gst payable), and 11 were resale. Currently there is only 1 patio home listed for sale that is built 2010 or younger. It will also be a welcome relief to buyers when the 30 unit development Eagle Ridge Executive Patio Homes is listed for sale within the next couple of months http://eagle-ridge.ca


• The average new or near new rancher purchased in 2018 was built in 2010, 1,576 sq ft, on a 7,742 sq ft lot, 3 bedrooms, 2 bathrooms and approximately $495,000. 25 ranchers (built 2010 or younger) were purchased in 2018 of which 5 were new construction (5% gst payable), and 20 were resale. Currently there are only 6 ranchers listed for sale that are built 2010 or younger, and none of these active listings are ranchers with a bonus room


• The most recent sale of a rancher with a bonus room was $617,000 plus gst and located at 65 Country Aire Drive which is the Willow Point area. In 2018, 42.6% of Campbell River’s sales occurred in the Willow Point area


• The average new or near new 2-level home purchased in 2018 was built in 2014, 2,584 sq ft, on a 9,088 sq ft lot, 4 bedrooms, 3 bathrooms and approximately $638,000. An ‘ocean view’ 2-level home sells for higher, with an average of approximately $702,000. Typical ocean view addresses include Timberline Drive, Sunderland Road and Mariner Drive. 30 2-level homes (built 2010 or younger) were purchased in 2018 of which 12 were new construction (5% gst payable), and 18 were resale. Currently there are only 9 ‘2-level homes’ listed for sale that are built 2010 or younger of which one has an accepted offer as a result of a multiple offer


• October 2018 there were only 14 lots listed for sale. The median sale price of a lot in Campbell River was $224,900 plus gst, compared to Comox $270,000, Qualicum/Parksville $300,000, Alberni $105,000, Nanaimo $238,500 and Duncan $142,000


• October 2018 there were only 2 townhouses listed for sale with a sell list ratio of 200%. What that means is that for each new listing that entered the market, 2 then sold, thus further reducing the inventory. The median sale price of a townhouse in Campbell River was $325,000, compared to Comox $399,900, Qualicum/Parksville $442,500, Alberni $405,000, Nanaimo $349,900 and Duncan $272,900.


It has been a fairly dry and mild Fall so I hope you got out there and enjoyed the sunshine. I look forward to hearing your news! Reply ‘yes please’ if you would like me to email you the data that accompanies this newsletter. If you are looking to buy, sell, build or want an evaluation on your property, more info on the lots coming up for sale in Jubilee Estates or the patio home development at Eagle Ridge, please don’t hesitate to contact me.

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Wishing you all a wonderful and restful Thanksgiving. Hope you have plans to relax or take a walk in the forest to immerse yourself in the stunning Fall foliage. I highly recommend hitting golf balls at the Campbell River Country Club’s new bar-restaurant-virtual golf driving range 'Velocity’. https://crgolf.ca/velocityloungedrivingrange/
 
This weekend is packed with three days of horse riding lessons. I am training with Georges Melloroni - a dressage riding instructor  - who comes to Vancouver Island twice yearly from Portugal. I recently visited his equestrian facility in Portugal to train on his superbly schooled Lusitanos. Horse riding is my number one sport, followed by skiing, and then golf. This weekend also includes two evenings of hitting golf balls at Velocity. 
 
I am thankful for my good health, my children and my family. And thankful for all of my wonderful clients. Thank you for choosing me, trusting me and recommending me. On Friday, I received a letter from Remax stating I was listed amongst the top 100 Realtors in Western Canada. I was in shock when I read the letter. Thank you to my assistant Annette, Chris for his fantastic photos and movies of the properties that I list for sale, the support of the Remax brokerage and my Managing Broker Dan Samson. I would not have achieved this without you. My warmest and best wishes to all. Happy Thanksgiving.
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Sales of single-family homes in the VIREB area rose by 20 per cent month over month in April but remained static from one year ago.

 

Last month, 476 single-family homes sold on the Multiple Listing Service® (MLS®) System compared to 398 in March and 476 one year ago. The number of apartments changing hands in April decreased by six per cent year over year while townhouse sales rose by 26 per cent.

 

VIREB’s inventory of single-family homes climbed by eight per cent from March 2018 but decreased by six per cent from one year ago. The supply of apartments dropped in April, down 12 per cent from one year ago, but townhouse inventory rose by 30 per cent.

 

The British Columbia Real Estate Association (BCREA) reports that housing sales in many B.C. jurisdictions are down compared to last year. Guideline B-20 and uncertainty surrounding new provincial taxes appear to be taking their toll on sales in some markets.

 

Broadening the scope of the Foreign Buyer Tax to include the Regional District of Nanaimo (RDN) should not have a significant impact on the VIREB housing market. Only 4.4 per cent of RDN residential real estate transactions in 2017 involved foreign buyers. More troubling is the new speculation tax, which is supposed to be implemented later this year. The tax will apply to Nanaimo and Lantzville, but it will take a few months to see whether it has a detrimental impact on sales.

 

BCREA also expects the Bank of Canada to increase interest rates in the next couple of months, which introduces another risk factor into the housing market.

 

For now, however, demand is still outpacing supply in the VIREB area, particularly in some price ranges. Properties in the $300,000 to $500,000 range generate multiple offers and sell quickly. However, higher-priced homes are taking longer to sell.

 

Janice Stromar, 2018 Past President, encourages sellers to take advantage of our current market conditions before any economic headwinds weaken demand.  “Our market has favoured sellers for a long time now, but it won’t last forever,” says Stromar. “However, even in a sellers’ market, you need to price your home correctly because overpriced homes take longer to sell.”

 

In April 2018, the benchmark price of a single-family home in the VIREB area reached $499,600, up 18 per cent from one year ago. (Benchmark pricing tracks the value of a typical home in the reported area.) The benchmark price of an apartment last month rose to $305,300, up 25 per cent board-wide from the previous year, while the benchmark price of a townhouse hit $393,200, a 22 per cent increase from April 2017.

 

Last month, the benchmark price of a single-family home in the Campbell River area climbed to $410,000, an increase of 22 per cent over April 2017. In the Comox Valley, the benchmark price reached $487,100, up 17 per cent from last year. Duncan reported a benchmark price of $444,700, an increase of 17 per cent compared to April 2017. Nanaimo’s benchmark price rose 16 per cent to $537,800 while the Parksville-Qualicum area saw its benchmark price increase by 18 per cent to $562,800. The cost of a benchmark home in Port Alberni reached $282,000, up 24 per cent from one year ago. 

 

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Spring glorious Spring. Lovin’ the sunshine. When I pull into my driveway, I can see the weeds in my garden beds and gravel areas poking through and getting a head start on me. The Spring market is upon us and now I am too busy to weed.

 

Campbell River’s real estate continues to be plagued with low inventory. If there were more listings, there would be more sales. Which best explains why sales are down from last year. There simply is not enough supply to satisfy demand:

 

  • In the 12 months ending April 30th, 2018 there have been 1047 sales of all property types in Campbell River, down 7% over the same period in 2017.  The highest number of annual sales was 1181 in 2007.

 

  • The 12 month average sale price of a Campbell River home is $417,096, up 15%.  The average lot price is $188,239, up 35%. (The 16 lot sales in April only averaged $228,828 so you can see where this is going!) If you purchased an ‘average’ home in 2008, you paid $315,252.  If you bought an average lot, you paid $111,479.  

 

  • YTD in 2018, 37 houses per month have sold compared to the all-time high in 2016 of 59 houses per month.  In 2017, 55 houses per month sold. In 2016 – 59, in 2015 – 45, in 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 2017, houses sold in 42 days for 98% of asking price and the annual list/sell ratio (LSR) was 84%.  In April, 2018 the LSR was 76% and houses sold for 116% of asking price in 20 days. 

 

  • Residential sales occurred in Willow Point – 37%, Campbell River Central – 36%, followed by Campbell River South - 14%, Campbell River West – 12%, Campbell River North – 3%. There was one sale in Campbellton.

 

 

  • There are 108 homes currently for sale, a 2½ month supply. Houses make up 78% of the 152 residential properties currently offered for sale.  Condos are 18%, duplexes – 2%, mobile homes - 1%.  The active inventory of all properties is 248, down 20%.

 

  • Contrast the shortage of strata properties in Campbell River as a percentage of all residential properties – 18% - to the Comox Valley – 32%.

 

  • The largest house price differential in April, 2018 was between Willow Point where the average price was up 21% ($455,068) and Campbell River South where the price was down 16% ($380,162).

 

  • YTD only four houses have sold under $200,000, compared to 20 in all 2017 and 45 in 2016.  In 2015, 41 houses sold for less than $200,000. In 2014 – 48, in 2013 – 59, in 2012 – 52, in 2011 – 56, in 2010 – 36.

 

  • YTD sales over $500,000 represent 24% of the Campbell River market compared to 20% in 2017 and 9% in 2016.

 

  • YTD 2018 the SFD median price (half sales above, half below) is $409,000.

 

  • When 10 houses sell in Campbell River, one is under $250,000, two sell between $250,000 and $350,000, five between $350,000 and $500,000 and two above $500,000.

 

  • There are 96 REALTORS® in Campbell River among the 1070 members of the Vancouver Island Real Estate Board.

 

Please don’t hesitate to contact me if you would like an evaluation on your current home.
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2017 was a fast paced market, allowing for my high-energy optimistic personality to bounce from property to property and sell a city that is hands down unbeatablvalue.

 

A huge shout out and sincere thank you to all my valued clients! In total, 60 awesome savvy Sellers chose me as their listing Realtor and I closed 80 transactions. The average transactions per Realtor was 6. It was a great challenge and I had a heck of a fun time. Thank you to my incredible team: Chris for the awesome photos/movies/digital content, Annette performing her magic with any and every admin task that I send her way, Glen for placing the For Sale signs up and then down once sold, and Remax Check Realty’s amazing management and admin support staff.

 

Stepping into 2018 with enthusiasm and given the nature of a career in sales I never know what is going to happen each day and take it in my stride and say:

 

This epic day

Do not underestimate what she can do

Give thanks to her as you make your way

Give thanks to the power and the kindness

Of this precious living day.

 

May 2018 be a fantastic year for you. Please don’t hesitate to mention my name if you hear of anyone thinking of Buying or Selling.

 

  • In 2017 there were 1074 sales of all property types in Campbell River, down 5% over 2016.  The highest number of annual sales was 1181 in 2007.
  • The 2017 average sale price of a Campbell River home is $407,174, up 18%.  The average lot price is $150,108, up 8%. If you purchased an ‘average’ home in 2007, you paid $297,046.  If you bought an average lot, you paid $110,935.  
  • In 2017, 55 houses per month sold compared to the all-time high in 2016 of 59 houses per month.  In 2015, 45 houses a month sold, in 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 2017, houses sold in 42 days for 98% of asking price and the annual list/sell ratio (LSR) was 84%. In a year end rush of sales and shrinking supply, the LSRs in November and December were 123% and 107% respectively.  In 2016, houses sold within 56 days for 99% of asking price.  The LSR was 84%. 
  • In 2017, residential sales occurred in Willow Point – 42%, Campbell River Central – 35%, followed by Campbell River South - 10%, Campbell River West – 7%, Campbell River North – 4% and Campbellton – 1%. There are only 73 homes for sale, less than a six week supply.
  • Houses make up 63% of the 138 residential properties currently offered for sale.  Condos are 31%, duplexes – 4%, mobile homes – 2%.  The active inventory of all properties is 212, down 27%.
  • The largest house price differential is between Willow Point where the 2017 average price is up 20% ($427,710) and Campbell River Central where the price is up 17% ($395,907).
  • In 2017, 20 houses sold for less than $200,000 compared to 45 in 2016.  In 2015, 41 houses sold for less than $200,000. In 2014 – 48, in 2013 – 59, in 2012 – 52, in 2011 – 56, in 2010 – 36.
  • In 2017 there were 136 residential sales over $500,000.  In 2016 there were 63 residential sales over $500,000 representing 9% 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. The 2017 median price (half sales above, half below) is $391,000.
  • When 10 houses sell in Campbell River, one is under $250,000, three sell between $250,000 and $350,000, four between $350,000 and $500,000 and two above $500,000.
  • There are 96 REALTORS® in Campbell River among the 1057 members of the Vancouver Island Real Estate Board.
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Wishing all happy and restful Christmas and New Year holiday season.  

 

We have plans to ski at Mt Washington and to also take it easy watching movies, playing games, crafts and reading. We get busy during the year with work, school and sports that it’s home time that we crave the most. On Christmas day, my younger brother Justin flies in from Australia. Hopefully his plane is able to land as snow is on the forecast. 

 

2017 proved to be an incredible year for our growing city, Campbell River 

 

The British Columbia Real Estate Association (BCREA) noted that the housing market in B.C. thrived due to strong economical fundamentals, such as robust residential sales, job growth, and population growth. British Columbia’s economy continued to lead the country, with GDP in 2018 expected to hit 3.8%. Government policy decision, including slightly higher interest rates and the new mortgage stress test, could affect the housing market in 2018, but it is too early to say in what way. I will continue to keep you informed each month with ongoing newsletters and fast facts. 

 

I sincerely thank you for making 2017 my best sales year ever. Thank you for choosing me, thank you for recommending me. I love what I do, and truly enjoy helping the great people that work with me to buy and sell. What are your plans for Christmas and the New Year? I look forward to hearing your news. 

 

Real Estate Fast Facts on Campbell River 

 

  • The 12 month average sale price of a Campbell River home is $405,456, up 18%.  The average lot price is $148,817, up 7% from 2016. If you purchased an ‘average’ home in 2007, you paid $297,046.  If you bought an average lot, you paid $110,935. 

 

  • Apartment condos are the largest segment of the local strata market. In 2007 the average price was $191,746.  In the 12 months ending November 30th, 2017, the average price is $222,148 up 33% from the same period in 2016. 

 

  • There are 27 patio homes currently for sale, the largest inventory of strata properties. The YTD average selling price is $352,214 up 17%. Townhouses are the scarcest strata, only 4 on the market with an average price of $197,165, up 20%. 

 

  • YTD in 2017, 57 houses per month have sold.  In 2016, 59 houses per month sold, an all-time high.   

 

  • In 2016, houses sold in 56 days for 99% of asking price and the list/sell ratio (LSR) was 84%. Currently, houses sell in 27 days for 99% of asking price and the LSR for November was 123%! What this means is that for every 10 houses listed, 12.3% sold resulting in further dwindling of the existing inventory.    

 

  • YTD 2017, residential sales have occurred in Willow Point – 42%, Campbell River Central – 36%, followed by Campbell River South - 9%, Campbell River West – 7%, Campbell River North – 5% and Campbellton – 1%. There are 89 homes for sale, less than a two month supply.  

 

  • Houses make up 60% of the 169 residential properties currently offered for sale.  Condos - 33%, duplexes – 5%, mobile homes – 2%.  The active inventory of all properties is 255, down 25%. 

 

  • The largest house price differential is between Willow Point where the 12 month average price is up 22% ($427,710) and Campbell River Central where the average price is up 16% ($381,929).  

 

  • YTD 2017 20 houses have sold for less than $200,000.  In 2016, 45 houses sold for less than $200,000.   

 

  • YTD 2017 there have been 133 residential sales over $500,000, including four over $1 million, representing 21% of all residential sales.  In all 2016 there were 63 residential sales over $500,000 representing 9% of all residential sales.  The 12 month median price (half sales above, half below) is $390,000. 

 

  • From Building Links:  Construction has started on Phase I of Seymour Pacific’s 70-unit, multi-family development at 525 Dogwood Street South in Campbell River. A building permit was issued in October with a value of $4.2 million. The developer is constructing a four storey building on the east side of Dogwood Street South directly south of the Merecroft Village Landmark Cinema. 

 

  • When 10 houses sell in Campbell River, one is under $250,000, three sell between $250,000 and $350,000, four between $350,000 and $500,000 and two above $500,000. 

 

  • There are 98 REALTORS® in Campbell River among the 1051 members of the Vancouver Island Real Estate Board. 

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2017 has proved to be an unrelenting hot market for Campbell River - plagued with low inventory, buyers running at new listings at break neck speed in their PJs with coffee in hand, and multiple offers pushing the sale price up to $58,217 above list price (as was the outcome for 384 Hilchey Road where 7 competing buyers turned up to the Nanaimo court house to battle it out on a foreclosure) 


I have been sprinting to keep up with the market - to help successful buyers get an accepted offer. You have to run and get there before everyone else jumps on it. I have turned up to appointments in horse riding clothes and gym clothes. Fortunately not my PJs though. There is honestly not enough time to change into my work clothes sometimes. I’ve stopped apologizing for it. It’s my new reality. 


When should I sell? Is it a good time to buy? Will the market continue like this? For how long? Where are the buyers coming from? Will the lending regulations effective January 1st have an impact on market value?  


Please don’t hesitate to contact me. Let me know if I can advise you on the market value of your property that you intend to sell, and as a buyer to double check the market value of the property you hope to purchase. Hope is the key word here. Working with a good realtor who can alert you to new listings as they come onto the market, or even better to alert you prior to a new listing appearing on MLS, will give you a competitive advantage.  


The following fast facts are a summary of October MLS stats. If you would like a copy of the accompanying spreadsheets and an overview of the upcoming lending regulations please reply “YES PLEASE” and I will be happy to email those to you. 


A huge thank you! to past clients love your recommendations. Keep them coming. I look forward to your reply and hearing your news. 


FAST FACTS on Campbell River October 2017: 

 

  • In the 12 months ending October 31st, 2017 there were 1071 sales of all property types in Campbell River. The highest number of annual sales was 1181 in 2007.  

 

  • The 12 month average sale price of a Campbell River home is $398,751, up 16%.  The average lot price is $147,349, up 5% from 2016. If you purchased an ‘average’ home in 2007, you paid $297,046.  If you bought an average lot, you paid $110,935. 

 

  • Apartment condos are the largest segment of the local strata market. In 2007 the average price was $191,746.  YTD in 2017, the average price is $218,566 up 31% from the same period in 2016. 

 

  • There are 32 patio homes currently for sale, the largest inventory of strata properties. (Compare to the Comox Valley where there are only 9!)  The YTD average selling price is $355,378 up 18%. 

 

  • YTD in 2017, 57 houses per month have sold.  In 2016, 59 houses per month sold, an all-time high.   

 

  • In 2016, houses sold in 56 days for 99% of asking price and the list/sell ratio (LSR) was 84%. Currently, houses are selling in 37 days for 98% of asking price and the LSR for October was 98%.    

 

  • YTD 2017, residential sales have occurred in Willow Point – 42%, Campbell River Central – 36%, followed by Campbell River South - 10%, Campbell River West – 7%, Campbell River North – 4% and Campbellton – 1%. There are 105 Single Family Dwellings (SFDs) for sale, less than a two month supply.  

 

  • Houses make up 65% of the 189 residential properties currently offered for sale.  Condos - 32%, duplexes – 2%, mobile homes – 2%.  The active inventory of all properties is 283, down 22%. 

 

  • The largest house price differential is between Willow Point where the 12 month average price is up 20% ($419,670) and Campbell River Central where the average price is up 17% ($375,538).  

 

  • YTD 2017 17 houses have sold for less than $200,000.  In 2016, 45 houses sold for less than $200,000.   

 

  • YTD 2017 there have been 114 residential sales over $500,000, including three over $1 million, representing 20% of all residential sales.  In all 2016 there were 63 residential sales over $500,000 representing 9% of all residential sales.  The 12 month median price (half sales above, half below) is $380,000. 

 

  • When 10 houses sell in Campbell River, one is under $250,000, three sell between $250,000 and $350,000, four between $350,000 and $500,000 and two above $500,000. 

 

  • There are 104 REALTORS® in Campbell River among the 1082 members of the Vancouver Island Real Estate Board. 

 

Would you like me to email you the accompanying spreadsheets and lending regulations? 

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In 2016, Campbell River’s Real Estate market churned out a record breaking performance. The average price of a single family home increased over the past twelve months by $25,443, with an average of $344,450 by December 31st, 2016. Properties sold on average for 99% of list price within 56 days on market.

 

The baby boomer migration to Vancouver Island is well underway. Dan Samson, Managing Broker at Remax Check Realty, aptly calls it “the Grey Tsunami” and this trend has legs to continue for many years to come.

 

In total, Campbell River saw 654 single family homes sold, up 34% from 2015’s total of 489. The Sell/List ratio rapidly rose to 84% - that is for every 10 units listed, 8.4 of them sold - leaving Campbell River with a jaw-dropping year end inventory of only 94 listings. The lowest seen since the 1990s.

 

Campbell River’s prized house plans were ranchers and patio homes, preferred by retirees who make up 62% of the market.

 

Patio homes sales thundered down the track and into the home stretch. Year to date sales increased by 114% with the average sale price per unit rising by 29% and selling on average for 101% of list price. If you bought a patio home in 2016 you paid an average of $302,954.

 

Buyers researched their way up Island and compared value. The average price of a single family home in Duncan was $389,900, Nanaimo $447,300, Qualicum $482,500, Comox $413,500 and by the time they arrived at Campbell River the decision was made to purchase into our community with an average of $344,500. Just to magnify that statistic - the same house in Comox costs you approximately $68,000 more and in Qualicum $138,000 more. The average price of a lot in Campbell River is $139,200, basically the same amount of additional purchasing power you’d need to buy into Qualicum as compared to Campbell River.

 

Stepping into 2017, the trend of diminishing inventory is casting a fast approaching storm cloud over Vancouver Island, with savvy Buyers making a fast run of it seeking cover via the purchase of property. Campbell River’s builders are doing their best to pump out new inventory with 304 permits issued out of City Hall in the past twelve months, up 56% from the pervious year. DHW Construction Ltd and Osha Construction Ltd are quality builders leading the pack with single family home sales, and NVH Homes leads the pack with patio home sales.

 

Buyers prefer south of town, with 42.4% of sales occurring in Willow Point which is approximately an eight minute drive from the down town core. In December, Jubilee Estates sold out of developed lots, and Maryland Estates only has 3 lots remaining at time of sending out this newsletter. Both of these premier subdivisions will release their final phases in 2017 - it will be a bull rush to secure a lot as some buyers are already trying to reserve their preferred choice.

 

2016 was a fast paced market, allowing for my high-energy optimistic personality to bounce from property to property and sell a city that is hands down unbeatable value.

 

A huge shout out and sincere thank you to all my valued clients! In total, 60 awesome savvy Sellers chose me as their listing Realtor and I closed 89 transactions. The average transactions per Realtor was 10. It was a great challenge and I had a heck of a fun time. I step into 2017 with enthusiasm. Please don’t hesitate to mention my name if you hear of anyone thinking of Buying or Selling. May 2017 be fantastic for you too!

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I’m honoured for my business to be named a nominee for the Campbell River Chamber of Commercie 2016 Business Awards of Distinction.  The winner will be announced October 1st.  Chris Baikie (photography & film), Angela Stone (Unlicensed Assistant) and myself combine our expertise to bring our clients trusted support when buying and selling property.  A big thank you to our past and current clients, without you this nomination would not be possible. 

 

Campbell River’s real estate market continues to perform:

              

  • In the 12 months ending July 31st, 2016 there were 1007 sales of all property types in Campbell River, up 28% 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 $330,190 up 6%.  The average lot price is $137,379 up 4%. 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 62 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 July, 2016, houses sold in 62 days for 109% of asking price and the LSR was 97%.
  • YTD 2016, residential sales occurred in Willow Point – 44%, Campbell River Central – 31%, followed by Campbell River West – 10%, Campbell River South - 10%, and Campbell River North – 6%. The single family dwelling inventory is down 33%.
  • Houses make up 68% of the 336 residential properties currently offered for sale.  Condos are 26%, duplexes – 4%, mobile homes – 1%.  The active inventory of all properties is 494, down 33%.
  • The largest single family home price differential is between Campbell River West where the YTD average price is up 20% ($384,481) and Campbell River South where the YTD price is up 5% ($332,238).
  • YTD 2016, 30 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 35 residential sales over $500,000, including three sales over $1,000,000, representing 8% 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 $315,500.
  • From Building Links:  for the first half of 2016 as expected, construction statistics of new single family homes are up significantly compared to the same time last year, an increase of 51% for the region of Comox, Courtenay, Cumberland, the CVRD and Campbell River.
  • There are 95 REALTORS® in Campbell River among the 1029 members of the Vancouver Island Real Estate Board
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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

 

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While the temperature rises, so too does property values in Vancouver and Victoria.  The trickle effect has made its way to Campbell River, as per the fast facts outlined below.

  • In the 12 months ending April 30th, 2016 there were 911 sales of all property types in Campbell River, up 20% 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 $320,309 up 4%.  The average lot price is $138,218 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, 48 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 2015, houses sold within 70 days for 96% of their asking price.  The list/sell ratio was 62%.  Currently, houses are selling in 59 days for 98% of asking price and the list/sell ratio is 64%
  • YTD 2016, residential sales occurred in Willow Point – 46%, Campbell River Central – 30%, followed by Campbell River South - 10%, Campbell River West – 9% and Campbell River North – 6%. 
  • Houses make up 68% of the 380 residential properties currently offered for sale.  Condos are 27%, duplexes – 3%, mobile homes – 3%.  The active inventory of all properties is 559, down 19%.
  • The largest single family home price differential is between Willow Point where the YTD average price is up 5% ($321,879) and Campbell River Central where the YTD price is down 10% ($290,825).
  • YTD 2016, 15 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 14 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 $307,900.
  • From Building Links - 2016 First Quarter Construction Statistics —  Overall construction of single family homes has increased in Comox, Courtenay, CVRD and remains stable in Campbell River, and down significantly in Cumberland, by -47%. The total number of new homes that started construction in January, February and March of 2016 is 65 compared to 52 in 2015, an increase of 25%. Overall construction statistics are down considerably, due to the fact that both of the hospitals were started in 2015. There seems to be an upswing in construction of duplex and patio style homes as well as secondary suites. Overall construction values for the first quarter of 2016 are $37,224,848.
  • There are 103 REALTORS® in Campbell River among the 977 members of the Vancouver Island Real Estate Board.

 

The upswing property market in Campbell River has legs to last for many years as the baby boomers migrate from the mainland to Vancouver Island.

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No doubt you’ve heard about what’s happening to the real estate market in Victoria and Vancouver - multiple offers and headlines reporting sales for a million plus over list price. Campbell River’s property market is heating up too, but rather than taking the stride of a sprinter we have a healthier marathon runner approach. Slow and steady reduction of inventory thus creating a slow and steady upward adjustment of prices.  A healthy positive market with legs to continue in that direction for the long term.

 

The baby boomers are coming to Vancouver Island and Campbell River is holding its head proudly as a favored final destination for active retirees. In 2014, 44% of sales in Campbell River were for retirement purposes. We have the new hospital underway with the roof, siding and windows installed, plus the BC Hydro billion dollar upgrade preparing for 300 trades to arrive and work on the finishing. Both projects are excellent draw cards that see Campbell River providing excellent amenities for the community well into the future.

March 2016 proved to be the distinct turning point for the whole of Vancouver Island. Nanaimo sales were up 26% from March 2015, with a whopping 9 out of every 10 new listings selling. Qualicum/Parksville sales were up 24%, with 7.5 of every 10 new listings selling. Comox sales were up 38%, and Campbell River sales were up 35% with 7.2 of every 10 new listings selling.

 

If you are buying in Nanaimo good luck as the inventory levels are desperately low and reduced by a further -6.2% from February to March. If Nanaimo closed the door on new listings on March 31st and did not list another property there would be only 1.7 months of inventory remaining to satisfy buyer demand. Qualicum/Parksville is in a similar low inventory situation with only 2.3 months of inventory remaining to satisfy buyer demand.

 

Welcome to Campbell River and our ability to provide affordable land to build your new 3 bed 2 bath rancher on.  The average price of land in Campbell River is $129,900, in Comox $171,000, Qualicum/Parksville $190,000 and Nanaimo $159,900.  In March 2016 compared to March 2015, sales of land in Campbell River tripled. Take a drive through Jubilee and Maryland Estates and you’ll see machines digging like crazy. New construction has made a come back and local builders are grinning from ear to ear.

 

With a great sigh of relief for sellers, the strata market in Campbell River has found its legs again. March 2016 saw apartment sales almost triple and up 160% from March 2015. The sell/list ratio shot to 118% which means we sold more than what was listed that month and the inventory levels reduced by 7%. In 2015, the average days to sell was 156 compared to an average of 63 days to sell in March 2016.  The median price of a strata apartment in Campbell River is $129,000, Comox $149,000, Qualicum/Parksville $177,000 and Nanaimo $208,400.

 

I love a busy market - hoping from one sale to another like a little grasshopper yippee. Thank you for your trust, loyalty and recommendations!

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Happy New Year! With 2015 behind us, I always like to step into a new year reflecting on the year that was. I enjoyed sending out my monthly newsletters, analyzing Campbell River's real estate market plus updates on economic activities beyond the real estate front. 

 

2015 proved to be onwards and upwards on all accounts and below you will find my summary of the past 12 months. 

 

Campbell River is a great place to live with a wonderful community. I am grateful for the support and trust that the community extends to me and thank you for choosing me to represent you and recommending me to family, friends and co-workers. Last year, I assisted 68 clients in completed transactions. 46 sellers chose me to list and sell their home, when the average listings per agent is 8. I am extremely grateful and account my success to the quality of the relationships that I have with my clients, the support of my brokerage Remax Check Realty, my assistant Angela Stone for her hard work, friendship and accepting anything and everything that I send her way, and Chris Baikie for his brilliant photos, movies and digital support. Being at the forefront of technology and communicating digitally to potential buyers is key to my marketing. 

 

I look forward to working together in 2016. Please do not hesitate to ask me any questions you may have at any stage. Keep the recommendations coming.  My best wishes to you on a personal front for 2016. May it be epic.

 

Some December Fast Facts:

 

  • In the 12 months ending December 31st, 2015 there were 799 sales of all property types in Campbell River, up 2% over 2014.  The highest number of annual sales was 1181 in 2007.

 

  • The 12 month average sale price of a Campbell River home is $318,670 up 5%.  The average lot price is $134,828 up 7%. If you purchased an ‘average’ home in 2006, you paid $265,602.  If you bought an average lot, you paid $103,171.

 

  • 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 2015, houses sold within 70 days for 96% of their asking price.  The list/sell ratio was 6%.

 

  • In 2015, residential sales occurred in Willow Point – 45%, Campbell River City – 33%, followed by Oyster River North - 10%, Quinsam/Campbellton – 8% and Campbell River North – 4%.

 

  • Houses make up 63% of the 291 residential properties currently offered for sale.  Condos are 32%, duplexes – 2%, mobile homes – 3%.  The active inventory of all properties is 485, down 14%.

 

  • The largest single family home price differential is between Willow Point where the 2015 average price is up 8% ($336,149) and Quinsam/Campbellton where the price is down 4% ($278,967).

 

  • In 2015, 41 houses sold for less than $200,000. In 2014 there were 48.  In 2013 – 59, in 2012 – 52, in 2011 – 56, in 2010 – 36, in 2009 - 67.

 

  • In 2015 there were 40 residential sales over $500,000, representing 7% of the total sales.  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 $305,000.

 

  • There are 101 REALTORS® in Campbell River among the 972 members of the Vancouver Island Real Estate Board.

 

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Real Estate Fast Facts on Campbell River

 

  • In the 12 months ending October 31st, 2015 there were 774 sales of all property types in Campbell River, down 1% 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 $313,934 up 3%.  The average lot price is $135,079 up 11%. 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.)
  • In October, houses sold within 75 days for 95% of their asking price.  The list/sell ratio was 69%. 
  • 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 64% of the 414 residential properties currently offered for sale.  Condos are 30%, duplexes – 3%, mobile homes – 3%.  The active inventory of all properties is 645, down 8%.
  • The largest single family home price differential is between Willow Point where the 12 month average price is up 6% ($328,480) and Quinsam/Campbellton where the price is virtually unchanged ($284,856).
  • YTD 2015, 37 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 $303,000.
  • From Building Links:  Construction values were up by 121% during the third quarter of 2015 compared to 2014, mostly due to construction of the new hospitals in Campbell River and Courtenay and the John Hart Dam generating station replacement project. Total values this quarter were $274 million compared to $123 million last year. The detailed design is nearly complete for the City of Campbell River water supply project. The first of two tender packages for this project is expected to be released in December or January. Construction will be done in two phases, beginning with the lake intake in February of 2016, followed by the pump station and treatment building to begin in August of 2016. Tenders for the pump station are expected to be issued in February of 2016.
  • There are 98 REALTORS® in Campbell River among the 968 members of the Vancouver Island Real Estate Board.

 

Statistics from VIREB and Building Links, October 31st, 2015

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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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