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


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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Many major projects are underway here in Campbell River.


Here is a look at some of the major projects that have been completed this past year or are in the works for 2015:

Seymour Pacific’s Head Office officially opened its doors in the fall of 2014.  With its West Coast inspired design, rain gardens, water feature and 200+ employees, the down town core is enjoying the benefits.

Berwick By the Sea Residences is a prestigious retirement community that completed construction in 2014 and started moving in occupants this past fall. 


The new Comfort Inn is the latest building to be added to our downtown.  Located beside Berwick Residences, the 4 story hotel is making the most of its close proximity to the ocean, planning on most of the 55 units featuring an ocean view.  Plans include an indoor pool, fitness room, a business centre and two meeting rooms.


The New Hospital broke ground in 2013.  To date, the concrete foundation is being poured and two cranes have been moved on site to begin constructing the walls.  Wanting to hire as many local workers as possible, the Chief Project Office of the build has partnered up with the Director of Program Standards with the Industry Training Authority of BC, North Island College and North Vancouver Island Aboriginal Training Society.  They have teamed up to create a plan with NIC on creating programs to address hiring needs, including improving some shorter-term certificates such as first aid training, dry walling, general labour training, and adding programs like the Constructing Craft worker.


New Horizons Residential Care Facility has been chosen by Island Health to build a new wing, adding forty new publicly funded beds and five new private pay beds.  Twenty of the publicly funded beds will deliver licensed dementia care and twenty will deliver more complex care services.  This will make a total of 126 residential care capacity beds and 13 private pay beds.  Construction is slated to begin in 2015, is expected to take 21 months, with the wing opening in 2017.


BC Hydro Projects:

  • $1 billion John Hart Hydro Project – Construction continues on the upgrade and overhaul of the generating station.  Ground blasting is rumoured to be starting soon and January to March should see the continuation of site prep and tree falling.  Managers hope to see a 90% local hire rate in the coming year.
  • Seismic Upgrades to the John Hart and Strathcona Dams will start as the Generating station work closes.  This project is another major undertaking and is expected to cost in the hundreds of millions.
  • Upgrading the local Distribution Grid is another Hydro project just announced.  Noticing that the grid currently serving Campbell River is nearing capacity due to Campbell River’s growth, Hydro plans on spending $25 million to increase supply to local customers.  The upgrade also ensures that there will be enough capacity for further future growth in residential and commercial development.  Combined with the other major projects, BC Hydro estimates it will be working in Campbell River for at least the next 20 years.
  • BC Hydro’s New Office at Quinsam Crossing officially opened and staff moved out of the 40 year old office into the new building earlier this month.


Quicksilver LNG Plant has Campbell River anxiously waiting to hear more news.   Already starting its reclamation project of the old mill site, this is potentially a multi-billion dollar project.  With several LNG projects moving ahead across the province (ExxonMobil proposed plant in Prince Rupert, Woodfibre LNG in Squamish & Shell-led LNG Canada proposal in Kitimat), Campbell Riverites remain hopeful that positive news is headed our way.


The New Mayor, Andy Adams is clear on his agenda on making positive economic changes in Campbell River.  His first objective is to revive the forestry industry in Campbell River and has already resurrected the Future of Forestry Task Force, choosing former mayor Charlie Cornfield to lead it.  The task force’s aim is to rejuvenate the industry and attract forestry businesses into Campbell River, working closely with forest-related companies in Campbell River and Vancouver Island.  One main goal of the task force will be to establish a community forest in Campbell River.  Community forests are located on provincial land and leased by a community for 25 yrs with a renewable option every 10 yrs.  This community forest could be a positive source of revenue for the city and also be a working lab for expanded forestry related programs at North Island College.


Elk Falls Suspension Bridge, is a $650,000 venture started by the Rotary Club.  With some help from BC Hydro, construction started earlier in 2014 and everyone involved is hoping it will be open in the spring or fall of 2015.  The bridge will stretch 64 meters and hover 65 meters over the falls.  Also being constructed are two new viewing platforms and a new 80 stall parking lot.


Campbell River is a hive of activity; I’ll keep you posted as more major projects are announced!

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Each month the Vancouver Island Real Estate Board (VIREB) generates statistical data based on Multiple Listing Service (MLS) activity. Campbell River is broken down to five sub areas: Campbell River North, Quinsam/Campbellton, Campbell River City, Willow Point and Oyster River North.


Over the past three years, Campbell River’s single family home sales demonstrated solid gradual upward growth.

In 2014, 855 single family homes were listed in Campbell River with 512 sold. That’s a 12% increase from 2013’s sales. The majority of sales occurred in Willow Point (41.8%). The remaining occurred in Campbell River City (36.8%), Oyster River North (11.4%), Quinsam/Campbellton (6.7%) and Campbell River North (3.4%). The average price of a home in 2012 was $287,037, in 2013 it rose to $293,037 and in 2014 it continued upwards to $303,453. If you’re a first time homebuyer or investor, and did not snap up a property in the past three years, your hesitation has cost you.


In 2012, single family homes on average sold for 95% of list price with an average of 82 days on market to sell. Sellers were able to breathe easier in 2013, gaining upwards to 97% of list price and shortening to 68 days on market to sell. The past twelve months displayed a similar steady performance with sellers receiving on average 96% of list price with an average of 76 days to sell. Inventory is tightening, only slightly downward by -6.9% at year end, however it’s enough to flash a green light at buyers to hustle to make a purchase if they have not already. With the continued trend of increasing sales and shrinking inventory, further upward pressure will be applied on prices.


In 2014, the hottest single family home price range was $200,000 to $350,000. Breaking it down, 115 homes priced $200,000-$250,000 sold, 122 homes priced $250-000-$300,000 and 128 homes priced $300,000-$350,000.


A mistake is to presume this trend applies to all sectors of the market, such as bare land, patio homes, strata apartments, high end homes, acreages and waterfront. I’ll discuss these sectors further in the coming weeks. It’s in your best interest to seek guidance from a Realtor® in this changing market.

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With the average price of a homes in Campbell River rising and inventory shrinking, the occurrence of multiple offers becomes more frequent. A multiple offer situation is when more than one buyer makes an offer on the same property at the same time.


If you are a seller this is great news, having more than one person offering to buy your home creates a bidding war and the sale price should rise accordingly. If you are a buyer, the news is not so good.


When a multiple offer presents itself, the seller’s Realtor® should instruct you that you are now in a multiple offer situation, and will be given a chance to present your offer at a specified time with the other potential buyers. It should be made very clear by your Realtor® that the offer you present should be your best and final offer as you rarely get a counter offer from the seller in a multiple offer situation. If another offer is more appealing to the seller then the one you present, it is generally accepted outright and you need to look for another home.


How do you make your offer more appealing?

  •  Offer more money. Who doesn’t want more money? Don’t overextend yourself though, talk to your mortgage broker and get a ceiling price before you make an offer. If financing allows, be bold on the purchase price. The average price of a home is rising, so if you offer more than what you would have offered prior to it becoming a multiple offer, a year down the track after you’ve been living in the home and making memories with your family, do you really think you’ll regret the additional amount that ensured your offer was the chosen one? If you decide to blow the competition out of the water and offer substantially higher than list price, you are not the first one to do that. That approach is for the brave and bold. Each buyer is their own unique personality, and personality can influence the amount offered, despite guidance offered from their Realtor®. Some buyers will cringe at the chance to compete in a multiple offer and bow out of the race.
  •  Increase your deposit. A larger deposit shows the seller that you are a serious buyer.
  •  Keep your subject clauses simple. The less clauses, the better. Keep the subject removal dates as short as possible. Talk to your Realtor® about what clauses to use to keep you protected and in the running to buy the home you want.
  •  Make your completion and possession dates flexible. Generally the sooner the better, but be willing to adjust them to the seller’s needs if necessary. It’s ok for your Realtor® to ask the seller if there are dates that they would ideally prefer.
  • Get your Realtor® to ask the List Agent if the other buyers have any information that you don’t already have. Such as, what appliances the seller would be willing to be sold with the home. You don’t want to lose out on the sale because your offer asked for too many included items when the other offers did not. It’s a chance to sound out sellers needs and wants prior to submitting your offer.
  • Best not knock on the seller’s door and have a private chat. Can you imagine how upset you’d be if you heard the competing buyers did that to you? That type of unfair approach can become costly if lawyers get involved.


Remember, that you may only get one chance in a multiple offer situation. The final outcome is that there is only one winner. The disappointment can be quite staggering if it is not you.


If you want to avoid getting into multiple offer situations, get your offer accepted as fast as possible as soon as you know that property is the one for you. Submitting a lowball offer, in a rising market, only keeps your offer open unnecessarily allowing others to put an offer in while you are countering back and forth with the seller. It can also prejudice a seller against you if it becomes a multiple offer situation, particularly when your offer and another offer are very similar.

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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!




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Hi All, the property management department at Remax Check Realty has spread the word to the sales team:


"If anyone has buyers looking for investment properties, property management needs new inventory – we’re out of houses, esp. 4 + bedrooms and there’s increasing demand."


One more indicator amongst many that Campbell River's real estate market is upwards and onwards. 42% of Buyers purchasing homes in Campbell River live within the area. Of those, 40% are residents of Campbell River for less than one year. Buyers like to 'temp rent' and try out Campbell River before they buy. If the property management department is out of inventory, as a Realtor, that tells me there are a lot more buyers in the wood work.


Campbell River's property values are excellent compared to Vancouver Island as a whole. In February, the median price of a single family home was $294,355 and the median price of a lot was $104,000. When taking into consideration the economic boom projects such as the BC Hydro dam upgrade and the new hospital build, both in construction over the next five years. The incoming construction workers for these projects will require rental accommodation. 


Last week's top pick investment property 738 Beaver Lodge Road, mls # 370543, $284,900 zoned R1A with a legal 3 bedroom suite below.  Listed on Friday, March 7, it had an accepted offer on the very next day on March 8th.


This week's top pick investment property, Vanessa Hird’s 778 Beaver Lodge.  See the list below to see my other ‘stand out’ properties.  Let me know if you have any questions on any properties.


Strata Properties

401-322 Birch mls 370967

110-824 Isl S. Hwy mls 371064


Little Ranchers

78 Washington mls 364718

624 Niluht mls 370875


Suites and Suitable

1048 Galerno $313,900  mls 370922

331 Birch $228,800 mls 370878 (sold in 6 days)

975 Alder $267,700  mls 371096

555 Birch $289,900 mls 371372

361 Parkway $309,900 mls 370929

13-2033 Varsity Landing $339,000 mls 366428



361 Mclean $279,900 mls 371377

778 Beaver Lodge Rd $309,000 mls 369419

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Each month the Vancouver Island Real Estate Board (VIREB) generates statistical data based on Multiple Listing Service (MLS) activity. Campbell River is broken down to five sub areas: Campbell River North, Quinsam/Campbellton, Campbell River City, Willow Point and Oyster River North.


In 2013, 778 single family homes were listed in Campbell River with 457 sold. That’s an impressive 59% sell-to-list ratio compared to 2012’s 47% sell-to-list ratio. The majority of sales occurred in Willow Point (47.6%). The remaining occurred in Campbell River City (32%), Oyster River North (8.6%), Quinsam/Campbellton (6.6%) and Campbell River North (5.2%). The average price of a home in 2012 was $287,922 and in 2013 it rose to $293,037. If you’re a first time homebuyer or investor, and did not snap up a property in the past year, your hesitation cost you approximately $5,000. That’s a new roof or a holiday!


In 2013, the hottest single family home price range was $200,000 to $350,000. Breaking it down, 115 homes priced $200,000-$250,000, 118 homes priced $250-000-$300,000 and 107 homes priced $300,000-$350,000. The reigning queen house style was a rancher (with a minimum of 3 bedrooms and 2 bathrooms) with 165 selling from January 1st 2013 to December 31st 2013. A remarkable 36% of 2013s total single family home sales.


In 2012, single family homes on average sold for 95% of list price with an average of 82 days on market to sell. Sellers were able to breath easier in 2013, gaining upwards to 97% of list price and 68 days on market to sell.


If you purchased property in Campbell River in 2013, nice one! You deserve more than a pat on the back, you’ve earned a holiday!


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Where do Campbell River's buyers come from? MLS does an Island wide annual survey but as we know Campbell River is very different from Courtenay, Nanaimo, Parksville etc

At Remax Check Realty, when we sell a home we have to complete a survey about the buyer. Our admin department has been tracking our survey results since 2010. Here's Campbell River's results for 2012 in a snapshot:
- 42% of buyers are from within the Campbell River area, 24% of buyers are from elsewhere on Vancouver Island, other BC 9%, Alberta 9%, Vancouver 3% and Victoria 2.4%. It pays to market locally! But not necessarily in print, keep reading and see below
- Before their purchase, 40% of buyers have lived in the community for less than a year. Try before you buy!
- 49% of buyers purchase their home for retirement. Baby Boomer alert! In 2010 it was only 40% and 2011 43%
- 71% of the buyers purchase a single family home, 8% apartment condo, 6% patio home, 0.7% acreage with house

- 36% of buyers first become aware of a property by their Realtor bringing it to their attention, 34% the internet, 3% relative or friend, 12% signage, 7% mls catalogue, 2% newspaper (it's true, the Homefinder is typically where sellers shop for a listing agent, and the curious community check out what homes in their neighbourhood are going for. It's not necessarily the lift out guide for buyers. What's interesting is, Sellers are for the most, adamant about having their homes advertised in the local paper)
- 27% of buyers choose a Realtor recommended to them by a friend or family member (please don't hesitate to mention my name), 16% prior client, 8% out of town Realtor referral, 9% trawling the internet, 5% walking into the office.
As a Realtor I genuinely appreciate the collation of stats, it better directs my advertising and marketing, it's what helps me to know how to get my listings SOLD!

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Hey, g'day! New listing 2060 Willis has sparked my curiosity today! I had to jump in my car and take a drive by.... it's 3 acres of level land listed for $350,000 which got my mind crunching numbers as to what it should sell for. 

What's interesting is this area of town is fully serviced (including sewer, although it's not pedestrian friendly but that will change in a matter of time when new roads and footpaths go in, the residents are making enough noise about that issue at City Hall), it's got larger parcels of land that can be subdivided (not today, sit on it and in the future as the population growth demands), close to downtown and it's level so not much dirt to shift around which cuts development costs. Basically, the Petersen/Willis Road area is an opportunity to become a future mini developer ka-ching, OR sit on it (earn revenue by renting the improvements) and flip it to someone else who can be bothered developing).

When I drove by 2060 Willis there was an excavator tearing up the front drive from the road right to the junky trailer that's noted on the listing as being "too dangerous to enter". Hmm, broken water main maybe? A nearby resident said they're putting in water lines etc which doesn't make sense as that would already be in place...? I'll dig around for more info as that's pertinent to value, especially if it's being set up for two residences with separate access on the same piece of land.

The listing (mls 358904) also says there is a two bedroom home that is apparently "renovated from the outside in" and for the life of me I can't see it even when I drove around the outer edge of the property.

Fair Market Value? Here are some of the recent sales and listings I'd be taking into account when crunching numbers. Basically, my approach comes down to calculating the price per square foot (of the land) after I've shaved off the improvements of 1) the subject property and 2) each comparable; and then I tack the improvements back on to the subject 2060 Willis. To do this I'd need to view 2060 Willis and get some answers as to what he excavator was up to and the condition of the mysterious 2 bedroom renovated home. I'm viewing the subject property hopefully Monday morning.

Here's a couple of comparables:
- Shady Stables which is a boomerang throw away, sold last week for $680,000 and is 5 acres with a newer 3 bed 2 bath rancher and many horsey type outbuildings/improvements of value.
- A month ago, my husband Chris was involved with the sale of a 12 acre property on Petersen Road that has a larger two level home in fair/good shape (drive by and you can see the siding being replaced at the moment), which sold for high $800s.
At the top end of Shetland Road is 15 acres, currently for sale at $850,000 which includes a good condition renovated trailer.
It's actually a positive that the area is not currently pedestrian friendly otherwise these parcels of land would be going for way more.

Listed by Toni and Carol at Remax Check Realty, clickety click on the link or best take a drive by

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Looking to buy, sell, invest or just simply curious - it’s in your best interest to take the time to read my market snapshot outlined below.

Campbell River is on the move and the first quarter figures indicates it’s upwards and onwards.

May saw 56 homes sold, only 4 short of April’s record breaking 60. Which is a big improvement from April 2012 which saw 41 homes sold and May 2012 which saw 43 homes sold. June’s sales were 37, which continues to be better than June 2012 which saw 33 homes sold. Inventory of single family homes in June 2012 ballooned to 345, compared to 255 in June 2013. That is almost 100 less single family homes for buyers to choose from today. Demand is increasing; supply is shrinking. Out on the field we are experiencing buyers turning their attention to lots and new construction. Reason being, buyers are struggling to find what they want in the shrinking inventory of existing homes.

For now, prices are stable, however if this supply/demand trend continues the upward pressure will come. It’s already happening in some sectors of the market such as bare land.

Sales of lots doubled in May (14 units) compared to May 2012 (7 units). This growth continued into June as well, seeing 8 lots sold versus the 5 sold in June 2012. The median price of lots trended upwards from $94,000 in May up to $100,000 in June. The cheaper lots have sold, mostly snapped up by local builders in a rush to keep their construction costs down in a local market showing great signs of recovery. KLP Construction is rumoured to have purchased 30 lots in Discovery Plateau which is now sold out for the time being (phase 6 scheduled for release in 2014). Desolution Land Corp and NVH Homes are snapping up lots like hot cakes in Jubilee Estates (phase 4 is rumoured for release in a matter of weeks). Earlier this year, Ted Maxwell was selling Parkway Estates lots for $85,000 upwards; however in June the minimum price was raised to $118,900. In a nutshell, if you have a spare $25,000 and access to financing, contact Sarah as soon as possible.

Sarah are bare land and new construction specialists and are happy to share her top 5 best value lots to buy today.

Question: When is the best time to buy a lot, an investment property, build a new home, sell your current home so you can buy upwards into a higher price range?

Reply comment 'Today!'

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