June 2022 Comox Valley Real Estate Market Report

Dated: June 10 2022

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Hello! Just a short recap of the last 15 days in the local market.

There's been 32 pending sales. Thirteen of them went for list price or overlist price, which is 41% of the overall.

Days on Market is at 24.6, etching up ever slow slightly.

As for Inventory, last month is 1.8, or 82 average sales for the last 12 months. We need to double the number of active listings from May to put us in a balanced market.

I know there's a lot of doom and gloom out there, but at the end of the day, all real estate is local, and we have a long way to go before prices crash.


The Numbers on the Comox Valley Real Estate Market are just below, but first! 

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**The Numbers**

Comox Valley (Zone 2) MLS Single Family Stats for:

MAY 2022 (Compared to the same month last year)

New Listings 126 (108) 17.59% change

Reported Sold 80 (81) -1.23% change

Average Price $980,289 ($764,550) +28.22%change

Days to Sell 22 (18) -28.57% change

Sale Price/List Price 102.02% (103.48%)

Inventory 1.80 months (4-6 months is considered balanced)

MAJOR POINT - 41% of the pending sales (conditions removed, not yet sold) in the last 15 days will sell for listing price or over. The trend seems to be continuing with fewer offers being presented, however, we are still a long way from a balanced market.

MAJOR POINT 2 - If we had 300 active listings instead of 148 at the end of May (DOUBLE), we would be in a BALANCED MARKET (4.53 months of inventory). The intensity is slowing, but prices fall in Buyer's markets - and we have a long way to go to get there.

*Data from VIREB

*Single Family Units only, does not include acreage, waterfront, strata, modular, prefab properties

For an accurate estimate of your home's value and how to market it to its fullest potential, please contact me.

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Derek Kaufman

eXp Realty

203-335 Wesley Street

Nanaimo, BC V9R 2T5

Phone: 778-585-1424

Email: derek@derekkaufman.com

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Derek Kaufman

I’m an avid runner and love all things outdoors. I am a hardworking father of 2 daughters and a happy husband to my artistic and entrepreneurial wife, Jess. I am passionate about my work while alway....

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