June Fast Facts

Posted July 26, 2016

June Fast Facts

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 30^th, 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.