Around Town: Apartment Condos are Selling (but!) for Less in the Comox Valley and in Campbell River
In the apartment/condominium sector, the average prices of properties are down; 14% in the Comox Valley and 18% in Campbell River. The analysis from Kutyn Appraisers indicates that the market in Campbell River is balanced; although the Sell/List ratio is 64% in the Comox Valley prices are falling in the Comox Valley.
A recent analysis from Kutyn Appraisers indicates that apartment condos are selling for less in the Comox Valley and in Campbell River.
The MLS statistics for the Single Family market in both areas have Sell/List ratios in excess of 60% pointing to a ‘sellers market’. It is noteworthy that the upward pressure on price appears to have been eliminated in the Comox Valley market; a 1% increase in the average price on 814 sales over the past 12 months. There has been upward pressure in Campbell River where the average price is up 5%.
Kutyn Appraisers
Phone: 250.890.3320
Website: http://www.kutyn.com/
Editors Note: This article was written by Christopher Kutyn
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