Campbell River Home Values in February 2024

Avg Home Prices

Vancouver Island: $844,196 l North Island: $391,667 l Comox Valley: $947,555 l Cowichan Valley: $812,181 l Pacific Rim: $583,496 l Parksville & Qualicum: $1,064,865 l Nanaimo: $847,984 l Campbell River: $766,992 l Surrounding Islands: $580,000 l Chemainus: $620,000 l Cobble Hill: $872,500 l Cowichan Bay: $872,000 l Crofton: $653,000 l East Duncan: $823,850 l Honeymoon Bay: $809,750 l Ladysmith: $877,500 l Lake Cowichan: $624,667 l Mill Bay: $1,117,000 l Shawnigan Lake: $764,000 l West Duncan: $722,576 l Youbou: $450,000 l Kelsey Bay & Sayward: $375,000 l Port Hardy: $260,000 l Port McNeill: $540,000 l Central Campbell River: $641,571 l North Campbell River: $994,900 l South Campbell River: $715,000 l West Campbell River: $674,950 l Willow Point: $835,154 l Town of Comox: $914,294 l City of Courtenay: $780,250 l East Courtenay: $1,006,786 l North Courtenay: $1,407,450 l South Courtenay: $1,019,267 l West Courtenay: $662,500 l Crown Isle in Courtenay: $1,248,850 l Cumberland: $911,250 l Merville & Black Creek: $916,400 l Union Bay & Fanny Bay: $820,000 l Brechin Hill in Nanaimo: $515,000 l Cedar: $1,075,000 l Central Nanaimo: $643,067 l Chase River Area of Nanaimo: $756,300 l Departure Bay in Nanaimo: $871,286 l Diver Lake in Nanaimo: $828,967 l Extension area in Nanaimo: $520,000 l Hammond Bay in Nanaimo: $1,111,875 l Lower Lantzville: $935,000 l North Jingle Pot: $1,189,000 l North Nanaimo: $1,035,136 l Old City Nanaimo: $601,333 l Pleasant Valley in Nanaimo: $689,967 l South Jingle Pot in Nanaimo: $761,000 l South Nanaimo: $681,870 l University District in Nanaimo: $904,648 l Uplands in Nanaimo: $672,528 l Upper Lantzville: $1,366,500 l Bowser & Deep: $1,014,000 l Fairwinds: $1,321,650 l French Creek: $1,079,750 l Nanoose: $1,525,500 l Parksville: $929,070 l Qualicum Beach: $896,764 l North Qualicum: $880,000 l Alberni Valley: $720,000 l Port Alberni: $541,018 l Ucluelet: $783,000 l

Campbell River Real Estate Market Reports

A detailed real estate market update flyer for Campbell River, dated February 2024. The update, presented by Jason Anson's personal real estate corporation, shows a 'Sold' signpost, highlighting a decrease in the average selling price of single-family detached homes by 4.70% from the previous year, with current figures at $703,295. The flyer also compares new and active listings, with 31 new listings against the previous 54, and 78 active listings compared to 118 from the last period. A section shows properties sold (21) and average days on the market (62). The flyer includes Jason Anson's contact information, branding for eXp Realty, and a note stating it does not intend to solicit clients under contract with another realtor. — February 2024 Campbell River Real Estate Update by Jason Anson – Market Trends and Insights.

February 2024 has marked another intriguing month for the real estate market in Campbell River, revealing shifts and continuities in home values. This report delves into the recent data provided by the Vancouver Island Real Estate Board to dissect the listings, sales volume, pricing trends, and market efficiency, setting the stage for a comprehensive understanding of the current market dynamics.

Market Overview of February 2024

The Campbell River real estate landscape has experienced several notable shifts this month. An overarching theme has been a decrease in units listed, coupled with an increase in units sold, indicating a competitive market landscape. Economic indicators, such as interest rates and employment rates, alongside seasonal factors, have played pivotal roles in shaping the market.

Units Listed: We observed a 42.59% decrease compared to last year, with 31 units listed.
Units Reported Sold: Sales decreased by 25%, with 21 units sold, signaling a heightened demand for available properties.
Sell/List Ratio: The ratio has improved, signifying a competitive market environment.

Detailed Analysis

The comparative activity by property type highlights a discernible shift in the market, with a significant decrease in units listed and a complex interplay of factors influencing buyer and seller behavior.

Impact on Buyers and Sellers

This current market landscape offers a mixed bag for buyers and sellers. Sellers are finding a receptive market, albeit with fewer listings, while buyers face competition, emphasizing the need for strategic approaches to home buying and selling.

Regional Highlights

Campbell River’s market shows significant variances in activity, with certain areas experiencing more robust sales activity. These regional nuances underline the importance of localized market understanding.

Active Listings

The active listings count stands at 78, a decrease from the previous year, highlighting a tight market with potential supply constraints affecting price dynamics.

Market Insights

Emerging trends include a notable shift towards energy-efficient and sustainable homes, reflecting broader societal shifts. Legislative changes and infrastructure developments also continue to impact market dynamics significantly.

Listings and Sales Volume

The reported sales dollars saw a notable adjustment, indicating a vibrant, albeit shifting, market landscape. This trend provides valuable insights into the overall market activity and sentiment.

Pricing Trends

The average sell price/unit reflects a slight adjustment, with the market witnessing a 4.70% decrease in average sell prices. This trend is crucial for understanding the underlying value shifts in the Campbell River real estate market.

Market Efficiency

The days to sell have slightly decreased, suggesting an increasing market efficiency and a quicker turnaround in property sales, benefiting both buyers and sellers in terms of reduced market uncertainty.

Additional Considerations

The financial market overview suggests a continued impact on real estate, with upcoming trends forecasting a cautiously optimistic outlook for Campbell River’s market. Sub-market analysis reveals unique trends within specific areas, offering tailored insights for stakeholders.

Conclusion

The Campbell River real estate market in February 2024 showcases a dynamic interplay of factors influencing home values. From listings and sales volume to pricing trends and market efficiency, the current landscape offers unique opportunities and challenges for buyers, sellers, and investors alike. As the market continues to evolve, staying informed and strategic remains paramount.

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Jason Anson Personal Real Estate Corporation

© 2024 - Jason Anson Personal Real Estate Corporation at eXp Realty. MLS® property information is provided under copyright© by the Vancouver Island Real Estate Board and Victoria Real Estate Board. The information is from sources deemed reliable, but should not be relied upon without independent verification. Member of The Canadian Real Estate Association and more.