Dean Thompson
Cell:250-898-4777
Office:250-339-2021
Toll Free:888-829-7205


Comox Valley Real Estate - March 2024

The real estate market chart above indicates a return to a more balanced market, with Buyers and Sellers having an equal hand at the negotiating table; however, desirable homes in sought after locations are still experiencing multiple offers.  As the days get longer, the number of listings and sales will continue to rise.

  

February 2024 Statistics:

  • The average sell price of a detached home in February was $871,291; this is up 2.2% from last month and up 6.7% from a year ago.
  • There were 140 active residential listings at the end of February. This is up 6.1% from last month (132 listings) and down 7.9% from from a year ago (152 listings).  
  • A total of 36 detached homes sold in February; this is up 71% from last month (21 homes sold) and down 7.7% from last year (39 homes sold).
  • It currently takes an average of 62 days for a residential home to sell; this is 11% faster than last month and 18% faster than last year.
  • In the fist two months of 2024 there have been 39.2% more sales dollars generated thru real estate than in the same period last year.


For detailed information, visit Comox Valley Real Estate Statistics or contact me directly. 


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          Interest rate remains unchanged


          The Bank of Canada announced its key overnight lending rate will remain at 5% on March 5, 2024.  This is the 5thh consecutive announcement where interest rates have remained unchanged.  Many economists feel interest rates will start to decline in the second half of 2024.  


          To help understand and analyze how changes in interest rates affect your mortgage, please visit:  my mortgage calculator


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          Mount Washington March Madness!

          Mount Washington Alpine Resort is open daily until April 7, 2024 for skiing, snowboarding, nordic, fat tire biking and the Tube Park. There is night skiing on Friday to Sunday until 9pm. 

          The mountain has been getting great snowfalls in March!  For current information and snow conditions, visit  www.mountwashington.ca


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          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.