Comox Valley Real Estate - March 2024

Comox Valley Real Estate - January 2025 update

Comox Valley - December 2024 Statistics:

  • The average sell price of a detached home in December was $908,100; this is up 7% from November and up 10% from a year ago.
  • There were 120 active detached home listings at the end of December. This is down 18% from last month (147 listings) and down 0.8% from a year ago (121 listings).  
  • A total of 31 detached homes sold in December; this is down 28% from last month and up 35% from last year.
  • It currently takes an average of 60 days for a residential home to sell; this is 1.6% faster than last month and 3.2% faster than a year ago.

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

Interest rate remains unchanged

Bank of Canada Interest Rate lowered to 3.25%

The Bank of Canada reduced its key interest rate by another 1/2% on December 11th from 3.75% to 3.25%.  This is the second, biggest single drop in 4 years and the fifth consecutive rate drop. The next rate announcement is scheduled for January 29, 2025.  

To read press release, visit:   https://www.bankofcanada.ca/2024/12/fad-press-release-2024-12-11/

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

Interest rate remains unchanged

zoning density amendments for municipalities

Recent provincial legislation regarding increased densification of communities came into effect on July 1st. This new zoning allows single family lots to have multiple dwellings and savvy investors have acquired key properties in advance of these changes.  For more information on these new regulations and the opportunities (and challenges) they offer, please contact me.

Mount Washington Ski Seaon

Mount Washington Alpine resort is Open daily!

The snow has been falling and Mount Washington opened for the winter season in November...its earliest opening in 8 years!

For real estate questions about buying or selling Mount Washington properties, please contact me. 

For mountain web cams, tickets & information, please go to website:   mountwashington.ca

 

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