My Crystal Ball is no more than my own personal observations regarding the Real Estate Market and the information I can obtain from statistics from the Vancouver Island Real Estate Board.
I often get asked what’s happening in our Real Estate Market and what I think will happen in the next couple of years by almost everyone I talk Real Estate with. As of today March 5th, 2019, in Campbell River and area we have only 113 Single family homes for sale, 36 Condos and Strata Units, two half Duplexes, 0 Duplexes, 2 mobile Homes, and 22 lots listed on the Realtor.ca system. This lack of product over the last 2 years has been the reason our real estate prices have maintained or gone up. Even this winter we have seen multiple offer situations due to the lack of real estate inventory, especially in the under $400,000.00 range. Condo’s and Strata units have become more popular as they are more affordable options for buyers on a modest budget and also as rental investments. The fact is that if buyers go South of Campbell River prices are higher and going North toward Sayward or Gold River is not an option for people who want amenities like a Hospital, Grocery Stores, High Schools and Shopping Centers. Unless something drastic happens with the economy in BC and Vancouver Island expect prices to maintain and even go up in the next one to two years. As a Professional Full Time Realtor of over 16 years I have seen the markets in good times and in bad and have the experience to price and market your home so you get it SOLD without complications and for a great price.
Thinking of Selling but want to make a plan and know what the costs are first? Then I’d love to hear from you.