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Low inventory and levelling of prices mark end of a busy 2017

 

This past year has been another active one, through the province, on the Island and in the Comox Valley. Buyers and sellers were happy and local realtors were busy keeping up.

And, as the year draws to a close, we look back to see how things went and forward to see where we are headed for 2018.

 

Another year of record inventory lows

According to the Vancouver Island Real Estate Board (VIREB), a lack of inventory continues to drive the housing market. Even though the supply of single-family homes for sale has been rising steadily every month since VIREB hit a historic low of 859 units in December of 2016, inventory dipped in October and once again in November. So, the VIREB area is still a sellers’ market, making it an optimal time to list.   

 

Provincially speaking . . .  

Strong economic fundamentals, such as robust retail sales, as well as job and population growth, mean that BC’s housing market is still doing very well, notes the British Columbia Real Estate Association (BCREA). The province’s economy continues to lead the country, with GDP in 2018 expected to hit 3.8 per cent. That being said, federal government policy decisions, including slightly higher interest rates and the new stress test for mortgages, could affect the housing market in 2018, but it’s too early to say what the effects will be.  

 

What does this mean for the Comox Valley market?

Consumer confidence remains high, as indicated by November statistics that show the Comox Valley’s benchmark price hit $467,200, 21 percent higher than last year. Don McClintock, VIREB President-Elect, reports that there are no apparent signs of buyer fatigue anywhere on the Island. However, multiple offers have decreased slightly in some markets, which could be good news for buyers.

 

Whether you’re thinking of moving in or out of the Comox Valley, work with an experienced Realtor® with specialized knowledge of the community to ensure the best possible outcome.

 

To find out more about our real estate opportunities in our wonderful Valley, contact me any time through my website or by visiting my Facebook page.

 

And, finally, I hope you and your loved ones have a happy and relaxing holiday season!

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The most wonderful time of the year . . . and Christmas is just the beginning!

 

Some people count down the days ‘til Christmas, but that’s just the start of the fun when you live in the Comox Valley. Wintertime in the Valley means never having to say you’re bored. So read on, and get an idea of just some of the things going on in the Valley this “off-season.”

 

 

December: markets, shows and merrymaking

 

Like many areas, Christmas fairs are in great abundance throughout the Valley during late fall and into December, but our spirited, artsy community ensures they’re a step above in terms of quality and quantity. As usual, the Comox Valley Farmers’ Market runs Saturday mornings right up to Christmas at the Native Sons Hall. This year’s Elevate Winter Bazaar is being held December 8 & 9 at the Lower Native Sons Hall. And December 8, 9, and 10, the Touch of Class market takes place in Comox at the Little Red Church. For more info on local markets and other holiday activities, follow this link to the What’s On Digest listings.

 

If entertainment is more your style, check out the seasonal offerings at The Sid Williams Theatre. The Yellowpoint Christmas Spectacular, favourites James and Jamesy performing O Christmas Tea and Anne of Green Gables are just some of the selections to choose from. And be sure to take the kids or grandkids to check out the Gingerbread Village at Crown Isle. Speaking of children, the pool and skating rinks always have special events and extra hours for the public during the holidays, so find more details on the CVRD website at www.comoxvalleyrd.ca.

 

 

January: resolve to get active

Obviously, with Mt. Washington Alpine Resort in the neighbourhood, there are plenty of offerings to help keep you moving during winter. Snowshoeing, snowboarding and downhill and cross-country skiing will do the trick up on Vancouver Island’s largest year-round family resort.

 

 

Down in the Valley, there are still lots of other options that we can enjoy year-round, such as golf, hiking, biking, kayaking and walking. Of course, the weather doesn’t always cooperate, so you may want to head indoors and see all the great programs offered through our awesome recreational facilities in Comox, Courtenay and Cumberland.

  

February: food, friends and fun 

Since you’re going to be so busy – not to mention diligent – about getting active, you might as well treat yourself to some of the wonderful things on offer at the various dining establishments around town. Why not take advantage of “Dine Around Comox Valley” a yearly celebration of food that runs from mid-February to mid-March! This annual, month-long event showcases local restaurants, which offer special menus at a special rate, and will leave you feeling satiated and satisfied.

 

And what an opportune time to reacquaint yourself with the local craft breweries and award-winning wineries. Visit them on your own or sign up for tours through the Discover Comox Valley website. Maybe for a special Valentine’s Day outing?

 

 

Yes, winter means fun in so many ways when you live in the Comox Valley. I don’t know about you, but it almost makes me wish winter came more than once a year . . . almost.

 

As always, feel free to contact me to find out more about local real estate opportunities. Please, check out my website or visit my Facebook page. And if you are thinking of listing your home, don’t forget to have a look at my free Seller Guidebook!

 

 

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