"Comox Valley Real Estate Resurgence: Unexpected September Revival and Market Trends" This month saw an uptick in property values".
In this October Update:
Real Estate Quote of the month
Comox Valley September 5 yr. home prices
Interest rates
Inflation expectations
Data used for Comox Valley September 2023 pricing
Quote of The Month:
"The best investment on Earth is Earth." – Louis Glickman
Comox Valley Single Family Dwellings(SFD).
September 2023 witnessed an unexpected resurgence in the real estate market, defying the conventional autumn slowdown. The sudden influx of buyers took many by surprise, prompting us to wonder where they were during the typically bustling month of June. While it's true that, on average, last September featured lower prices compared to this September (+7%), the market still lags significantly, with a decline of over $100,000 since May 2022, marking an 11% decrease overall.
However, when viewed from a different perspective, the market's resilience since hitting its lows in June 2023 is remarkable. It has rebounded, showing an increase of $128,000 or 14%, approximately. This positive turnaround can be aptly described as a substantial bounce back.
In summary, when considering the average sale price for Single Family Dwellings in the Valley, it's evident that a peak was reached in May 2022, and the prevailing trend points downwards. But then again, who expected September to ellipse June?
Quarterly topic: Interest rates unchanged for September
Inflation expectations:
Data used for Comox Valley 5 year average price:
Included: Zone 2, Excluded: ocean front, acreages
Disclaimer:
The content presented in this newsletter is intended for general informational purposes only. Real estate market conditions are dynamic and subject to change, and the data shared herein is based on the best available information at the time of publication.
While I am committed to ensuring the accuracy and reliability of the statistics and market information presented, it is essential to recognize that my analysis is crafted from independent research and may differ from mainstream analyses that rely on distinct data sources. Real estate markets are influenced by a multitude of factors, both internal and external, which may not be fully captured in the provided data.
Readers are strongly encouraged to conduct their own research. I provide this information in good faith, and for those seeking a more personalized and detailed analysis tailored to their specific needs, I am available for individual consultations. Your trust in my dedication to delivering accurate and valuable information about the real estate market is sincerely appreciated.
