We are getting near the ½ way point in the 2015 Comox Valley luxury real estate market. So how have we fared. What is going well and what is not?
Comox Valley oceanfront and oceanview seaside homes sales are often used as a benchmark for the luxury homes real estate market. As of the writing of this article, there were 46 oceanfront homes for sale in the Comox Valley. The asking price for these homes ranged from a low of $398K for a 2 bedroom 1 bath 865 square foot home built in 1972 partially supported by stilts and sitting on .2 acres of sloped land to $4.5M for a 4 bedroom 6 bathroom custom built West Coast contemporary home built in 2013 on nearly 5 acres of land with prime views of the Georgia Strait. The newest listing was 2 days old and the oldest listing was 713 days old. There have been 11 oceanfront homes sold in 2015 to date with sales prices ranging from $399,900 to $1,015,000. Most were in the $600 to $700K range. There were 27 sold in 2014 and 28 sold in 2014. As our market moves toward a more neutral market and as prices inch up this year expect this market to become healthier.
Million dollar homes
million dollar Comox Valley listings accounted for 28 listings that ranged from 12 days old to 840 days old located in all parts of the valley. There was one million dollar sale this year to date as compared to 7 in 2014, 8 in 2013 and 2 in 2012. This market has been hit or miss in the current buyers’ market that is coming to an end. Expect sales of these homes to pick up towards the end of the year and into next year.
Crown Isle Homes
luxurious Crown Isle homes are becoming increasingly popular with people moving into the area. Last year the entry point for a single family home was in the low $400K range while this year it is closer to the mid $400K range. This is partly due to a reduced listing inventory and partly due to a rising market. Most single family homes in Crown Isle are freehold and while some home are on the golf course, many are not. This upper end community has wide streets, sidewalks and upscale street lamps, and it is within walking distances to local shopping and amenities. There are currently 22 homes for sale ranging in list price from $442K to $1.1M. There were 20 sales to date this year, 48 in 2014 and 24 in 2013.
Comox Luxury Homes
full featured Comox luxury homes in the Town of Comox continue to be popular. There were 21 listed above $500K as of the writing of this article with the most expensive list price set at $1.89M. This year there were 9 luxury homes sold this year so far, 25 last year and 27 in 2013. Expect Comox to continue to be a location choice for home buyers.
Courtenay Luxury Homes
seaside and mountain view Courtenay luxury homes located in East Courtenay, of all of the areas of Courtenay (East, South, North, West and City Core), remains the most popular luxury homes area. There were 19 luxury homes listed in Courtenay East and 5 sales this year to date with 13 last year and 11 the year prior. Expect Courtenay East to continue to compete with Comox for luxury home sales as a location of choice.
Are you looking for a change in lifestyle and a bargain in luxury home living? Contact Brett Cairns of REMAX Ocean Pacific Realty to help you find your next dream home in the Comox Valley.