Comox Valley real estate statistics for July 2020

The Comox Valley real estate market continued to show increased activity in July, in response to the significant decrease in market activity in April and May due to the global pandemic.

• Total sales dollars (all property types) for July 2020 in the Comox Valley increased by 7% compared to July 2019.

• The average sell price of a single-family home in July 2020 was $614,406 (median sell price $605,000).  This is a 7% increase from July 2019. 

• Currently, it takes an average of 46 days for a single-family home to sell. This is a 20% increase from July last year, when the average was only 38 days.

• Single-family homes sold for 98% of the listing price in July 2020.

• The number of single-family units listed in July 2020 was up 2% from July 2019. However, the number of units reported sold decreased by 12% compared to last year.

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

Bank interest rates drop 1.5%

The federal government dropped interest rates by 0.5% on March 4, March 13 and March 27 for a 1.5% total drop in March 2020.  This is good news for many home buyers.  On April 6, 2020 Invis was advertising 2.35% on a five year variable rate mortgage.

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