.avif)
The Comox Valley real estate market closed out 2024 with strong performance across all property types. Whether you’re buying, selling, or investing in 2025, understanding these trends is key to making informed decisions. Here’s what December’s numbers reveal about the local market.
Single-Family homes
December saw 31 single-family homes sold, a 34.78% increase compared to last year. The average sale price climbed 10.15% to $908,134, while the median price reached $880,000. Homes spent an average of 60 days on the market, slightly faster than last year’s 62 days. With only 26 new listings in December, inventory remains tight, driving demand and keeping competition high for buyers. Sellers, this is your moment to capitalize on rising prices.
Condos
Condos saw 12 sales in December, up a significant 140% year-over-year. The average sale price jumped 76.07% to $432,792, though the median price softened slightly to $396,500. However, condos spent 100 days on the market on average, more than double last year’s 42 days. Limited inventory and rising prices indicate a strong market for sellers, but buyers are taking more time to make decisions. Sellers should focus on pricing and presentation to stand out.
Townhomes
Townhomes remained popular, with 12 units sold, a 71.43% increase year-over-year. The average sale price increased by 8.36% to $603,583, while the median price came in at $565,000. These properties spent an average of 54 days on the market, up from 26 days last year. Rising prices and steady demand make townhomes a smart choice for sellers, while buyers should be prepared to act quickly on well-priced properties.
Land
Land sales surged in December, with 8 lots sold—a 700% increase from last year. The average price dipped 14.02% to $468,609, while the median price was $444,543. Lots took an average of 167 days to sell, reflecting the unique nature of land transactions. For buyers, this presents a great opportunity to invest in land at more affordable prices. Sellers can benefit from strong interest by pricing competitively.
What December’s Trends Mean for Buyers and Sellers
For buyers, the market remains active across all property types. Single-family homes and land offer excellent opportunities, though competition remains tight due to limited inventory. For sellers, rising prices and steady demand make this an ideal time to list. Strategic pricing and thoughtful preparation will help maximize your property’s potential.
