Hey everyone,
It’s Louis here, your friendly neighbourhood realtor in Courtenay, BC! As we make our way through the summer, I wanted to share some insights on how our local real estate market has been performing. Let’s dive into the numbers and see what’s been happening in our beautiful town.
Single Family Detached Homes:
- Units Listed: We saw 95 new listings in July 2024, which is a big jump of 30.14% compared to 73 listings in July 2023 and up from 76 in June 2024.
- Units Sold: 56 homes were sold in July 2024, down by 8.20% from 61 sales last July and down from 76 in June 2024.
- Average Sale Price: The average sale price for single-family detached homes went up by 3.15% to $850,999, compared to $824,993 last year but down from $910,840 in June 2024.
- Median Sale Price: The median sale price dipped a bit to $804,000 from $835,000 last year and down from $835,000 in June 2024.
- Days to Sell: On average, homes are taking 44 days to sell, up from 34 days, which is a 29.41% increase and up from 41 days in June 2024.
- Active Listings: We have 235 active listings now, a significant rise from 140 the previous year and up from 221 in June 2024.
Condo Apartments:
- Units Listed: 36 units were listed in July 2024, up 50% from 24 listings in July 2023 and up from 30 in June 2024.
- Units Sold: 19 condos sold, down 13.64% from 22 sales last year and slightly down from 20 sales in June 2024.
- Average Sale Price: The average sale price saw a modest increase of 1.94% to $488,626, up from $479,318 last year but slightly down from $510,840 in June 2024.
- Median Sale Price: The median sale price rose to $400,000 from $387,500 last year but decreased from $410,000 in June 2024.
- Days to Sell: The average days to sell decreased slightly to 38 days from 41 days last year but increased from 36 days in June 2024.
- Active Listings: There are currently 97 active listings, up from 48 last year and 85 in June 2024.
Row/Townhouses:
- Units Listed: We had 24 new listings, a 60% increase from 15 listings last July and up from 22 in June 2024.
- Units Sold: 16 units sold, down 23.81% from 21 sales last year and down from 20 in June 2024.
- Average Sale Price: The average sale price for row/townhouses increased by 8.22% to $648,706, up from $599,412 last year but down from $680,428 in June 2024.
- Median Sale Price: The median sale price was $633,950, up from $626,000 last year and up from $620,000 in June 2024.
- Days to Sell: The average days to sell increased to 55 days from 40 days last year and up from 52 days in June 2024.
- Active Listings: There are currently 58 active listings, up from 34 last year and 51 in June 2024.
Land:
- Units Listed: 8 land parcels were listed, up 14.29% from 7 listings in July 2023 and up from 6 in June 2024.
- Units Sold: 4 land parcels sold, a significant drop of 55.56% from 9 sales last year and down from 7 in June 2024.
- Average Sale Price: The average sale price decreased by 11.32% to $466,125, down from $525,599 last year and down from $480,000 in June 2024.
- Median Sale Price: The median sale price was $385,000, down from $477,500 last year and down from $400,000 in June 2024.
- Days to Sell: The average days to sell dropped dramatically to 40 days from 150 days last year and down from 55 days in June 2024.
- Active Listings: There are 72 active listings now, up from 64 last year and 68 in June 2024.
Overall Market Insights:
The Courtenay market is holding steady, with a few ups and downs in different segments. The increase in active listings is great news for buyers looking for more options, and rising average sale prices indicate a strong market for sellers. The extended days to sell suggest a more balanced market, giving both buyers and sellers time to make thoughtful decisions.
It’s always fascinating to see how our local market evolves, and I hope this update gives you a clearer picture of where things stand. If you have any questions or just want to chat about the market, feel free to reach out. Let’s keep enjoying this beautiful summer in Courtenay!
