May 14, 2024 | News

Mount Washington Market Update January to April 2024

As the Spring season unfolds, the real estate landscape in the Comox Valley is witnessing a resurgence of activity, marking a return to the familiar rhythms of years past. At the Rick Gibson Group, we've been closely monitoring these market trends, and here's what we've observed.

Active Listings and Sales Performance

Currently, there are 25 active listings in the area, indicating a healthy inventory for potential buyers to explore. Alongside this, we’ve seen 8 successful sales transactions, underscoring a promising level of market movement.

Average Days on the Market and List-to-Sell Ratio

One of the key metrics we track is the average number of days a property spends on the market before being sold. In the current climate, this stands at 110 days, reflecting a balance between buyer interest and seller expectations. Furthermore, with an average list-to-sell ratio of 97%, sellers can take confidence in the market’s ability to deliver favourable outcomes.

Property Variety and Pricing Insights

Diversity is a hallmark of the Comox Valley real estate market, and this year is no exception. Among the notable sales, we’ve facilitated the successful transaction of a chalet, showcasing the region’s appeal to those seeking unique and picturesque abodes.

Additionally, our records show significant activity in the condominium segment, with 5 units sold. These sales have seen an average price per square foot of $499, highlighting the competitive pricing dynamics within this sector.

Spring Awakening

Recent weeks have seen a noticeable increase in buyer activity, with a surge of interest leading to more showings and sales. The ease of accessing properties due to clear roads contrasts sharply with the difficulties faced in some winter months. This resurgence reflects the historical trends of the Spring market before the disruptions of the past year, signalling a return to familiar patterns and instilling confidence in both buyers and sellers.

As we move deeper into the Spring season, the Rick Gibson Group remains dedicated to offering exceptional service and expertise to our valued clients. Whether you’re contemplating buying, selling, or simply seeking insights into the ever-changing real estate landscape, our team is here to support you every step of the way.

Rick Gibson and Felicity Buskard

Rick Gibson Group, Royal LePage Comox Valley