The Courtenay real estate market is forging new ground in March of 2020. The City is divided into six parts for real estate statistical tracking. It comprises Courtenay City – the downtown area; Courtenay East, Courtenay West, Courtenay South, Courtenay North and Crown Isle. Each area is distinct and separate. For example, in the month of February, Courtenay South had the highest average sale price of $794,300 with three home sales. Crown Isle followed with an average price of $742,980 and five home sales. Courtenay City realized an average price of $534,467 and six sales. Courtenay West came in at $505,000 with two sales and Courtenay East followed with four sales with an average price of $498,750. There were no sales in Courtenay North.
When the first two months of 2020 are examined and analyzed the results are as follows. There were a total of 19 home sales in Courtenay City. Eleven of them were in the $500 to $700 thousand dollar range. Ten sales occurred in Courtenay East with eight in the $450 to $700 thousand dollar price range. There were nine in Crown Isle with all of them in the $600 to $900 thousand dollar price range. There were also five in the South, two in the North and two in the West parts of Courtenay. Courtenay offers many types and varieties of homes for sale within and near the boundaries of the city.
Interestingly, when one looks at the overall Comox Valley average prices. the trend upward has been consistent since March 2018. Starting in November 2019 prices flattened at about $580,000. A similar trend has started to emerge in some areas of Courtenay. For single family homes, total listings were up about 19% in February 2020 compared to the previous year but sell to list ratios dropped from 61% to 53%. While Courtenay area statistics vary, one thing is clear: Courtenay is the primary driver of the Comox Valley real estate market with a total share of nearly 56% of total sales.
As of the 23rd of March 2020 there were 152 active home listings in the City of Courtenay. Home types and styles included the following: ranchers, split entry, main level entry with basement, main level basement and 2nd floor, and ground-level entry with main up. While some of the listings describe the age as unknown, most are dated between one and one hundred years old. Quite a few are newer homes (less than 10 years old, but most are in the 20-40 year old range. Most of the homes are three bedroom with a few that are two bedroom and a few that are five or more. List prices vary between $324,900 and $2.2 million.
Clearly, the City of Courtenay has a lot to offer when it comes to real estate options. The type and style of homes are quite varied and the prices range from modest to expensive. Location is also diverse with both urban, semi-urban and rural options on the market. Courtenay is both the economic engine of the Comox Valley and the prime mover in the real estate market. If you are considering relocating to a business-friendly city that offers a terrific quality of life and scenery that is wonderful, this city may be worth finding more about. It is located about an hour and fifteen minutes drive north of the ferry terminal in Nanaimo and accessed via a modern four-lane expressway.