The seaside town of Comox has been steadily growing and attracting more people to relocate to this great area. Over the past two years prices have risen considerably but they remain a bargain to people who are used to dealing with mainland BC prices. Finding a home here has become more challenging due to lower inventory than normal but the choices are still wide ranging when they do become available. All homes for sale on the MLS in the town of Comox constitute most of those on the real estate market at any point in time.

As you drive up Comox Avenue into the town there is a condo complex on the right known as Emerald Shores. Quite a number of the units have ocean and glacier views. Further up the road are more condominium units on the right off of Manor Drive. Just past the old hospital grounds on the right there are a number of homes that range from split level homes built in the 1960s to newer construction and full featured homes down to the edge of the Comox Bay, some with ocean views and others situated right on the shoreline. Travel a bit further down and you will find the Comox Harbour and Marina complex on the right beside Port Augusta Park – the hose to many events throughout the year.

Comox Avenue leads to the main street of Comox BC and near the eastern end there is a shopping mall with a newly remodelled Independent Grocer. Across the street the 9-hole Glacier Greens golf course commands some of the prime downtown real estate with terrific views of the ocean and some of the local deer that roam the course. Travel further east to where Comox Avenue bends north and becomes Pritchard Road and you will see the grounds of the Filberg Park. Travel north along Pritchard and you will encounter a number of styles of home that range from patio homes to single family homes and a large variety of styles. Variety and style choice dot the Comox area along with a number of newer subdivisions.

Beckton Estates is located on the eastern boundary of the town just off of Lazo Road. Travel west along Guthrie Road from there and you will drive by the local high school (Highland) and Foxxwood Heights. Go further west and the next large subdivision you will encounter will be Lancaster Heights. While a few building lots may still be available in and near the town, most of the lots are occupied with homes. Mobile homes, patio homes, condo apartments, duplexes, town homes and single-family homes cover the ground within the town. Single family home styles ranges from the 1960s split levels of the 1960 to modern open concept ranchers and West Coast contemporary homes.

For about two years we have heard about how the prices of homes in Comox, Courtenay, Crown Isle and other parts of the Comox Valley have risen. Has this trend continued? Where is it heading? Let’s find out here.

As of the end of May 2018, single family home prices in the town of Comox rose about 15% over the past year. However, the number of homes sold over that same period was down about 10% and the time to sell was us about 30%. In East Courtenay home prices were up a bit more at 22% and sales were up about 15% and time to sell was comparable to last year. Crown Isle experienced a 40% drop in the number of home sales in May compared to a year ago while the average price rose about 5% and days to sell dropped about 15%. While all of these statistics are interesting, they do not paint a complete picture. For one thing the statistics are based on a fairly small number of home sales in a specific month and trends over a longer period of time are not factored into these monthly statistics.

What is clear from longer term statistics is that home prices have risen sharply compared to about 2 years ago. At the same time the number of homes on the market has dropped considerably and overall inventory has also sharply dropped. This means less choice for consumers and higher prices based on demand for homes in this part of the province. Beyond these often-touted statistics, price reductions have become more common in recent months and multiple offers on homes have become less common. When the overall big picture is considered a change appears to be emerging.

In May the village of Cumberland experienced a rise in the number of units listed by around 60% compared to a year ago in the same month. Overall sales, however, were unchanged and the average sell price actually dropped by 5%. Time to sell was up about 25%. Does this signal a change in this local market? Perhaps too early to tell but the signals are quite different in this part of the valley where new home construction is ongoing in earnest on the northern side of the village.

Real estate markets are often cyclical in nature and some can be hard to predict based on recent history. What has become clear is that the Comox Valley has become a relocation destination of choice for more people. Streets and highways are busier and Courtenay and Comox have become busier as well. Growth and change are inevitable in cities and towns and here is no exception. Offering a remarkable climate and much to do, the allure of the area is undeniable. Based on casual observation the average age of the local population appears to be increasing as well.

When many people think of island living and the lifestyle that goes with it the seaside town of Comox should appear in the images that are generated. Quaint, quiet and a throwback to earlier days when people are not in a hurry are just a few of the attractions. This little town is growing but it is not overgrown. The streets are active with local residents enjoying the day for what it is and what the town has to offer. Most of the shops are family run and the attractions focus on events that get people together to enjoy things like music, socializing and food. Take the annual seafood festival at Marina Park just off of the main street as an example. This event features a celebration of fresh BC seafood and spirits, music and offers a learning experience for those who want to learn more about our oceans and seafood. There are seafood tasting stations along with BC craft beer, wine and spirit tasting stations and live music performances.

A great thing about events such as these is that many local residents can walk from the downtown area to the event. In 2018 the event will he held at the Filberg Heritage Lodge and Park in Comox on June 16 and 17. This event is located just a few minutes’ walk from the main street. Comox is home to a variety of different housing options. Condominium apartment style living choices are common along the main street. They range from modest options to more recently built higher end homes. There are also patio homes, town homes and single-family homes nearby. Many of these abodes offer views of the nearby Comox Bay and Glacier and they are located within walking distance of the local mall and 9-hole golf course. Local residents are often seen strolling around and enjoying the no-rush pace of this laid-back community.

If you need a bit more action and activity the ever-growing City of Courtenay is just a few minutes’ drive away. The city is home to most of the big-box stores and just about every type of cultural, social and recreational opportunity that one can imagine. The original downtown main street is 5^th street and it has local family run businesses all up and down it. This street crosses Cliffe Avenue just before the 5^th street bridge. Cliffe Avenue is what most people now consider the new main street of the city as it runs the length of the city along many different shops, malls and businesses. This part of town is home to several medium rise apartment style buildings, some of which are located next to the Courtenay River and its boardwalk. This street has become more active in recent years as an ever-increasing number of people are discovering and moving to the area. Many of the homes close to the downtown core are older but newer home developments are just a few minutes’ drive away. Courtenay offers almost every type of home option that a person could want.

Courtenay East, for example, is home to a number of family-oriented neighborhoods that include Crown Isle, an expansive and constantly growing community of homes that surround a golf course. This large subdivision of homes is currently viewed as the high-end community of homes within the Comox Valley. There are, of course, many high-end homes located around the local region but this located offers the most in a localized area. Many homes built in Crown Isle are custom built by their owners. Another interesting aspect of this collection of homes is that many of their residents located here from other parts of the province and Canada so there is a wealth of varied experience represented by many of the people seen strolling around the area. Residents are joined by visitors who arrive here to enjoy the Platinum-rated golf course and other local attractions. The resort offers nicely furnished accommodations along the border of the gold course right next to the Club House.

Comox, Courtenay and Crown Isle offer a wide range of homes for people who live in, and who plan to relocate to the area. This region of Vancouver Island also offers a broad spectrum of things to do and enjoy. This diverse region is growing and continuing to attract an increasing number of people to it on both a short term and longer-term basis. If you are looking for a change in lifestyle away from the hustle and bustle of the city and want a more laid-back lifestyle with options to enjoy a variety of social, cultural and recreational opportunities this region may just be the one that you are seeking.

Back in 2015 few people forecast or even anticipated the change and movement in the real estate markets of Courtenay East and Comox that have been experienced since then. While it is fair to say that these market areas have continued to climb a number of specific changes have not been common.

Courtenay East is located to the east of the Courtenay River and it comprises a number of family-oriented neighbourhoods both large and small. At the beginning of 2017 single family home prices were hovering around the $450,000 level. A slow steady rise in prices was experienced throughout the spring and summer. A slight drop was experienced just before the school year started and there was a spike in prices the late fall. The median price in March was over $500,000. As the year progressed consumer choice began to drop off with fewer listings hitting the market.

Crown Isle, a suburb of Courtenay East, experienced similar but different changes. There was a steady increase in home prices from the spring through the summer, a bit of a drop off near fall and a more rapid climb through March 2018. The number of new listings in Crown Isle was down considerably from a more normal year. The entry level for a single-family home started around the $600,000 level at the beginning of the year and it stated to approach the $700,000 level near the end. Because of the limited number of sales in some months, it was necessary to view statistics with a longer-term perspective and to use trends and weighted averages with care. The bottom line, however, is that the market has gone up and consumer choice has been quite limited.

Now let’s focus on the Town of Comox. This seaside community started experiencing an upward trend in home prices in 2016 when the median price of a single-family home hovered around $350,000. Just two years later the median price had risen to more than $500,000. Clearly many people moving into the area saw the charm of this small town as alluring and took the plunge into the real estate market. Once again, the number of homes coming onto the market has been limited and when good ones do come on they often do not last long.

Over the past couple of years, the federal government has made it more difficult for home buyers to qualify for and to obtain mortgages. By some metrics it has become about 20% more difficult for many families. The end result is that fewer people are getting mortgages and there are more offers collapsing due to financing. If you are thinking of buying a home in any of these climbing market areas a recent mortgage pre-approval is a good plan to avoid disappointment.

The town of Comox is all about lifestyle. The location is superb nestled on the shore of the Comox Bay and the views of the nearby ocean and mountains are magnificent. The main street remains quaint and it provides access to small retail shops and essential services. How about the 9- hole golf course that is just off of the main street and home to a number of deer? Marina Park is located across the street and down the hill. It is home to many different events throughout the year and right beside the Comox Harbour.

The Comox Mall is currently being renovated and expanded to better meet the needs of a growing population. This area continues to be sought after by many people who yearn for a better quality of life than the one that they currently have within the hustle and bustle of larger cities and suburbs. Just about everything is located within a short walk or a 10-minute drive from the downtown area. The City of Courtenay is connected on the east side of the Courtenay river by Comox Avenue, Back Road and the Guthrie Road – Lerwick Road connector.

Comox offers many different family friendly neighbourhoods. The larger ones like Foxxwood Heights, Lancaster Heights, and Beckton Estates are complemented by many small ones scattered throughout the town boundary. They offer a wide variety of housing options in many different price ranges and in the styles of homes offered. Also prevalent are the numerous parks such as Highland Park, the Northeast Woods, Brooklyn Creek Park, Filberg Park, Mack Laing Nature Park, Condor Park and others. Nature trails and walking trails are numerous and varied. The Comox Recreation Centre offers a variety of programs to keep you fit and Quality Foods and Independent Grocer offer numerous food choices to keep you healthy. While the pace of life has picked up a bit in the past 5 years, locals continue to live on “Island Time”. When you visit slow down and join us in an unrushed day.

The local harbour offers a boardwalk to enjoy the ocean and local vistas and to just sit and take in the refreshing Pacific air. Nearby the Comox Spit offers tremendous views of the Georgia Strait to the South towards Vancouver and of the nearby Coastal and Vancouver Island mountain ranges. Enjoy and evening on the beach and observe the ocean life doing the same thing. If you are more adventurous the Mount Washington ski hill is a short 30-minute drive to both winter and summer activities. Within the Courtenay-Comox confines there are numerous social, cultural and recreational opportunities to choose from and to keep you going. Seeing is believing so why not drop by and visit the area to see if for yourself?

Last year was a banner year for high-end home sales in the Comox Valley. For more than a decade the Vancouver Island Real Estate Board would report a handful of million dollar sales in this area. Last year there were 31 million dollar sales. Luxury Waterfront homes led the pack with the most sales but there were also some great homes sold in the Comox Peninsula, Courtenay North, Union Bay, Courtenay West and in Merville and Black Creek.

Crown Isle is another area where you can find custom built high end homes with some terrific views. While the number of listings at the start of this year has been less than normal, expect to find some great homes come on the market. Few areas can rival the number of superior quality finishing than in many of these homes. Gourmet kitchens, stunning master ensuite bathrooms, lifelike experiences in home theatre rooms, large expansive great rooms and formal dining rooms are just a few of the many features in these abodes.

The island lifestyle in the valley is complemented by relative bargains in the high end home market when compared to large cities like Vancouver. Why pay 4 million dollars for a home when you can find great luxury homes in the valley at a fraction of the cost? Some of these homes are located in urban areas while others can be found in fairly private areas of the valley. Some stand proud and prominent on high bank waterfront properties while others offer walk on oceanfront access.

If views of scenic wonders like our ocean and nearby mountain ranges are what appeal to you there are many properties that offer exactly that. The Comox Glacier, the Coastal Mountain range and the Georgia Strait are all options form which to choose. Add eagles flying overhead and killer whales surfacing in nearby waters and the natural wonders stand out even more.

Last year sales of these homes ranged from just over a million dollars to three million dollars. There are homes listed up to $3.74M on the current market. Some are simply spectacular and over the top. If luxury is what you need you can certainly find many options here. There are, of course, many other homes below the million dollar mark that are also terrific executive homes. Why not drop by a Comox real estate office and take a look for yourself?