We are rapidly approaching the fall of 2021 after a very atypical real estate market in Comox. So what is on the market at the moment? About 43 homes that vary in asking price from $299,000 to $1.385 million. For this time of the year there are really not that many options but there are homes offered in most price ranges. However, not many in each of the price ranges makes buying the perfect home for most buyers much more challenging. Many of the homes fall in the under 1,000 square foot category until the asking price goes above about $650,000. To find a home larger than 2,000 square foot the price goes above $700,000.

There is a reasonable selection of homes in the $800,000 price point but this is an area where many buyers cannot reach. So what is one to do? Keep looking and when you see something that may work for you do not wait to go see it. If it is move-in ready be prepared to do battle in a multiple offer situation. Clearly, this part of Vancouver Island has become popular with buyers from within and outside of the local market area. While the current prices seem quite high to many local buyers they still represent good value to out-of-town buyers who are used to seeing homes listed in the $1.5 million price range and well above that level. Beyond price and value many buyers are aware of the tremendous recreational, social, and other quality of life opportunities there are in this small coastal community and in the surrounding area. Plus, terrific scenery such as the Island and Coastal mountain ranges and the ocean are often a very short drive away.

The southern end of the Comox peninsula is less than a 10 minute drive from downtown Comox. There, you will see exhilarating scenery looking down the Georgia Strait towards Vancouver. There is a boat ramp to accommodate smaller boats and other types of watercraft and a beach where you can take a stroll, wade into the ocean, walk down a prepared path along the coast or just sit and enjoy the incredible views. From there the airport is less than a 5 minute drive where you can take off to Vancouver or many different tourist destinations. Of course, there is also the weather which is mild and comfortable compared to many other parts of Canada. Great restaurants can be found within a 15 minute drive along with most types of recreational activities.

During the weekend it is common to see people just driving around this beautiful region of Vancouver Island to enjoy everything the area has to offer. This sure beats the hustle and bustle of a very busy city and major traffic jams. Yes there is more traffic now when compared to five years ago and you may have to wait for a traffic light or two. But, it beats sitting in traffic for an hour or more to drive to work each way in Vancouver and many of the surrounding communities. At the end of the day, where would you rather be? Why not take a trip out this way and see the area for yourself? You may just fall in love with it and decide to move here.

The Comox real estate market is nearing the half-way point in 2021. This market has truly been unique mainly because of the lockdowns and restrictions imposed on all of us by the government.  History will have much more to say on the latter issues when all of the truth comes out. In the meantime, let’s look at what has recently transpired in our local Comox homes and properties market.

Selection has been greatly diminished in the first half of 2021 because there have been far fewer listings on the local market when compared to a more typical year. This, in turn, has resulted in many more multiple offer situations. While multiple offers are good for sellers, they are bad for buyers because they often result in homes selling for much more than current market value. If the market subsequently turns downward, the value of these home purchases drops even further.

Prices are up in 2021 but as is the case with most local markets they are subject to a number of influences and they may start to correct to more normal levels once the government restrictions are lifted. This moderation in price is a good thing for the entire local market. More listings and pricing that reflects the real market value of homes in the area are both good for this small real estate market. People do not mind paying fair market value for most of the items that they purchase and home should be no exception.

So when did these changes occur? Up until May of 2020, the average single family home sale price was relatively flat. Thereafter, there has been a steady rise in pricing and a very low inventory. The pandemic certainly has played a role in the unnatural manipulation of this market. The average single family detached sale price was$765,ooo in May 2021 and the median sale price was $734,500. Just over 90 homes sold in the Town of Comox between the 1st of January and the end of May 2021. What is more remarkable is the statistic that tells us that the sell price to list price in the town of Comox in May 2021 was almost 102%. The number of multiple offer situations had a lot to do with driving this statistic up above 100%.

What can people do? If you are local and have been thinking of selling your home, get it on the market before the market starts to correct in response to the easing of restrictions. If you are from the mainland, start travelling and come to the island and see what our area has to offer.  The town of Comox is a terrific seaside community with charm and allure. It is located adjacent to the nearby City of Courtenay and together the town and city account for about 80% of the real estate sales in the Comox Valley. Let’s all get back to normal folks. The first step is to get back to the frame of mind we all had before the start of 2020 when the government’s heavy hand was felt without providing us the scientific evidence for the decisions that they made. Yes this will also come out in the not too distant future. We all have a role to play in getting society back to BETTER than normal. Let’s do this together.  See you on the island and in our beautiful seaside town of Comox.

Comox homes, Courtenay homes and the luxury residential subdivision of Crown Isle are the focus and heartbeat of the real estate market is this region of Vancouver Island. But what else will take place in 2021?

The Filberg Festival held annually in Comox is scheduled to take place during the August long weekend at the Filberg Lodge and Park. The address is 61 Filberg Road in Comox. The festival runs rain or shine and it will showcase three days of wonderful music outdoors by top recording artists and many special guests! It will also highlight the splendours of North America’s finest vendors in our Artisan Market; the renowned market features top crafters, jewellers, painters and artisans selected through juried reviews. The three-day event will also showcase the Island’s best craft beer, wines, ciders and spirits.  The VIP Lounge is an inspired experience with a private bar, secluded viewing, a gourmet menu and unique side-stage seating. The Creative BC Showcase Series on the Rotary Stage will rock out to the best BC bands, coupled with drum circles, ukulele workshop, outdoor yoga, and family friendly fun.

Vancouver Island Music Festival is scheduled to take place in nearby Courtenay at the Comox Valley Exhibition Grounds from July 9^th through the 11^th 2021. This West Coast festival features roots and world music performers from across Canada and around the globe over its 3 days. There are 6 stages full of music, interactive workshops, roving performers, funky crafts and delicious food, on site camping, major eco-initiatives, and more.

The BC Seafood Festival and Expo is scheduled to take place June 11^th through the 20^th at Marina Park in downtown Comox. It is the largest seafood festival in Western Canada. The BC Seafood Festival brings forth the passion and excitement of British Columbia’s seafood producers, top Chefs who love working with seafood and guests from far and wide who come to celebrate the best seafood in the world. Throughout the Festival, guests climb aboard boats to visit deep water oyster farms, pull up chairs to exquisite seafood feasts, taste seafood with wine at numerous pairing events, learn how to shuck and oyster or get up close with geoducks.

The Crown Isle Classic Car Show is scheduled to take place Aug 14^th to Aug 15 at the Crown Isle clubhouse located at 388 Clubhouse Drive just off Crown Isle Drive in Courtenay BC. Planned events include the car show on the driving range, a Comox Valley cruise, dinner/dance and more! Stay tuned for details and registration on a full weekend of cars at Crown Isle.

Comox Nautical Days is in the early planning stages and more information will be coming out soon for the August long weekend at Marina Park.

These are just a few of the events scheduled for 2021. Imagine relocating to the Comox Valley and being just a short drive away from all of these great events. The local real estate market has been strong for a number of years and we should see continued strength this year due to the pent-up demand generated by 2020. Why not drop by for a visit and see what this part of Vancouver Island has to offer.

The seaside community of Comox has an amazing view of the Vancouver Island Rangers, a mountain range that extends along the length of the island. The Comox Glacier, located about 30km southwest of Courtenay and to the west of Comox Lake, is a prime featured attraction of this range that bears the name of its dominant feature. This glacier lies just within the southeastern boundary of Strathcona Provincial Park but access to the well know local feature is via private forest company roads that are not always open to the public. Mount Washington is located about 20 km to the north and the Mount Washington Alpine Resort (ski hill and summer biking and hiking recreation area) is fully accessible via Strathcona Parkway from highway 19.

Comox is located on the western side of the Comox peninsula which also is host to Canadian Forces Base Comox and the adjacent regional civilian airport terminal. The regional airport terminal is located at 1250 Knight Road and it is serviced by Air Canada, WestJet and Pacific Coastal Airlines. Also located on the peninsula is Goose Spit Park, Filberg Park, the Comox Air Force Museum and the BC Ferry Terminal at Little River with sailings to Powell River. The seaside village of Royston is located across the bay from the Town of Comox. The Royston Shipwrecks are a historical landmark in the area. Point Holmes is also a well-known area of the peninsula where one can walk the recently created boardwalk along the ocean and take in the impressive coastal vista south to Vancouver and East to the snow-capped Coast Mountain range.

During the mid-2000 timeframe, Comox real estate investment and relocation was the focus of many people from Alberta. After the peak of this real estate market in 2007 and Alberta’s oil price crash of 2014, this extra-provincial interest was replaced by interest from mainland BC. People who became tired of the hustle and bustle of large city life and the crazy real estate prices realized that the Comox-Courtenay area represented great value and that it offered a quality of life and more relaxed pace of life than what they were living each and every day. Soon this interest translated into relocations to the local area. Many of the relocations were combined with retirement or retirement planning. Today the Comox Valley real estate market remains the focus of many of these “mainlanders” in British Columbia.

CBC wrote an article on the Comox Valley in the fall of 2018 entitled “48 hours in the Comox Valley: From farm to fork and everything in between.”  As the article states “Take a drive up the island to the Comox Valley, where you could very likely stumble across a pop-up farmers market, mountain bike adventure racers, skiers, golf enthusiasts or a live musical festival — all in the same day. It’s a snow-meets-surf-meets-slow food kind of vibe that will have you wondering why you waited so long to get there.” As the title suggests and the article states, there is lots to do in the local area. Websites like Inspirock list more than 90 things to do in the outdoor, relaxing, cultural and romantic attractions categories along with wildlife areas and tours. There is, of course, much more to do in the social, cultural, and recreational categories. Comox remains a quaint seaside town while the nearby City of Courtenay continues to attract real estate and other business investment while it continues to grow in many different ways. As the Crown Isle real estate marketing states “Why not come for a tee time and stay for a lifetime?” There is much to do here and much to love about the Comox Valley with Comox and Courtenay at the heart of this region of Vancouver Island. Why not drop by and see what this area has to offer for yourself?

To say that 2020 has been an unusual year would be an understatement. From a real estate perspective, the market was essentially truncated several times by government lockdowns and restrictions causing people to stop looking at homes and causing the market to collapse in some areas for months at a time.

Within the Comox Valley, real estate activity normally increases in the late February timeframe and it peaks around May and the continues strongly until Labour Day. This predictable pattern did not occur in 2020. After the first government lockdowns were announced many real estate agents such a significant decline in activity and sales and some saw a total collapse for several months. What should have been the best part of the year became the worst. When one of the major ferry routes was shut down by the government the situation became worse as many people from the mainland were unable to go to the island to look for retirement homes, relocation homes needed for job relocations, and in some cases, they had to sell homes but were unable to. Clearly, the lockdowns and restrictions resulted in unprecedented damage to the local real estate industry.

As we approach the end of 2020 things were starting to appear a little brighter as more people were getting out to look at homes and sellers were once again listing homes for sale. However, the most recent non-essential travel bans once again hit the local market hard as many people who had been active looking to buy homes decided to delay such activity until after the most recent restrictions were lifted.

The Comox resale homes market is a small market and any significant disruption can significantly affect it. While listings continue to appear on the market, they are not numerous and when they represent real estate value they tend to be sold fairly quickly. This places people who have to travel to this market from the mainland at a significant disadvantage because of the travel time required. As well, many listings in the average price range of the market result in multiple offer situations where the selling prices are frequently above market value. These sales, because they take place in a small market, then tend to skew the average and median home prices in the market.

Even though buying and selling in the current Comox resale homes market has been challenging, there still are some great opportunities for buyers and seller who are ready to buy and sell. Having a realtor with expert knowledge in the market is essential during these unprecedented times because each small part of the market is different and so is the market activity behavior. What is happening in one part of the Comox Valley may be quite different from another part so it is important not to generalize and draw any conclusions about market behavior across the entire region. For example, Crown Isle is a high-end neighbourhood in Courtenay where list to sales ratios are often very different from a rural area like Merville. In fact, it is also quite different than the Town of Comox and the Comox Peninsula.

As we approach the end of 2020, we are all optimistic that 2021 will be better and that we will be back to normal in the near future.

Once is a while a property gets listed that can truly be considered extraordinary. This is the case with the luxury residential estate located at 846 Foskett Road in Comox. This impeccable luxury estate offering is located on more than 2.6 acres of private and inviting scenic beauty on the Comox Peninsula. Old-growth trees, and professional landscaping masterfully adorn the fully fenced, and gated property. This Estate is less than a 10 minute walk to the ocean and the Point Holmes recreation area. As the crow flies, the estate is about 750 metres to the ocean.

This 2.6 acre Estate and its five buildings are privately nestled among old-growth forest trees that average 450 years. The principles of landscape preservation and the harmonization of construction and nature were used during the development of this property. This resulted in the natural rugged beauty of the forest, the architectural design, and the scenic professional landscaping complementing each other extremely well. This estate maintains its magnificent appeal in all weather conditions. This estate comprises the following 5 buildings: the main residence, the carriage home, the boat house, the utilities building and the Estate storage building (located behind the main residence).

This 3752 square foot 3-bedroom, 4-bathroom rancher was built in 2018 with a focus on features and the best in quality. The 20-foot cathedral ceiling in the great room, gourmet kitchen, and high-tech home theatre room are among a lengthy list of high-end features. The incredible master bedroom, walk-in closet, and the luxurious and soothing master bathroom provide access to the large inviting outdoor spa, and the two fire pit areas. This luxury residence exudes: QUALITY, sophistication, class, and elegance throughout. Natural light fills this captivating and welcoming high-tech residence.

The high-end home theatre room is one of the many features. It should impress even the most discriminating home theatre aficionados. This system comprises a Denon 11.2 X6400H Audio-Visual Receiver, JVC 4K projector,  Klipsch wall mounted speakers and 13 THX surround speakers. There is an 11′ tray ceiling, and six black power recliners with cup holders and USB charging ports. There are four in floor outlets for the power recliners.

The design of the 968 square foot carriage home built in 2017 is consistent with that of the main residence. This self-contained 2-bedroom 1-bathroom income-producing residence is situated above a 2-car garage and office/gym. The nearby ocean can be seen from the patio deck and kitchen of the carriage home.

The roughly 727 square foot boat house built in 2019 with its 14-foot commercial door will accommodate a number of recreational vehicles. The building is heated, ventilated, insulated, finished, and has a drainage system down the centre of the floor.

The utilities building was built in 2017. It contains the electrical panel and auto transfer switch for the generator and the well filtration systems. Additional filtration and tanks are in the crawl space. A back up Generac generator is installed to meet the needs of the home and property. It also contains the Hunter controller for the irrigation system.

The estate storage building is located at the back of the developed property area. It currently is full of wood but it can also be used to accommodate garden tools and the like.

If you are a discriminating and affluent buyer who is searching for a magnificent private estate of incredible quality and high-tech features and systems, this magnificent luxury Estate located at 846 Foskett Road Comox should be a must see.