- As we roll into 2019, we thought it'd be a good time
to look back, and look forward to the coming year.
- The weather out here might be gloomy,
but the market forecast is not.
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- Certainly, the past three years,
we've seen some pretty tremendous growth here
in the Comox Valley.
- This is largely due to the influx
of the Lower Mainland people,
and people from across Canada,
moving to our lovely corner of the world.
With this influx, it certainly has been a seller's market,
and you can see by the graph behind me
how prices have increased year-over-year.
- At the same time, the number of listings declined,
and new construction had a hard time
keeping up with demand.
- This resulted in days on market dropping below 30 days,
and in a lot of cases, they were only on the market
for two or three days.
- As we transition into 2019,
there have been numerous legislative changes,
which will effect our market.
- The mortgage stress test
has probably been the biggest one.
But the vacant property tax, and the speculator tax
have resulted in a moderated Vancouver market.
- So, in the Comox Valley, we can expect to see
a very balanced marketplace.
This coming year, will reflect longer exposure times
for properties before they sell.
One byproduct of this will be steady pricing
without drastic swings,
and we will see fewer multiple-offer situations.
All-in-all, the market will return to historic norms.
- It's gonna be a good market in 2019.
We're really looking forward to helping you.
If you have any questions,
certainly give us a call.
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