BC Homes Sales Forecast to Be Strong in 2021

According to the BC Real Estate Association's third-quarter housing forecast, MLS residential sales are set to increase by 6.5 percent by the end of 2020, and even more for 2021, with predicted increase of 17.6 percent next year.

In the Comox Valley, real estate appraiser Chris Kutyn said in his monthly market update for September 2020 that the Comox Valley area will continue to see upward pressure home prices: “The single-family statistics for August point to a rising average price in the Comox Valley. The market is quite active and even aggressive at times.”

According to the Vancouver Island Real Estate Board, the average price of a home in the Comox Valley in August 2020 was $601,913 up 5% from the average sale price compared to the same time period last year.

Some of this imapct is due to Coivd-19. Families are looking at their homes in a different light - needing a dedicated home office to accommodate working from home, or a separate area for schooling from home as well. As people spend more time at home, many families want more space, both indoors and outdoors. The Ridge community in south Courtenay has recently welcomed several new residents to The Ridge who are relocating to the Comox Valley from larger, more urban cities, perhaps to reduce exposure to a larger population. With interest rates at an all-time low, more people are making the move to get into the market or to move into a bigger home.

What does this mean for you, if you are looking to purchse or build a new home? If you have been thinking of building a new home in Courtenay on Vancouver Island, now is the time to shift into action. The sales activity of new homes and lots has increased significantly during the past few months at The Ridge. Homes and new lots are selling at a brisker pace than at any other time since they started building this development six years ago. Nearly all of the existing new homes by their preferred builders have been sold. Our existing inventory of lots and homes in Phase 3A is 80% sold and the remaining lots will likely be sold in the next few months. To meet market demand, The Ridge will be introducing their newest and final phase - 61 new lots in Phase 3B - in the fall of this year. 

Get started by contacting one of their preferred builders to arrange a consultation regarding a custom home build or to view one of the homes that is under construction. Our inventory of new lots is getting lower every month. Contact us for more information about the remaining lots in Phase 3A or about the upcoming 61 lots in Phase 3B.

Contact Bruce Clapham | Developer of The Ridge
Phone: 250.650.8588 Email: theridge.bruce@mail.com