If you are house hunting or know someone who is I don’t have to tell you that its slim pickings out there! I know us Realtors are always saying “its busy” “market is hot” but wow it really is crazy out there! Our inventory is down and sales volume and number of active buyers very high right now. Usually in April we have a lot of new listings, even in a slow market this is the time of year people list their homes. This Spring we just haven’t seen that rush of new listings yet. The well priced new listings sell right away, many in multiple offers. I have been in more multiple offers the past few months than…. well ever! And I am not tooting my horn here, its not just me, other Realtors in my office also dealing with a lot of multiple offers and just a general increase in the number of active buyers. Did you hear about the 3 bedroom 20 year old rancher on Candy Lane listed for $229,000 and sold in multiple offers for $250,500! Well that really did happen yesterday!
Who are these people, why are the moving to Campbell River? I get asked this question at least once a day. If I think back the past couple months for me its been about 50% out of town from Fort McMurray, Grande Prairie, Vancouver, Port Moody and Kelowna and the remaining are locals, lots of first time buyers for me. Also a few buyers that have decided against selling the rancher they have outgrown, keep it and renting it out and buying something a bit larger. This leads into another post I should write soon! the rental market in Campbell River is also nutty. The houses that were renting for $1000 last year are $1200 now, the $1200 ranchers easily going for $1400+ rental homes are in demand.
Back to who and what is driving this market in Campbell River. I think its a mix of money coming from baby boomers in larger cities such as Calgary, Edmonton, Victoria and Vancouver retiring or buying now and planning to retire in the next 5 years as well as many young families moving here. We most definitely are not just a retirement city here. I have had a few younger families recently moving back here after 10-20 years working in the “big city” they are moving back here so they can bike, ski, fish and buy an affordable home. It seems in most households someone has a home based/computer based career that no longer ties them to the big city. Quality of life is something I hear over and over again. People want it and we’ve got it here there is no doubt about that!