2021 Real Estate Reflection & 2022 Market Predictions
2021 was a year of contradictions. Experts were telling us that because of COVID-19 that the real estate market was going to slow right down because people would be having a hard time economically and that there would be inflation and the government would react and raise interest rates. Some of that came true…but. The market in Campbell River went nuts!
Interest Rates are at and are currently holding at record lows. There is a low number of homes on the market, nearly everything listed is sold and is sold for more than asking. The number of new listings of Single Family Homes dropped by 8%, townhomes by 16%.
Equity held in real estate in Campbell River has increased in direct relation to the market price increases.
Why? Interest Rates are low. Our area is in high demand and Campbell River is becoming a desirable destination.
Call for a free market evaluation. We have strategies to help you plan your real estate future and take advantage of your real estate equity position.