Campbell River continues to see a low supply of available homes for sale, we are still seeing about half the normal market inventory.
With this short supply it can be said that the prices are going to continue to increase.
In December 2020 the median price of a home was $555.000 compared to today where the price is $642,000.
Homeowners wanting to sell but fearful of not finding a new home due to the low supply have a the option of adding a clause to the contract of purchase and sale that reads,
"Subject to the Seller entering into a contract to purchase another residence and that contract becoming unconditional on or before (date).
This condition is for the sole benefit of the Seller."
If the seller cant find a suitable new home to purchase the agreement is cancelled and the deposit refunded to the buyer.
Adding this clause can ease the stress of searching for a new home.