Cumberland Real Estate Market Stats: November 2023 Update

Nestled in the heart of Vancouver Island, the picturesque town of Cumberland, BC, continues to captivate prospective homeowners and real estate enthusiasts alike. Its natural beauty, historic charm, and vibrant community make it an appealing destination for those seeking the quintessential West Coast lifestyle. In this blog post, we'll take a closer look at the real estate market in Cumberland, specifically focusing on single-family homes, using the latest data from the National MLS.

November 2023 Real Estate Snapshot:

Active Listings

  • November 2023: 17
  • October 2023: 20
  • November 2022: 17

Active Listings

The number of active listings in Cumberland has remained relatively stable over the past year. This consistency suggests that the town's real estate market maintains its allure, as sellers continue to list their homes, and buyers show sustained interest.

Sales Activity

  • November 2023: 7
  • October 2023: 4
  • November 2022: 5

Cumberland's real estate market saw a notable uptick in sales in November 2023, with 7 single-family homes changing hands. This increase may be indicative of a growing demand for properties in this charming town.

Median Sale Price

  • November 2023: $870,000
  • October 2023: $870,000
  • November 2022: $675,000

The median sale price for single-family homes in Cumberland remained steady at $870,000 in November 2023, matching the previous month. However, compared to November 2022, this represents a significant year-over-year increase of $195,000, highlighting the town's growing desirability among buyers.

Average Days on Market

  • November 2023: 54
  • October 2023: 91
  • November 2022: 71

The average days on market decreased in November 2023, with homes selling more quickly compared to the previous month. This is a positive sign for sellers, indicating that properties in Cumberland are moving at a relatively brisk pace.

Why Cumberland Continues to Shine

  • Natural Beauty: Cumberland's stunning natural surroundings, including lush forests, mountain views, and proximity to the ocean, make it an idyllic location for homeowners seeking a serene escape.
  • Historic Charm: The town's rich history is evident in its well-preserved heritage buildings and mining heritage, creating a unique ambiance that residents treasure.
  • Accessibility: Located just a short drive from major Vancouver Island cities like Courtenay and Comox, Cumberland provides the perfect balance of a small-town lifestyle with convenient access to urban amenities.

Conclusion

Cumberland, BC, continues to be a standout destination for those looking to call Vancouver Island home. With a stable inventory of single-family homes, increasing sales, and a rising median sale price, the town's real estate market remains robust. Whether you're drawn to its natural beauty, historic charm, or tight-knit community, Cumberland has something to offer every homeowner.

If you're considering making Cumberland your home or looking to sell your property in this charming town, now may be an excellent time to explore the opportunities the real estate market has to offer. As always, it's essential to consult with a local real estate expert to navigate this dynamic market effectively.

Data sourced from National MLS as of December 2023. All information is believed to be accurate but is not guaranteed and should be independently verified.

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