A branch of a Vancouver Island business that started in the 19th century has opened in Courtenay.
Pemberton Holmes started in 1887, and continues to be a family-owned operation six generations later. Its Realtors specialize in residential and commercial real estate. The company also offers property management services and rental properties.
It added a Parksville branch two years ago, and started locally in the New Year.
“It’s not very well known up here,” said Mike Mullin, manager of the Courtenay branch.
“The branch is based on residential but I do mainly commercial. We have three Realtors here who basically focus on residential.”
Mullin had an accounting practice for about 10 years before switching to real estate.
“It’s a difficult market,” he said. “For starters, there’s very few listings.”
The market has been dropping since it peaked in April, though Mullin notes the sales-to-listing-ratio is still “extremely high.”
Over 12 months for the Comox Valley, the sales-to-list ratio is 79 per cent.
Multiple-offer deals have become common. Once a property hits the MLS (Multiple Listing Service), an agent will have an offer within the day.
Mullin notes another impact is the effect of mortgage rule changes, which have knocked some people out of the market.
Pemberton Holmes Comox Valley is at 535 6th St. in Courtenay. Call (250) 703-0080.