Inventory continues to build as we head into our spring market. The latest Cowichan Valley Real Estate Market Report for March 2024 reported both a 13.27% increase in the number of Single Family Homes listed and a modest 1.72% increase in the number of sales over March of last year.
Sales for all types of Real Estate in the Cowichan Valley increased across the board over the last 12 months, notably in the sale of Condos (up 19.19%) and Townhomes (up 42.11%). As the average sale price for a single family home continues to increase, would be property owners and first time buyers should consider these often more affordable property types to help build equity & balance budgets as they work toward bigger goals. While the Benchmark price rose for a Single Family Dwellings & Townhomes, Condos saw slight drops over the last 12 months.
There is nothing more important than having a local Real Estate expert on your side when considering making a move. Over the last few years we’ve witnessed wildly fluctuating markets, changes to Real Estate Law & the implementation of new incentives to help manage our current housing crisis. Perhaps too soon to predict what’s working but having a trusted professional assist you in navigating these changes can help you make the right decisions at the right time. Have questions? Reach out and let’s chat about your Real Estate goals!
