The Real Estate market here in the Cowichan Valley continues to remain balanced with some small changes in the Average Sell Price (-0.23%) and Number of Sales (+3.82%) for single family homes over the last 12 months to date. Condo sales saw a -16.95% drop in Number of Sales but saw a 6.23% rise in Average Sell Price in the same period.
Inventory continues to grow with the number of units reported listed for Single Family Homes, Condos and Townhouses, all up in March 2025 over numbers reported listed in March of 2024. Bare land inventory saw a 6.47% drop in new listings over the last 12 months to date and a 8.47% increase in Average Sell Price in the same period.
The Vancouver Island Real Estate Board recorded a total of 647 unit sales for all types of property in March 2025, down 1% over March of last year while active listings rose 6% in the same period. VIREB CEO, Jason Yochim reports the VIREB market area remains balanced adding “activity in the first quarter or 2025 is about the same as last year and even up in some markets.”
No change to the Bank of Canada’s overnight rate according to their latest announcement. Next announcement scheduled for June 4th. Threats of tariffs, unchanged rate and economic uncertainty aside, our market here is bustling this spring and a balanced market means opportunities for both buyers and sellers. No matter what economic or market circumstances are at play, Real Estate is almost never a bad investment! But sometimes you need an experienced guide to help you with the details. Give me a call and let’s chat!
