Happy New Year! I hope your 2024 is off to a great start.
In the Cowichan Valley, the Real Estate market continued to drop in sale prices thru the first half of 2023 but appears to have hit bottom in May and has remained mostly level since, even trending ever so slightly upwards.
Although the number of units listed this past December were up marginally from numbers in December 2022, inventory continues to decline dropping overall by 11.16% in the last 12 months to date. Average Sale price also dropped by 5.54% over the last 12 months however the average sale price thru December 2023 was up by 4.66% over December 2022 going from $738,207 to $772,611.
What 2024 will hold in our neck of the woods is yet to be seen. Of course, there are lots of experts out there making predictions. In my latest blog (https://tcarterrealestate.ca/real-estate-market-forecast-2024/) I take a look at some of the anticipated changes coming and how they may effect you if you are thinking of buying or selling this year. As always in Real Estate, timing is everything! Don’t hesitate to reach out if you have questions. Real Estate is my profession, assisting Buyers & Sellers in achieving their real estate goals is my passion! Let’s chat!
Property information is provided by the Vancouver Island Real Estate Board. The information is deemed reliable, but should be independently verified if important. No warranties or representations are made of any kind.