The Cowichan Valley real estate market remains flat but stable along with most areas on Vancouver Island, according to the latest Vancouver Island Real Estate Board (VIREB) Statistics release. Our benchmark price for a single family home here was $779,800, down just slightly from June 2025 and just under the board wide benchmark at $790,800 for June 2026. When compared to other board areas, the Cowichan Valley remains one of the more affordable and attractive markets on the south end of the island!
Single Family Home sales and inventory have declined marginally over the last 12 months to date, while the average sale price rose a modest 2.93% over the same period. Condos here saw 14.29% leap in sales over the last 12 months, while the average sale price and number of units listed dropped just over 3% respectively. Townhomes had noticeable jumps in units listed (up 18.98%) and sales (up 10.96%) while the average sale price rose a mere 0.95%. The availability and sale of raw land dropped considerably by more than 19% respectively, while the average sale price was up by over 19%.
The Vancouver Island Real Estate board recorded 782 unit sales (for all types of real estate) thru June 2026, down 8% from 1 year ago while year-over-year active listings were up 2%. VIREB CEO, Jason Yochim noted that “buyers are showing more price sensitivity at the higher end of the market” further noting that well-priced properties continue to garner interest while homes priced above current market expectations are taking longer to sell.
While our local market is holding steady as we head into the hot summer months, many buyers and sellers are also keeping a close eye on interest rates and what they could mean moving forward. The Bank of Canada announced this morning that it is holding its benchmark overnight interest rate at 2.25%, stating that despite significant global uncertainty and volatility, Canada’s economy is showing signs of improvement. Though today’s decision provides some stability for borrowers and the housing market, many economists believe this could lead to an increase early next year if economic momentum continues to improve and settles near the Bank’s 2% target. This projection, combined with rising inflation in the United States may put pressure on the five year bond yields that drive fixed mortgage rates, potentially triggering a rise in rates as early as this fall.
No matter the market conditions, it helps to have an expert navigator to assist in guiding you through the process & maximizing your return. Thinking of making a move? Give me a shout and let’s chat about your real estate goals.
Get more information 👉 check out the latest VIREB Media release.
