May 2025 saw our Cowichan Valley Market remain relatively balanced and steady although we did see some jumps here and there.  The number of single family homes sold thru May 2025 dropped 13% over numbers reported in May 2024 however sales were up 6.06% over the last 12 months to date. 

Condos saw some of the biggest changes. New Condo listings jumped 64.71% over listings reported in May 2024 while sales dropped 33.33% and the average sale price dropped from  $367,600 to $335,369 in the same time period. The number of Townhouses sold thru May of this year dropped 45% over May 2024.  New Listings reported dropped 24% in the same period.  New Land sales fell 28.42% over the last 12 months.

Across the Vancouver Island Real Estate Board Market Area, there were 781 sales for all types of real estate and the number of active listings rose 5% over May 2024. VIREB reports the Benchmark price of an average single family home (not acreage or waterfront) in their market area (Malahat to Port Hardy, including the Gulf Islands) at $811,400 down 2%. Meanwhile the Benchmark price for a single family home here in the Cowichan Valley was reported at $806,800, up 4%, over last May.   Over all, year to date sales numbers across the VIREB housing market area remained relatively unchanged and on par with those reported in 2024 while available inventory is currently “providing a reasonable choice for buyers”, according to Jason Yochim, VIREB CEO.

I’ll always advise that real estate is a solid investment, no matter what the market is doing.  A balanced market is a refreshing change from the chaos of a peak or a dip market.  Both buyers and sellers can benefit from the opportunity to fully prepare and conduct due diligence before making a move.  Give me a call if you’d like to chat about how we can work together to maximize your investment in our current market.