Our spring Market is finally kicking into gear with sales still down but catching up and an increase in available inventory. The latest Cowichan Valley Real Estate Market Report for April 2024 shows a 55.34% increase in Single Family Homes listed over April 2023 and a 2.83% increase in the number of units sold over the last 12 months to date. The average sell price for a Cowichan Valley home continues a slow but steady increase from $773,360 in April 2023 to $827,974 in April 2024 and a modest 0.93% increase overall in the last 12 months.
If you are thinking of selling this year, now is the best time to be listing your home. Spring brings the perfect blend to showcase your home in full splendor and more potential buyers are returning from hibernation as the market heats up with increased inventory. More inventory means more for both current buyers and sellers who will still need a place to call home to choose from.
While we continue to struggle in a housing crisis, changes to BC’s Short Term Rental Accommodations Act (STRAA), proposed changes to Capital Gains Tax, and many other factors such as the introduction of BC’s Speculation & Vacancy tax & proposed increases in Capital Gains tax, all have an effect on market conditions. And, could affect your bottom line if you are looking to buy (or already have) a property with income potential. Learn more at the links below or reach out and let’s chat about your Real Estate Goals!
