Our Market here in the Cowichan Valley continued to remain mostly balanced thru this past September with minimal changes when compared to numbers reported in September of 2024. New listings for Single Family Homes dropped 12.41%, Average Sale Price dropped 0.77% and there was no reported change in Units Sold.  Average sale price for a single family home has seen just a slight increase of 0.99% over the last twelve months to date.

The Average Sale Price and number of condos Sold were up thru September, 16.21% and 33.33% respectively, over reported numbers in September 2024.  However, sales dropped 10.48% over the last 12 months to date.  New listings were up 11.24% in the same time period.

Townhouses sales were up more than 19% over the last 12 months while the Average Sale Price remained relatively unchanged, down just 0.42% throughout the same period.  New Listings were down 34.62% over reports from September 2024, down 8.14% overall in the last 12 months.

In the last 12 months to date New listings for Bare Land dropped 18.61% and Sales dropped 24.39%.  Average sale price was mostly unchanged, up just 0.54%.

The Vancouver Island Real Estate Board (VIREB) reported year-over year Active listings were down 4% & Sales up 3% from one year ago, for all types of real estate throughout September.  The Board wide Benchmark price for a single family home was $796,200 in September, down 2% from 1 year ago. Here in the Cowichan Valley our Benchmark was up 4% over the last 12 months, currently at $804,100.

Get more information 👉 check out the latest VIREB media release Here

As we shift into a fall market, Buyers and Sellers who remain active are typically serious about making a move. During this quieter time in the annual cycle both Buyers and Sellers will have the advantage of less competition and the most current data from recent sales and comparable active listings. Sellers whose homes have been on the market for some time may need to make adjustments if they plan to sell before the new year. Sales are taking a little longer and prices remain steady. Meanwhile, Buyers who have been patiently watching the market are now evaluating values and pricing more closely. Determining the right listing price to attract a serious Buyer requires thoughtful analysis and strategic review.

Want to explore what your home is worth in today’s market?  Reach out for a free consultation.