The Cowichan Valley Real Estate Market continues to remain mostly balanced and resilient compared to bigger centres across the country. Just a minor 3.27% drop in New Listings of Single Family Homes (acreages & waterfront excluded) over the last 12 months coupled with a 0.90% increase in Average Sale price are good indications of balance. At the same time, a +21.28% increase in reported Sales over the same period is a good indicator of a robust market.

Condos on the other hand have seen a bit of a jump in New Listings, up 7.95%, while reported Sales have dropped 18.02% and the Average Sale Price dropped 0.89% over the last 12 months. Townhouse reported Sales rose 15.38%, with a 5.10% drop in New Listings and a 0.89% drop in Average Sale Price. Numbers for bare land in the Cowichan Valley dropped 12.73% for New Listings & 20.73% for reported Sales. Average Sale Price was up 3.31%

Across the Vancouver Island Real Estate Board area, VIREB Chair Olivier Naud reports that “August was slower than July, but that’s typical with back to school on the horizon” indicating that sales were still up over numbers reported in August 2024. Also noting that there still seems to be pent up buyer demand but still hesitancy attributed to “ongoing tariff concerns”.

Year over year, VIREB reports active listings for all types of real estate are down -3% & recorded sales were up 6%. The board-wide benchmark price for a single family home came in at $796,900, down slightly from July but up 2% over a year ago. Our benchmark here in the Cowichan Valley is right on the button. Check out their latest report Here!

 
Interest rates and prices are holding & economic uncertainty doesn’t seem to be having too big of an impact on our niche market here on the island. School is back in session and the carefree days of summer are coming to an end. Time to buckle down and prepare for what is often a fall rush. Thinking of making a move. It’s always a good season! Let’s chat!