We finished the year off on good note overall province wide with strong gains over the last couple months of the year. In the Cowichan Valley the market was not so good in November but bounced back in December.

Our market is starting to pick up again after the short blip of snow (hopefully that's all we get) and the holiday season is over.

If you, or anyone you know is thinking of making a move to or from the Cowichan Valley, I have a referral rewards program that may be of interest please do not hesitate to call me directly 250-710-5282.
- Jackie

Cowichan Valley

December 2019 Stats

Over the last year the average single-family home in the Cowichan Valley sold for $537,288, up 6% from $505,607 in the previous 12 months. A more accurate look, the benchmark sale price for single-family homes in the Cowichan Valley finished the month of December at $484,700, up 5.5% from $459,300 at the end of December 2018. The lower end market (under $600,000) still seems to be low supplied and increasing in value while the upper end market (over $800,000) has had higher inventory and been fairly flat to decreasing in values in some areas of the market.

Overall, we are slowly moving closer to balanced market conditions with a 3.14 month-supply of homes on the market now. For reference, a balanced market is considered a 4-5 month-supply.

Clients often ask when it the best time to sell. The simple answer is when the supply is low and right now supply is low so please do not hesitate to call.

Vancouver Island November Statistics Summary (Not including Victoria) :



Vancouver Island Real Estate Board (VIREB) :

December Market Update

Sales of single-family homes in December increased by 40 per cent from one year ago and were 24 per cent lower than in November.

Last month, 237 single-family homes sold on the MLS® System compared to 312 in November and 169 one year ago. Apartment sales in December rose by 68 per cent year over year, while the number of townhouses sold dropped by 20 per cent from one year ago. Annual sales of single-family homes in 2019 totalled 4,119, a nine per cent drop from 2018’s 4,539 sales.

Inventory of single-family homes last month was virtually the same as in December 2018 (937 to 934) but dipped by 19 per cent from November 2019. Active listings of apartments rose by 10 per cent (270 to 298) year over year while townhouse inventory dropped by 35 per cent (148 to 96).

The benchmark price of a single-family home board-wide was $518,000 in December, a five per cent increase from one year ago and marginally higher than in November. In the apartment category, the year-over-year benchmark price rose by four per cent, hitting $304,600, which was three per cent higher than in November. The benchmark price of a townhouse last month rose by two per cent year over year and was slightly higher than in November, climbing to $408,500.