At the end of April, our real estate inventory for single-family dwellings in the Cowichan Valley increased to 267 active homes compared to 209 active homes in March.

Real Estate inventory Duncan & Cowichan Valley

Our average sale price for a single-family dwelling in the Cowichan Valley in February was $827k, a slight increase from March, which was $812k.

With an increased in April’s inventory, the sell/list ratio was at 38.75% (160 listed/62 sold), a decrease from the 53.15% (111 listed/59 sold) in March.

In general, homes are selling close to list price, with the market’s sale prices averaging 98.19% of list price – consistent with results from the last few months.

Our average ‘days on the market’ was 35 in April, slightly down from 48 days in March.

With our increased mortgage rates, and the increased inventory, we are fully in a buyer’s market. Sellers are strongly advised to get ahead of the market and keep their pencils sharp on their house prices to be relevant.

Download the full VIREB April 2024 Graphstat Report

Please contact our team with any real estate-related questions; we’re here to provide you with the guidance and advice needed for this type of market.