The Cowichan Valley Real Estate Market still has more buyers than listings; therefore, properties are selling quickly, and most of the time over asking price.
Real Estate Inventory Duncan & Cowichan valley
At the end of December, our inventory for single-family dwellings dropped to 32 active homes, down from 61 this time last year.
Our average sale price for a single-family dwelling in December was $864,142. In the Duncan/Cowichan Valley area more houses sold than were listed on the market – 26 listed and 33 sold in December – we call this our sales to list percentage which was 126.92%.
Real Estate Inventory 2022
This is still a strong seller’s market with houses selling over list price, which is expected with low inventory and multiple offers. The average home price sale is 102.71% of list price.
The average amount of time a single-family dwelling sits on the market is 24 days, which is down from 34 days last month.
With looming interest rate hikes and increased prices being projected, I expect affordability and low inventory will remain issues for some time throughout the Duncan and Cowichan Valley.