Lack of Supply Pushing Home Prices to Rise in 2022December 22, 2021
Duncan & Cowichan Valley Housing Market Update – January 2022February 8, 2022
December 2021 Duncan BC Real Estate Review
By Jessica Castle, Duncan Realtor
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.
See the current house statistics media release information below and for further information, visit the Vancouver real estate board.
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About Jessica Castle
Jessica has been a Duncan REALTOR® in the Cowichan Valley for over four years, helping her clients find the perfect outcome to their real estate goals.
Whether it’s buying their first home, selling the family home, purchasing a farm or a small multi-family investment home, she has the experience and knowledge to make the experience seamless.
If you have any questions, please call her on 250-748-7200.