Cowichan Valley Market Stats for the month of February are in and it remains a strong Seller's Market.
With a historically low inventory of only 49 active listings (opposed to 2020's 142) it remains a fantastic time for Sellers to list their property, even in these slower winter months. With such a low inventory and many buyers still looking to purchase, most homes are selling above asking price with multiple offer scenarios being a commonplace.
VIREB President Ian McKay explains a huge contributor to the issue here in the Cowichan Valley: “The length of time it takes to get a development off the ground is a serious problem on Vancouver Island, which is becoming an increasingly popular destination for buyers of all ages,” says Mackay. “While our area has always attracted retirees, we’re seeing younger buyers more frequently than in the past.”
