Cowichan Valley Market Stats for the month of March are in and it remains a strong Seller's Market.
With a historically low inventory of only 80 active listings (opposed to 2020's 127) and rising prices, it remains a fantastic time for Sellers to list their property. 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.”