Warren's February Market Update

In February, the Cowichan Valley market was quite busy! With 45% more sales than the previous February, and 121% higher month-over-month, it feels Spring is in the air with many buyers coming out from hibernation. While much media attention has been on interest rates and a hoped-for reduction from the Bank of Canada, some financial institutions are offering significantly lower rates compared to last fall.

November Market Update

November Market Update

VIREB Chair explained, "November didn’t hold any surprises, as we get close to Christmas the market usually slows down considerably. There is undoubtedly demand out there, but high interest rates are deterring many buyers from moving forward. Many potential buyers seem to be opting to wait until spring, with the hope that rates will come down. The BCREA anticipates that Vancouver Island Real Estate Board will close the year with around 7,100 sales, the lowest number posted since 2013."