MARKET UPDATE! 2014 saw a 22% increase in the number of homes sold and a modest 4% increase in the average prices. Always keep in mind that these stats are VERY generic as the Cowichan Valley encompasses Mill Bay to Ladysmith. All the properties South of Duncan generate higher sale prices so sometimes the average sale prices can be skewed. If youd like some more specific details on any given area please give me a call. It’s going to be very interesting to see what happens this year with the reduction in the bank of Canada rate and the drop of oil prices. Personally, I think we are going to have a great year simply because of where we live! The Cowichan Valley seems to be somewhat protected against the federal economy due to the fact that the overwhelming majority of the people who move here come to the valley because they have always wanted to live in our paradise! They don’t usually move here because of any particular industry or job placement. If you’re interested in some buyer statistics specifically for the Cowichan Valley you can get the 2013 Buyer Profile from my website at duncanbcrealestate.ca on the “Local Market Info” tab. REALLY AWESOME INFO! The 2014 profile hasn’t been published yet but I would imagine it will be very similar. I will post it when it comes out. To summarize a few significant points regarding Buyers... -50% of people who buy here are buying their retirement home. -The largest % of homes being sold are in the $250k-$350k range -Most popular are the 3 bed, 2 bath single family homes with double garages. Wanna talk Real Estate? Call me or email me anytime! I love chatting about whats going on in our local market :o)
Posted on: Tue, 27 Jan 2015 03:01:59 +0000
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