April 2025 Market Update: Single-Family Homes for South Island
Sales Activity: A total of 63 single-family homes were sold in the Cowichan Valley during April 2025, marking little change from 61 homes sold in April 2024 and up slightly from 57 homes in March 2025
Listings & Inventory: The market saw 133 new single-family home listings in April, a significant drop of 17% compared to 160 listings in April of last year. As of the end of April, 260 homes were actively listed, down a bit from 267 homes available at the same time last year.
Pricing Trends:
• The average sale price in April 2025 was $845,292, reflecting a slight increase from April 2024’s average of $831,900.
• Compared to March 2025’s average of $781,617, prices have strengthened.
• For the 12-month period ending in April 2025, the median sale price stood at $775,000.
Annual Performance: Over the past 12 months, 706 single-family homes were sold, which represents an 8% incline compared to the 654 sales in the same period ending in April 2024. The average selling price for the year is down by just 1%.
Market Supply & Days on Market:
• The supply of homes increased to 4.9 months in April 2025, up from 4.8 months in April 2024.
• Homes sold in April 2025 took an average of 34 days to sell, compared to 33 days in April last year.
This summary highlights the key market trends and performance for single-family homes in the Cowichan Valley, helping homeowners and buyers stay informed about the latest developments. Feel free to reach out for further details or if you need personalized advice!
Condo & Townhome Market Update
Condominiums
In April 2025, the condominium market saw a decrease with 5 units sold, compared to 9 in March. Sales are also down from the 11 units sold in April of last year. The average price for condo apartments over the past 12 months ending in April 2025 rose to $354,947 - a 6.3% in/decrease from last year's average of $333,810.
Townhomes
The townhome market experienced a downward trend, with 9 sales in April, a decrease from both the 10 units sold in March and 10 sold in April 2024 (a 10% year-over-year decrease). The average price for townhomes over the past 12 months ending in April reached $561,685, down 2.3% from $575,083 during the same period last year.
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