June Market Update: Single-Family Homes in the South Island
COWICHAN VALLEY
Summary: As of June 2025, the average sale price for single-family homes was $840,363, with a sell-to-list ratio of 65%, indicating a _________ market.
Sales Activity: A total of 79 single-family homes were sold in the Cowichan Valley during June 2025, marking a notable increase from 53 homes sold in June 2024 and up from 72 homes in May 2025.
Listings & Inventory: The market saw 122 new single-family home listings in June, a drop of 16.4% compared to 146 listings in June of last year. As of the end of June, 281 homes were actively listed, down considerably from 321 homes available at the same time last year.
Pricing Trends:
• The average sale price in June 2025 was $840,363, reflecting an increase from June 2024’s average of $789,016.
• Compared to May 2025’s average of $847,983, prices have remained consistent.
• For the 12-month period ending in June 2025, the median sale price stood at $771,200.
Annual Performance: Over the past 12 months, 1247 single-family homes were sold, which represents a 5% incline compared to the 1192 sales in the same period ending in June 2025. The average selling price for the year is up by only 0.6%.
Market Supply & Days on Market:
• The supply of homes decreased to 4.6 months in June 2025, down from 6.7 months in June 2024. Homes sold in June 2025 took an average of 44 days to sell, compared to 42 days in June 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 June, the condominium market saw an increase with 11 units sold, compared to 8 in May. Sales are up from the 7 units sold in June of last year. The average price for condo apartments over the past 12 months ending in June 2025 rose to $358,621 - a 5.4% increase from last year's average of $340,200.
Townhomes
The townhome market experienced an upward trend, with 18 sales in June, an increase from both the 11 units sold in May and 11 in June 2024 (a 64% year-over-year increase). The average price for townhomes over the past 12 months ending in June reached $563,885, down 2% from $576,381 during the same period last year.
Victoria
Summary: In June 2025, the benchmark price for single-family homes in the Victoria Core reached $1,325,400, reflecting a 17.5% year-over-year increase.
