Supply issues continue! Sales outnumber new listings in October!
The October Graph Stats show 75 single family sales and just 66 new listings, resulting in an active inventory of 64 homes at month end. The current twelve months to date rolling average selling price is $712,595 representing a 26.87% increase year over year. This marks the first time that this number has been above $700,000 for the Cowichan Valley. The average time to sell in October was just 21 days with a high percentage selling in multiple offers and in some cases, several $100,000’s over the list price. The average sale price in October was $787,942 which was just slightly higher than September. The October average sale price of apartments was $306,438, townhouses $538,718 and bare land $383,138.