So what's happening in the market?
Entered Jan 31, 2012 ~
The market is still quite slow but we're all expecting a burst of energy soon! The phones are ringing a little but I'm certainly not overwhelmed by any means! It's been a great year overall but the market has been quite slow for several months now which would indicate to me that we are bound to have some good activity real soon! If you see something you like - give me a call! I've posted the last 3 months of 2011 on the files to the right. The number of sales & prices this year over the previous year has been kind of bouncing around a bit but the last few months the average prices seemed pretty steady unlike earlier in the year when the prices and number of sales were down. Mortgage rates are absolutely fantastic right now and still seem to be "steady as she goes". No hikes predicted on the near horizon. With the slow market there are a few good deals to be had out there for sure and with the rates being so low it is an awesome time to make a purchase especially in the Cowichan Valley! What an amazing place we live in!
When looking at the statistics to the right, keep in mind that average prices are higher in the Mill Bay area and lower in the Lake Cowichan Area. There really are substantial differences between all of the various areas in the Cowichan Valley. If you want to know what the average sale price is in any particular city in the Valley just call or shoot me an email.
Duncan's average sale prices are somewhere around the $350k (ish) mark.
One thing to keep in mind when considering purchasing a home is that the lending policies have become very rigid this past year so definitely get yourself pre-approved. Talk to a very knowledgeable mortgage broker so that you know exactly where you stand even before you start looking. You'll save yourself a lot of time, energy & potential grief. It's always good to know exactly what you can afford before you start your search!
The Cowichan Valley remains to be (dollar for dollar) one of the best areas in the world to live. Even on a local scale you get a lot more bang for your buck when compared to Victoria or Vancouver. If you have any Local Market Questions please feel free to call (250) 746 8123 or email me at working4u@shaw.ca.
