October Newsletter 2024

October 2024

The rate of new single-family residential listings has slowed since last week. 36 properties were listed this week, down from 47 last week. New single family sales have increased subtly from 10 last week to 12 this week. The biggest increase has been in the number of cancellations and expired listings, which have more than doubled in the last week from 23 last week to 59 this week.  The next 10 weeks represent the last selling opportunity in 2024. Sales decrease substantially after December 15 and won't likely start to heat up again until March 2025.

If you are interested in learning what the market conditions are for your home, drop me an email and we can arrange for a conversation about your needs. Replies to this weekly email come directly to my personal inbox and I read and reply to every email I receive. I pride myself on my clients having direct contact and access to me. 

John Cooper
250.619.9207
john@johncooper.ca 

Most Recent Market Statistics (October 2024)

Vancouver Island (not including Victoria) 

320 single-family homes sold. Average price: $818,693 (up 4% from 12 months to date, this year over last). Single-family unit sales volume is down 7%. Average days on market decreased by 2% to 45 days. The average condo sold for $423,434. Condo unit sales are down 2%, 12 months to date. Condos have seen an increase by 6% in days on market. Average days to sell is 51 days. The average row/townhouse sold for $584,915. Row/townhouse unit sales are up 10%, 12 months to date. Row/townhouses have seen an increase by 16% in days on market. Average days to sell is 52 days. Lot sales volume has seen no change. Lot prices have increased by 3%, 12 months to date. Average lot sale price: $456,350. FULL REPORT HERE.

Nanaimo 

76 single-family homes sold. Average price: $837,352 (up 3% from 12 months to date, this year over last). Single-family unit sales volume is down 6%. Average days on market has seen no change(36 days). The average condo sold for $445,560. Condo unit sales are up 1%, 12 months to date. Condos have seen an increase by 13% in days on market. Average days to sell is 44 days. The average row/townhouse sold for $571,940. Row/townhouse unit sales are up 5%, 12 months to date. Row/townhouses have seen an increase by 10% in days on market. Average days to sell is 43 days. Lot sales volume is up 21%. Lot prices have increased by 24%, 12 months to date. Average lot sale price: $575,647. FULL REPORT HERE.

Parksville/Qualicum 

60 single-family homes sold. Average price: $983,287 (up 7% from 12 months to date, this year over last). Single-family unit sales volume is up 2%. Average days on market decreased by 3% to 39 days. The average condo sold for $468,631. Condo unit sales are up 19%, 12 months to date. Condos have seen an increase by 38% in days on market. Average days to sell is 54 days. The average row/townhouse sold for $654,521. Row/townhouse unit sales are up 26%, 12 months to date. Row/townhouses have seen an increase by 20% in days on market. Average days to sell is 42 days. Lot sales volume is up 41%. Lot prices have decreased by 14%, 12 months to date. Average lot sale price: $555,292. FULL REPORT HERE.

Cowichan Valley

63 single-family homes sold. Average price: $797,984 (up 2% from 12 months to date, this year over last). Single-family unit sales volume is down 11%. Average days on market decreased by 4% to 47 days. The average condo sold for $350,923. Condo unit sales are down 9%, 12 months to date. Condos have seen a decrease by 15% in days on market. Average days to sell is 47 days. The average row/townhouse sold for $572,668. Row/townhouse unit sales are down 13%, 12 months to date. Row/townhouses have seen an increase by 33% in days on market. Average days to sell is 64 days. Lot sales volume has seen no change. Lot prices have increased by 13%, 12 months to date. Average lot sale price: $456,957. FULL REPORT HERE.