Spring market is just around the corner and we are starting to see more listings hit the market! February 2024 sales activity was up across all regions. The number of single family homes sold in Parksville/Qualicum, Nanaimo and the Cowichan Valley increased substantially versus February 2023. The number of new listings was also up in all reporting areas for single family homes which is great news for buyers seeking more options. Days on market for single family homes in Parksville/Qualicum was up 23% versus February 2023, Nanaimo saw a reduction of 21% versus February 2023 and the Cowichan Valley was up 3% versus February 2023. 

The average price for single family homes increased across all reporting regions when compared to February 2023. 

The number of condo and townhome units sold was up in all reported regions versus February 2023. The number of new listings was also up in all reporting regions for February.

The average price for condo and townhome units was up in all reporting regions for February. The days on market for condos and townhomes was down for Parksville/Qualicum versus February 2023. The days on market for condos and townhomes in Nanaimo and the Cowichan Valley was up versus February 2023.

The number of vacant land units sold was up substantially for Parksville/Qualicum and Nanaimo versus February 2023 and flat for the Cowichan Valley versus February 2023. The  number of new listings was up in both Parksville/Qualicum and Nanaimo and down for the Cowichan Valley versus February 2023.

What does this all mean? Well February witnessed both an increase in listings and sales in all reporting regions, and it's likely this trend will continue into March and April with the spring market coming into full swing. Stay tuned for more updates each month!