| | | REAL ESTATE MARKET SNAPSHOT |
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| Average sale price for a single family home here in the Cowichan Valley (not including acreage or waterfront) rose 5.37% over the average price reported thru October of 2024 & was reported up 1.43% overall in the last 12 months to date. In the same time period, the number of sales dropped 8.20% over October 2024 but were also up, 11.44% in the last 12 months. |
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| The Vancouver Island Real Estate Board (VIREB) reports sales for all types of properties in the VIREB market area were down 9% from a year ago with active listings down 4% in the same period. Single family home sales on Vancouver Island (acreages & waterfront excluded) were down 8% from a year ago but up 3% from September. CEO Jason Yochim indicates in VIREB's recent Media Release that "Our local market continues to stand out for it stability and resilience, especially when compared to the Lower Mainland and Vancouver.". A good market for both buyers and sellers.
Vancouver Island Real Estate Board's board-wide benchmark price was $795,900, up 2% from a year ago and just a slight drop from September. Here in the Cowichan Valley our benchmark was $803,700, up 5% from October 2024. For a closer look at our stats for all types of real estate here in the Cowichan Valley, over the last 12 months to date:
SINGLE FAMILY Sales +11.44%, Average Sale Price +1.43% & New Listings -9.10%
CONDOS Sales -11.11%, Average Sale Price +1.95% & New Listings +12.28%
TOWNHOMES Sales +7.19%, Average Sale Price -0.52% & New Listings -5.67%
LAND Sales -28.57%, Average Sale Price -4.29% & New Listings -18.45%
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Bank of Canada Eases Again -Prime now holding steady at 4.45% | Good news for homebuyers and homeowners: the Bank of Canada has trimmed its key rate again, pushing discounted Variable Mortgage rates below 4% for the first time in years. This is a welcome shift after several years of elevated borrowing costs.
Why This Matters: Not only do buyers save money, but lower rates bring renewed confidence to the housing market. When borrowing becomes more affordable, buyers return in droves, listings move faster, and competition rises. We’re starting to see that pattern again so if you’ve been waiting to make a move, this is the ideal time to prepare. Acting now—before the next market surge—can put you ahead of the crowd. A pre-approval lets you move quickly when the right property comes along and protects you from sudden rate increases, so you can shop with confidence, not pressure. | Fixed or Variable? Both are appealing at these levels. For example, many borrowers today are seeing the following rates and weighing in on the benefits:
-3 year Variable @ Prime minus .80% (currently 3.65%) offers lower payments, lower penalties and more potential savings.
-5 year Fixed @ 3.89% provides stability and predictability of payments.
| The right term and product depends on your down payment, comfort level and future plans - so it's worth a discussion. Maybe you are wondering about bridge financing and how it might work for you to sell your house first, then buy? Or you haven’t reviewed your current mortgage lately? Let us reveal opportunities to restructure your mortgage under today’s more favourable conditions. The Roch(Star!) Mortgage Team can do it all! Or reach out to Janette and her team at 250-588-1919 - they're happy to run the numbers and explore your best options! |
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| Next Bank of Canada Rate Announcement: December 10, 2025 | Rates & Information Courtesy of the Roch Star Mortgage Team at Dominion Lending | |
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UPCOMING EVENTS Christmas Kick-offs Begin! |
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|  | November 20th-23rd & November 27th-30 10am-5pm | Cedar Yellow Point Artisan Association Annual Country Christmas Self-Guided Tour. Find beautiful gifts, handcrafted by local artisans for that special someone on your list! Get a tour map HERE Various locations throughout Ladysmith, Cedar & Yellowpoint. |
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Sunday, November 30th 4:00-7:00pm | 2025 Lake Cowichan Christmas Festival Hosted by Country Grocer. Parade, Christmas Market, photos with Santa, live entertainment, hot dogs, hot cocoa & treats - great fun for the whole family. 83 Cowichan Lake Rd Lake Cowichan
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Friday, November 21st 5:00-8:00pm | Enjoy live music, visits with Santa, festive vendors, and local shopping throughout our charming downtown. Support your community by finding the perfect gifts close to home while celebrating the spirit of the season. Shop Local Celebrate Together Feel the Magic City Square |
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Highlights from October 2025 |
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| Halloween Fun at Queen Margaret's | In what we hope is becoming an annual event, the Team was invited back to engage the Grade 2 classes with a "How to Sell a Haunted House Presentation"! So much fun! Thank you QMS for having us again! |
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8105 Miracle Close Youbou Beautifully crafted 4 bdrm, 3 bath cedar home with self-contained suite nestled on 0.62 acres | |
| |  | 2-6740 Considine Ave Maple Bay Beautifully maintained 3 bdrm, 3 bath family home just a short walk to Maple Bay Beach! | |
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508 Wilrose Place Ladysmith Perfectly situated 4 bdrm, 2 bath family home, close to schools, parks, beaches and amenities. | |
|  | 7777 Sunset Drive Lake Cowichan Magical home with guest accommodations on 0.32 acres, just steps to beach & lake access. | |
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58 Pine Street Nanaimo Investor Alert! 6 bdrm, 6 bath income generating home w/easy access to UVIC, Bowen Park & more! | |
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3350 Redden Road Nanoose Bay MOTIVATED SELLER! Charming 3 Bdrm + 3 Dens, 3 Bath home near Schooner Cove Marina. | |
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THINKING OF MAKING A MOVE? LET'S CHAT! |
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ALLY EARLE * PREC Team Leader, Associate Broker & Real Estate Professional *denotes Personal Real Estate Corporation |
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 | JEN ALEXANDER Team Member Real Estate Professional
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JENNEY MASSEY Team Member Real Estate Professional
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| Reach out Today! Let us help make your Real Estate Goals a reality! |
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| 250-710-3181 |  |
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Pemberton Holmes Real Estate
