March 2026

Monthly Newsletter

6 March 2026

REAL ESTATE MARKET SNAPSHOT

The average sale price for a single family home in the Cowichan Valley (not including acreage or waterfront) dipped a little this February over sale prices thru February 2025 but remained up by 2.75% over the last 12 months. New listings were up marginally this February but continue to decline, down 8.71%, over the last 12 month. Currently we have 589 Active Residential Listings (including all types of Real Estate here in the Cowichan Valley.

The Vancouver Island Real Estate Board (VIREB) recorded 465 sales in February, for all property types in their Board area. Single family home sales were down 3% from a year ago as were Condo sales, down 19% year over year. Townhome sales were also down 8% from a year ago. Active listings for single family homes & townhouses in the VIREB area were up while active condo listings went down slightly. VIREB CEO Jason Yochim reported in their latest media release that it's too early to tell what the market will do but suggested buyers are active as we head into spring and "Realtors are feeling optimistic about 2026. Activity is picking up and with spring just around the corner, we expect to see more listings and more movement from both buyers and sellers.". He added that over the next few months VIREB would be monitoring of provincial sales tax added on certain real estate and property management services introduced in Budget 2026.

Vancouver Island Real Estate Board's board-wide benchmark price was $772,300 thru February 2026, up 1% from a year ago. Our Cowichan Valley benchmark thru February was $756,100, down slightly from the board-wide benchmark but still up 1% from last year.. 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 -7.94%, Average Sale Price +2.57% & New Listings -8.71%

CONDOS

Sales +4.04%, Average Sale Price +0.15% & New Listings +13.79%

TOWNHOMES

Sales -8.44%, Average Sale Price +1.73% & New Listings +14.60%

LAND

Sales -34.52%, Average Sale Price +11.27% & New Listings -21.56%

Learn more about market conditions on Vancouver Island & across BC here:

👉https://vireb.com/market-report

and watch BCREA's February Update👇

BCREA Housing Market Update (February 2026)

5 Mortgage Mistakes Homeowners Make at Renewal

And How To Avoid Them

When your mortgage renewal notice arrives in the mail, it can feel like an easy decision to simply sign the paperwork and move on. But many homeowners don’t realize that renewal is actually one of the best opportunities to improve their mortgage, align it with your plans and potentially save thousands of dollars over time. Here are five common mistakes homeowners make when renewing their mortgage

1. Automatically Signing the Renewal Offer

Most lenders send renewal offers several months before the maturity date. Sometimes even pushing an "Early Renewal" and having people think it is the best option they will get. While convenient, these offers are rarely the most competitive rates available. Having a mortgage broker review it, can often uncover better options in the market.

2. Not Reviewing Your Current Financial Situation

Life changes. Income, goals and priorities often evolve over a five year mortgage term. Renewal is a perfect time to review your mortgage strategy. Some homeowners choose to shorten their amortization, increase payments, or restructure their mortgage to align with new goals. Having this conversation keeps finances running smooth, and aligned with your needs.

3. Missing the Opportunity to Consolidate Debt

If you have accumulated higher interest debt over time, renewal may provide an opportunity to consolidate those balances into your mortgage at a significantly lower rate. For some homeowners, this can simplify finances and reduce monthly costs.

4. Not Accessing Available Home Equity

Many homeowners have built substantial equity since purchasing their home, which sits and isn't readily available when needed. Renewal may provide an opportunity to access some of that equity if needed for renovations, schooling, investments, or other financial plans.

5. Waiting Until the Last Minute

Mortgage renewal conversations ideally start 4 to 6 months before the renewal date. This allows you and your Mortgage Broker time to explore options, compare lenders, and structure the mortgage in a way that best fits your goals.

A Simple Mortgage Review Can Make A BIG Difference!

Renewal does not have to be complicated, but it is worth taking a moment to ensure your mortgage is still working for you. Janette Roch and the RochMortgage Team regularly helps homeowners review their renewal options so they can make informed decisions with confidence. Reach out with questions, we are happy to support you with your mortgage needs and financial goals.

👉🏻 Apply for Pre-Approval Here

The RochMortgage Team is always happy to offer a no obligation conversation to help you explore your options with clarity and confidence.

Call them anytime at 250-588-1919.

Next Bank of Canada Rate Announcement: March 18, 2026

Rates & Information Courtesy of the Roch Star Mortgage Team at Dominion Lending

UPCOMING EVENTS

🍀St. Patrick's Day - Tues, March 17th🍀

Sat, March 28th

10am - 4pm

Easter Craft Fair

Vendors, lunch concession, treats and more..

Centennial Hall

309 South Shore Road Lake Cowichan

Sun, March 29

10:00am - 2:00 pm

Duncan Seedy Sunday th

Cowichan Green Community's 17th Annual Duncan Seedy Sunday. Support local farmers, find fabulous seeds & plans & more!

Si'em'Lelum Gymnasium

5574 River Road

Duncan

Sun, March 8

Permanent Daylight Savings Time!

Don't forget to adjust (spring forward) your clocks for the very last time this Sunday!

Highlights from February 2026

Ally Makes the List!

Super proud and happy to announce our own Ally Earle made the Pemberton Holmes Top 10% Agent List for 2025!🏆

With nearly 300 agents in 17 offices, that's pretty amazing! But we're not surprised. Ally works tirelessly, both for her clients and for us. She deserves this & we couldn't be more proud to be a part of her team!

👏👏💖