January 2025 Market Stats - Single Family Homes

Single-Family Homes:

• Homes Sold: The number of single-family homes sold in Parksville/Qualicum was unchanged compared to January 2024. However, Nanaimo and the Cowichan Valley saw significant increases of approximately 34% and 93%, respectively. This marks the third consecutive month where the Cowichan Valley has outperformed areas to the north in detached home sales.
• Days on Market: For single-family homes, Parksville/Qualicum saw a 24% decrease in days on market compared to January 2024, while Nanaimo experienced a 79% increase, and the Cowichan Valley rose by 59%. Despite winter months typically slowing down sales, January saw a strong uptick in market activity.
• Average Price: The average price for single-family homes decreased by 8% in Parksville/Qualicum, increased by 21% in Nanaimo, and rose by 5% in the Cowichan Valley compared to January 2024.
• New Listings: New listings for single-family homes increased by 65% in Parksville/Qualicum, slightly decreased by 2% in Nanaimo, and rose by 24% in the Cowichan Valley. Reduced interest rates have encouraged more sellers to list their homes and more buyers to enter the market.