Chemainus Home Values in February 2024

Chemainus Real Estate Market Reports
Mar 1 /
Jason Anson /
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Real estate 'SOLD' sign with the name Jason Anson and eXp Realty branding, highlighting Chemainus market update for February 2024. Infographics present average selling price of $803,000 with a 32.22% increase from the previous year, comparison of new versus active listings, and properties sold and days on the market statistics. Contact details and disclaimers are provided.
February 2024 Chemainus Real Estate Market Snapshot featuring Jason Anson, showcasing significant growth in property values and market dynamics

In Chemainus, within the Cowichan Valley (Zone 3), February 2024 reveals telling shifts in the residential market for single-family detached homes (excluding acreage or waterfront properties).

  • Units Listed: The month observed a decrease in new listings, from 7 to 4, marking a -42.86% change. The year-to-date comparison similarly reflects a downtrend, with 71 units listed this year against the previous year’s 94, a -24.47% shift.
  • Units Reported Sold: Sales experienced an upward movement, with 5 units sold compared to 3 last year, a significant 66.67% increase. Year-to-date sales stand at 55 against 47 from the previous year, showing a 17.02% improvement.
  • Sell/List Ratio: An impressive sell/list ratio of 125.00% was noted for the month, a substantial rise from the previous year’s 42.86%.
  • Reported Sales Dollars: The total sales value for the month saw a 120.36% jump, reaching $4,015,000 up from $1,822,000. Year-to-date figures also rose to $42,336,600, up 16.74% from the previous year.
  • Average Selling Price per Unit: The average selling price for a unit in Chemainus saw a 32.22% increase, moving to $803,000 from $607,333.
  • Median Selling Price: The median selling price stood at $680,000, indicating market variability.
  • Sell Price/List Price Ratio: The sell price to list price ratio slightly decreased to 96.91% from 97.54%.
  • Days to Sell: Homes took an average of 55 days to sell, a 57.14% increase from the previous 35 days.
  • Active Listings: The active listings in Chemainus have decreased to 6 from 14, reflecting a tighter market.

This analysis underscores a notable appreciation in Chemainus home values in February 2024, evidenced by increased sales activity and a significant jump in the average selling price. The market dynamics suggest a robust demand for homes in the area, despite a reduction in active listings.

For a detailed exploration and understanding of how these trends can influence your real estate decisions, consider reaching out for personalized advice.

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