Youbou Home Values for January 2024

Avg Home Prices
  • Vancouver Island: $844,196 l North Island: $391,667 l Comox Valley: $947,555 l Cowichan Valley: $812,181 l Pacific Rim: $583,496 l Parksville & Qualicum: $1,064,865 l Nanaimo: $847,984 l Campbell River: $766,992 l Surrounding Islands: $580,000 l Chemainus: $620,000 l Cobble Hill: $872,500 l Cowichan Bay: $872,000 l Crofton: $653,000 l East Duncan: $823,850 l Honeymoon Bay: $809,750 l Ladysmith: $877,500 l Lake Cowichan: $624,667 l Mill Bay: $1,117,000 l Shawnigan Lake: $764,000 l West Duncan: $722,576 l Youbou: $450,000 l Kelsey Bay & Sayward: $375,000 l Port Hardy: $260,000 l Port McNeill: $540,000 l Central Campbell River: $641,571 l North Campbell River: $994,900 l South Campbell River: $715,000 l West Campbell River: $674,950 l Willow Point: $835,154 l Town of Comox: $914,294 l City of Courtenay: $780,250 l East Courtenay: $1,006,786 l North Courtenay: $1,407,450 l South Courtenay: $1,019,267 l West Courtenay: $662,500 l Crown Isle in Courtenay: $1,248,850 l Cumberland: $911,250 l Merville & Black Creek: $916,400 l Union Bay & Fanny Bay: $820,000 l Brechin Hill in Nanaimo: $515,000 l Cedar: $1,075,000 l Central Nanaimo: $643,067 l Chase River Area of Nanaimo: $756,300 l Departure Bay in Nanaimo: $871,286 l Diver Lake in Nanaimo: $828,967 l Extension area in Nanaimo: $520,000 l Hammond Bay in Nanaimo: $1,111,875 l Lower Lantzville: $935,000 l North Jingle Pot: $1,189,000 l North Nanaimo: $1,035,136 l Old City Nanaimo: $601,333 l Pleasant Valley in Nanaimo: $689,967 l South Jingle Pot in Nanaimo: $761,000 l South Nanaimo: $681,870 l University District in Nanaimo: $904,648 l Uplands in Nanaimo: $672,528 l Upper Lantzville: $1,366,500 l Bowser & Deep: $1,014,000 l Fairwinds: $1,321,650 l French Creek: $1,079,750 l Nanoose: $1,525,500 l Parksville: $929,070 l Qualicum Beach: $896,764 l North Qualicum: $880,000 l Alberni Valley: $720,000 l Port Alberni: $541,018 l Ucluelet: $783,000 l
Youbou Real Estate Market Reports
Feb 6 /
Jason Anson /
0

Analyzing the data from the Vancouver Island Real Estate Board for Zone 3 – Cowichan Valley, specifically focusing on Youbou’s residential – single family detached homes (excluding acreage and waterfront properties), offers insightful trends for January 2024. Here’s a detailed breakdown:

Units Listed and Sold

  • Listings remained constant year-over-year for both the current month and year to date, with 1 unit listed in each period, indicating stability in the number of new properties entering the market.
  • A decline in units sold was observed, from 2 to 1 (-50%) in the current month and year to date, suggesting a slight dip in sales activity compared to the previous year.

Sell/List Ratio

  • The sell/list ratio for January shows a significant drop from 200% last year to 100% this year, indicating that while last year, every listing was sold twice on average (possibly reflecting data anomalies or re-listings), this year, every listing sold exactly once. Over the 12 months, the ratio slightly decreased, reflecting tighter alignment between listings and sales.

Sales Dollar Volume and Pricing

  • Reported sales dollars decreased by 22.19% to $782,000 in the current month, year over year. Over the 12-month period, there was also a decrease of 10.93%, suggesting a lower total value of properties sold.
  • The average selling price per unit saw a significant increase of 55.62% to $782,000 in the current month, compared to last year. This substantial rise indicates that the homes sold this year were likely higher in value or that the market has appreciated.
  • The median sell price for this period is $782,000, which can help identify the middle value of the sold properties, providing insight into the market’s core without the skew from unusually high or low sales.

Sell Price/List Price Ratio and Days to Sell

  • The sell price to list price ratio improved slightly, indicating that properties are selling closer to their asking price this year.
  • Days to Sell saw a significant reduction from 97 days last year to 55 days this year for the current month, indicating a faster-moving market where properties are selling more quickly.

Active Listings

  • The active listings count at the end of the period stood at 4, compared to 2 from the previous year, indicating an increase in available inventory for buyers.

Implications for the Market

This data suggests a market with a mix of trends. While the number of sales has decreased slightly, the significant increase in average sale price indicates that the value of homes in Youbou has potentially increased, or that higher-valued homes are being sold. The reduced days to sell and higher sell price to list price ratio further suggest a competitive market environment for well-valued properties. The increase in active listings could offer more options to buyers, potentially stabilizing the market by balancing supply and demand.

For buyers, this may mean acting swiftly on desirable properties, as the market pace appears to be quickening. For sellers, pricing strategically remains key to attracting serious offers, particularly in a market showing signs of increased competition but also higher potential sale values.

This analysis is critical for understanding local market dynamics, aiding both buyers and sellers in making informed decisions with the guidance of a knowledgeable real estate professional.

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