Duncan Real Estate Market Update

There was a very busy year thus far and things aren’t starting to slow down as we enter into our spring season. There have been quite a few sales this year and if you look at the statistics you can see that the prices have continued to move upwards since January with approximately a 10% increase over last year’s prices for single family homes. If you’re looking for a choice of properties to add to your real estate investment portfolio, then Duncan has more to choose from compared to the rest of the province. At the halfway point between two larger cities, Duncan real estate on Vancouver Island, British Coumbia offers a rural lifestyle, without having to sacrifice proximity to amenities. Any service that isn't already integrated into the city is just a short drive away, in Nanaimo or Victoria, British Columbia.

Can we guarantee how well Duncan is going to do this year? No, but we can look at the data we have and use it as a starting point before doing research. In February the median listed house price of $391,200 in Duncan was a below average compared to the rest of British Columbia.

It’s never an exact art to try to forecast how property is going to appreciate in Duncan for investors. Because the amount of real estate listed for sale has decreased it looks like housing market forces in neighbourhood are likely to put upwards pressure on house prices.

It’s always hard to tell what property prices will do over the coming months, but over the last two months the properties available for purchase in Duncan, Vancouver Island have dried up which would tend to indicate that demand is higher than the supply of new properties.

Good news for Sellers! We have been experiencing the lowest inventory in many years so if you are thinking of selling, give us a call. Happy to help!