February 2023 Mid-Island Market Update in 60 Seconds

Here are the mid-Vancouver Island market stats for February 2023 given to you in 60 seconds or less! LET'S GOOOOO!!! 

Just like January, February started a bit on the slower side but we saw the momentum pick up as the shortest month of the year went on. Still seeing prices fairly stable since Fall of 2022 but we saw a decrease in listings from the same month of last year. The overall amount of listings is still the concerning factor as we aren't seeing the overall increase we need to satisfy the market. Really well priced or desirable homes are still attracting a lot of buyer attention and even getting multiple offers in some cases. 

Even though this video deals with the market statistics from February, I can tell you that we have our first signs of a the spring market. Last weekend was quite busy for us REALTORS as we saw quite a lot of buyer activity and a lot of accepted offers on available properties. I expect this to continue well after Spring Break and into summer. 

If you have any questions about the market here on mid-Vancouver Island, don't hesitate to reach out. I'm always happy to help!