After a very busy summer, the BC real estate market is still going strong. In and around Nelson, we've also enjoyed a buoyant market that is heading into what looks like a strong fall market. Things in Vancouver have slowed a bit - but I think we are still just seeing the leading edge of how that will effect our Interior and Kootenay markets. Steady demand and limited inventory still seems to be the name of the game locally with many local buyers still having difficulty finding a suitable property.
Here is a snapshot of our local market activity up to the end of August 2016 for Nelson City detached homes and Nelson Rural detached homes. For comparison, I have included the numbers for the same period from last year. As you can see, year-to-date the price trend continues to indicate increases in average prices both in the city and rurally around Nelson. Things are selling faster and the sales price to original listing price is tightening.
There's a lot more to know beyond these simple metrics, so please feel free to contact me if you would like to know more about these stats and trends and how this may be affecting your property value and/or your purchasing options. Good time to buy and/or sell? No quick answer to that - each situation is very unique - call me and we'll discuss your particular situation.