As you can see below, except in February when the new sales exceeded the number of new listings and in May when the number of new listings skyrocketed, there has been a fairly high ratio of new listings to new sales since the beginning of the year. What this means is that going into the year there was not a lot of inventory on the market and according to these statistics most of what was listed was sold. What you don`t see here which is highly relevant as well is how quickly homes were being sold. This left us with a very tight and competitive market in the city of Nelson so far this year with houses often selling near or over asking price.
Rurally however, things were a little bit different. Although we did see the same anomaly in February where new sales topped new listings and a spike in new listings in May, the ratio of new listings to sales was lower for the rural areas overall. This translates to a bit more of a relaxed market and although sale prices are up from previous years, the frenzy experienced in the City of Nelson did not play out as much rurally. However, the rural market still displayed above-average activity.