Nelson Market Update April 2013
April Sales Highest in 3 Years
We seem to have been dealing with a relatively level market over the past 3 years in and around Nelson but there have been some roller coaster-style ups and downs for sellers who have been eyeing the trends. Inventory levels still suggest that we are firmly in "Buyer's Market" territory, however there have been some segments of the market that seem to be breaking away. In Nelson for example a number of single family properties in the $200K to $350K price range (which admitedly is a big range) have been selling with multiple offers, often within 10 days or less of listing.
What appears to be fueling the trend is the large number (20%-30%) of homes on the market that have been unrealistically priced being surpassed by new more agressively priced entrants to the market. Combine this with a built up inventory of buyers unimpressed by current offerings, plus the new buyers coming in with the spring tide and all of a sudden it feels like 2007 again. If you or someone you know has a home in the $200K to $350K range that needs to be sold, please give us a call... current conditions look very favourable if properly priced and very aggressively advertised. We'd be happy to show you, or your friends or family, what we do and how we do it, and why now might be the best time to sell in this market in several years.
Here are the sales numbers by month for April 2013 for Nelson and Nelson Rural and Castlegar and Castlegar Rural. (Disregard the May numbers as these won't be reliable untill Mid-June when all sales have been reported)
NELSON APRIL SALES REPORT
CASTLEGAR APRIL SALES REPORT