Yara Chard’s real estate report from Nelson

by Keith Powell — May 17, 2012

Yara Chard is a Realtor for Valhalla Path Realty in Nelson, B.C. —

At the end of 2011 the overall sales volume for the region was down eight per cent from 2010 and the average price in the Kootenays for a single family detached dwelling only dropped about one per cent.

Things are looking a bit better so far this year. In the first quarter of 2012 real estate sales the Kootenay region has seen an overall increase despite the overall downward trend throughout B.C. The average sale price for a single family detached dwelling had increased slightly from $262,801 to $278,707 throughout the area. There have been 60 more sales compared to last year at this time, listing inventory was up, and the average listing period before a successful sale had been realized was 121 days.

In Nelson single detached dwelling sales have also seen an increase in price from $317,428 in 2011 to $370,340 with an average listing period of 115 days, down from 168 days during the same period last year. Inventory levels are up from 39 to 77 active listings since March. Keep in mind that these averages can be a bit high based on one large sale.

While there has been no significant improvement in the real estate market in the Kootenays, buyers can be happy with the amount of inventory available for viewing. With longer listing periods and more properties available, Buyers are able to make more informed and educated decisions without feeling the pressure of impulse buying in a heated market.

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