Market Shift

There has been a change from a strong Sellers market into a Buyers market here in the Nelson Kootenay area. Up until the end of July sales have taken nearly three weeks longer to sell and the average sale price has dropped $30,000 for a single family dwelling right in Nelson. The average sale price year to date for the period ending July 31st, 2011 was $335,151 .

Now is a great time to buy as there is a ton of inventory to chose from and prices are a bit more realistic compared to the spike in 2007. Interest rates remain favorable for the time being and it is a good time to lock into a secured fix rate if you don't like the uncertainty of a variable rate.