We have just received the REINZ sales stats for the month of September, and they make interesting reading.
For the first Spring in many years, the sales volume is down. This is a direct result of the lack of supply – i.e. listings. This is what is keeping prices firm, and this is the second Spring in a row where supply has been restricted.
The sales volume for Nelson in September was 67 houses, as against a monthly average of 80-100.
The other interesting feature of the last month’s stats has been the number of sales over $1,000,000 – 10 in the Nelson/Richmond area, and one over $2,000,000.
This is more than double the monthly average.
As I’ve mentioned in previous weeks, if you have been waiting to time the sale of your property for a favourable time in the market, this would appear to be the time. Call me if you wanted to discuss the sale of your own property.
Enjoy the long weekend ahead – stay safe and break out the sun-block.