Real Estate Market Statistics

Despite the real estate markets in the United States entering into a cooling off period, increased interest rates, and increasing property taxes, the Nelson and Kootenay area market continues to be strong. There is still an enormous amount of outside interest to the Kootenay area with many people looking for future retirement homes and investment income properties.

As per the Kootenay Real Estate Board Statistics the average prices year to date on real estate in the Nelson and outskirt areas are as follows (bear in mind these numbers can be skewed with large or small $ volume individual transactions):

Residential Sales Only

Area	Year-to-Date	Last Year
Castlegar	$228,097	$192,060
Kaslo	$319,994	$306,340
Nelson	$327,396	$296,025
Rossland	$249,626	$180,073
Salmo	$194,611	$159,500
Trail	$172,110	$106,730

Listings

The summer market has been very busy there is still a decent inventory in the Nelson area. Currently, I have a handful of new listings that are going fast.

$289,900 - 4 bedroom, 2 bath family home in Rosemont
$349,000 - Charming character home in desirable location
$89,900 - Immaculate 1991 mobile home with addition 6 miles North of Nelson

View a full list of what is still available at http://nelsonlocal.com/listings/index.html

If you are considering making a purchase or sale in the area and want some expert advice on the local market, contact me for more information about Nelson BC Real Estate.

Winner of $100 Cash

Congratulations to Barry Studder of Nelson, the winner of the $100 cash for filling out my online consumer questionnaire. Thanks to all who took the time to provide me with some feedback on my website.

Canadian Housing Forecast (Canadian Real Estate Association)

“MLS ® home sales activity forecast revised upward National activity to rise 8.1% over last year.”

National home sales are forecast to rise by 8.1 per cent to 523,100 units in 2007, and
will set new annual records in most provinces. Activity is forecast to edge slightly lower
in 2008, but will reach the second highest annual level on record in almost all provinces.
Prices are forecast to set new records in every province this year and in 2008, but price
increases will be smaller next year.

Resale housing markets will continue to become more balanced in British Columbia and
Alberta. Even so, markets will remain tightest in the Western provinces where annual
price increases will be greatest. In other provinces, the resale housing market is forecast
to be tighter in 2007 than it was last year, but it will become more balanced as housing
prices increase and higher interest rates further impact affordability.

The MLS® residential average price is forecast to set new records over the next two
years in all provinces. Price increases are forecast to become smaller as the resale
housing market becomes more balanced in 2008.

Resale housing activity is projected to ease gradually in all provinces. New listings are
forecast to rise further in all provinces except Alberta, where they are projected to retreat
after spiking in the second quarter.

“Resale housing activity was a juggernaut in the second quarter of 2007,” said CREA
Chief Economist Gregory Klump. “Record breaking sales activity in the first and second
quarters forced The Canadian Real Estate Association to revise its forecast upward.”

To see the full report produced by the Canadian Real Estate Association follow the link
http://www.crea.ca/public/news_stats/pdfs/aug2007_forecast_eng.pdf

Why Use a Realtor ®

A REALTOR®’s commitment to high standards of professional conduct works to the advantage of buyers and sellers alike.

A REALTOR® is knowledgeable about developments and trends in real estate.

A REALTOR® will get you the facts: comparable prices, neighborhood trends, housing market conditions and more.

A REALTOR® is committed to ongoing education to increase competence and effectiveness in real estate trading.

Every REALTOR® has been trained and tested. And REALTORS® are bound by a strict Code of Ethics and Standards of Business Practice that ensure fairness to all parties in a transaction.

A REALTOR®'s pledge is to be honest in disclosing property information and forthright in providing the facts needed to help you make one of the most important decisions of your life.

And remember; only a REALTOR®, a member of The Canadian Real Estate Association, has access to the Multiple Listing Service®, Canada's most powerful real estate marketing system.

Websites of Interest

White Water - Ski and snowboarding season is just around the corner. Get your early bird seasons passes online at www.skiwhitewater.com

Kootenay Mountain Culture Magazine - A must read.

Morning Mountain - Nelson's Newest Real Estate Development.

With summer almost behind us many people are shifting into fall recreational activities. If you are interested in hiking and climbing in the Nelson area you must check out www.summitreflections.com

For the avid gardeners who are keen to keep the gardens flourishing throughout the fall visit www.gardenwiseonline.ca for great tips and tricks.

Thinking about a trip to Nelson BC this fall? Check out the community website to see what the city has to offer: www.discovernelson.com

If you are considering making a purchase or sale in the area and want some expert advice on the local market, give me shout and visit www.NelsonLocal.com for more information about Nelson BC Real Estate.

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