Realtors are very hard working professional individuals! Please go to the link to read some
wise words by by Marc Davidson! https://1000watt.net/dear-agent/
MarketFest takes place tonight Friday July 26 on the 200 and 300 blocks of Baker Street in downtown Nelson from 6:00 to 10:30 pm.
Baker Street is transformed into a lively night market featuring 100 vendors, live music, dance performances, kids entertainment and more.
If you are looking for some great real estate too, continue on down Baker street and have a look in Re/MAX Realty’s windows to have a look at all of the great properties on offer!
Tonight, Thursday July 26th:
Torchlight Brewery, the Adventure Hotel and Baker Street Blues will be featured.
Hope to see you there!
Nelson RE/MAX RHC is proud to be the sponsor for the U10 Girls soccer team.
This talented young ladies team deserves everyone’s applause!!
Tom Brach, (Bonnington Water Improvement District) confirmed that there is plenty of water to go around in Bonnington! Present day… there is a fully polished water system in Bonnington comprised of two 100,000 gallon storage tanks for use by the community. Since over-consumption was the issue; underground high-tech meters were installed at each property line to monitor usage. The level of water use has dropped since the installation of the meters. For further information please go to their informative website.
A diverse collection of artwork may be viewed at ViewPoint artGallery’s latest gallery reception.
Kootenay artists explore the beauty of spawning salmon and the wildlife that rely on them.
Gallery Reception: July 19 (4-6pm,) 814 Hwy 3A
This Thursday July 18th features Phantom Power, a Tragically Hip Cover Band,
There will be food by the Hume Hotel and Spa and Cold beer from Backroads Brewery.
Hope to see you @ 91 Baker Street today after work; at this family centered event!
How do you turn a rainy day into sunshine? You eat cake! Belated birthday wishes were extended today to lovely Laura Salmon, one of our RE/MAX Nelson realtors. Laura is friendly, outgoing and always ready to answer any questions you may have regarding real estate.
Happy Birthday Laura!! You rock!!
Ottawa, ON, July 15, 2019 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales were little changed in June 2019 from the previous month.
- National home sales edged back 0.2% month-over-month (m-o-m) in June.
- Actual (not seasonally adjusted) activity ticked up 0.3% year-over-year (y-o-y).
- The number of newly listed homes rose 0.8% m-o-m.
- The MLS® Home Price Index (HPI) climbed 0.3% m-o-m in June but was down 0.3% y-o-y.
- The actual (not seasonally adjusted) national average sale price was up 1.7% y-o-y.
Home sales recorded via Canadian MLS® Systems were little changed in June 2019 following a string of monthly gains recorded in March, April and May. Although running close to its 10-year average and up nearly 10% from the six-year low reached in February 2019, activity remains well below levels recorded over much of 2015, 2016 and 2017. (Chart A)
The nearly unchanged national tally in June was the result of an even split between the number of local markets where sales were up and those where they were down. Larger monthly gains were generally focused in the province of Quebec and in Southern Ontario. Those gains were offset by declines in a diverse mix of markets across Canada, including Greater Vancouver (GVA), Calgary, Halifax-Dartmouth and the province of Newfoundland and Labrador.
Actual (not seasonally adjusted) sales activity edged up 0.3% compared to June 2018, with gains in Greater Toronto (GTA) and Montreal offsetting declines in B.C.
“Sales activity is strong in New Brunswick where I do business, but it’s a very different story in B.C., Alberta and Saskatchewan,” said Jason Stephen, CREA’s President. “All real estate is local. Nobody knows that better than a professional REALTOR®, who is your best source for information and guidance when negotiating the sale or purchase of a home,” said Stephen.
“There’s a growing divergence in Canadian housing market trends between eastern and western Canada,” said Gregory Klump, CREA’s Chief Economist. “While sales activity in Canada’s three westernmost provinces appears to have stopped deteriorating, it will be some time before supply and demand there becomes better balanced and the outlook for home prices improves.”
The number of newly listed homes edged up 0.8% in June. Stable sales and a slight increase in new listings caused the national sales-to-new listings ratio to ease marginally to 57.1% in June from 57.7% posted in May. This measure remains within close reach of its long-term average of 53.5%.
Considering the degree and duration to which market balance readings are above or below their long-term averages is the best way of gauging whether local housing market conditions favour buyers or sellers. Market balance measures that are within one standard deviation of their long-term average are generally consistent with balanced market conditions.
Based on a comparison of the sales-to-new listings ratio with the long-term average, over 80% of all local markets were in balanced market territory in June 2019, the largest share in over three years.
The number of months of inventory is another important measure of the balance between sales and the supply of listings. It represents how long it would take to liquidate current inventories at the current rate of sales activity.
There were 5 months of inventory on a national basis at the end of June 2019. While this is its lowest level since January 2018, this measure of market balance remains within close reach of its long-term average of 5.3 months.
While national measures of market balance are currently close to their long-term averages, which indicates a good balance between supply and demand, there are significant regional variations.
The number of months of inventory has swollen far beyond long-term averages in Prairie provinces and Newfoundland & Labrador, giving homebuyers ample choice in these regions. By contrast, the measure remains well below long-term averages in Ontario and the Maritime provinces, resulting in increased competition among buyers for listings and fertile ground for price gains.
Although the seasonally adjusted Aggregate Composite MLS® HPI rose 0.3% in June 2019 from the month before, it was still running 1.1% below the peak reached in December 2018. Looking past monthly variations, the overall trend has remained stable since March amid divergent regional trends. (Chart B)
Seasonally adjusted MLS® HPI readings in June were up from the previous month in 9 of the 18 markets tracked by the index, with virtually all of the gains recorded in housing markets east of the Prairie region.
Prices were flat on a m-o-m basis on Vancouver Island and in Calgary, Edmonton, Regina, Saskatoon and Moncton. Material declines were limited to the GVA (-1.3%), the Fraser Valley ( 0.8%) and the Okanagan Valley (-0.5%).
By contrast, monthly gains were posted in Barrie (+1.4%), Hamilton (+1.3%), Niagara (+1.2%), Guelph (+1.1%), Ottawa (+0.7%), Greater Montreal (+0.7%), the GTA (+0.6%) and Oakville (0.3%).
The actual (not seasonally adjusted) Aggregate Composite MLS® Home Price Index (MLS® HPI) edged down by -0.3% y-o-y in June 2019. For the second month in a row, all benchmark property categories tracked by the index posted y-o-y declines.
Two-storey single-family home prices were little changed from last June, edging back 0.1%. By comparison, one-storey single-family home prices posted the largest y-o-y decline (-0.8%) among benchmark property categories. Meanwhile, townhouse/row prices were down by 0.7% y-o-y and apartment unit prices edged back by 0.4%.
Y-o-y trends continue to vary widely across the country, with the main theme being a growing divergence in trends between eastern and western Canada.
Results remain mixed in British Columbia, with prices down on a y-o-y basis in Greater Vancouver (-9.6%), the Fraser Valley (-6.6%) and the Okanagan Valley (-0.8%). Meanwhile, prices edged up 0.5% in Victoria and climbed 4.2% elsewhere on Vancouver Island.
Among Greater Golden Horseshoe housing markets tracked by the index, MLS® HPI benchmark home prices were up from year-ago levels in Guelph (+6.8%), the Niagara Region (+6.7%), Hamilton-Burlington (+5.4%), the GTA (+3.6%) and Oakville-Milton (+3%). By contrast, home prices in Barrie held below year-ago levels (-2.4%).
Across the Prairies, supply remains historically elevated relative to sales and home prices remain below year-ago levels. Benchmark prices were down by 3.9% in Calgary, 3.2% in Edmonton, 4% in Regina and 1.1% in Saskatoon. The home pricing environment will likely remain weak in these cities until demand and supply return to better balance.
Home prices rose 8.3% y-o-y in Ottawa (led by a 13.2% increase in townhouse/row unit prices), 6.7% in Greater Montreal (led by an 8% increase in apartment unit prices), and 1.3% in Greater Moncton (led by an 18.4% increase in apartment unit prices). (Table 1)
The MLS® HPI provides the best way to gauge price trends, as averages are strongly distorted by changes in the mix of sales activity from one month to the next.
The actual (not seasonally adjusted) national average price for homes sold in June 2019 was just under $505,500, up 1.7% from the same month in 2018.
The national average price is heavily skewed by sales in the GVA and GTA, two of Canada’s most active and expensive housing markets. Excluding these two markets from calculations cuts almost $106,000 from the national average price, trimming it to less than $400,000.
– 30 –
PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month.
CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.
MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.
The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry trade associations, representing more than 130,000 REALTORS® working through some 90 real estate Boards and Associations.
Further information can be found at http://crea.ca/statistics.
For more information, please contact:
Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
Nelson and District Chamber of Commerce is hosting Thursday Night Socials. They started on July 4th and run to July 26th.
The socials are an all ages event brought to you in part by our three Craft Breweries: Nelson Brewing Company, Backroads Brewing and Torchlight. They will take turns hosting and partner with food establishments including The Adventure Hotel, Hume Hotel and Spa, Jackson’s Hole and Grill and Canadian 2 for 1 Pizza.
Come out to The Station, 91 Baker Street at the west end of Baker in Railtown.
Hope to see you there!