The property market in Nelson is settling down as winter approaches, but it’s been a busy three months on the residential front.
“In February there were 96 sales, and the median sell price was $449,000, while there were 98 sales in March, with a median sell price of $483,250. It eased in April with 74 sales, with a median sell price of $480,000,” she says.
Sales included 42 sections, with a median circa of $250,000 and there has been in increase in the number of buyers opting to build their homes, taking advantage of incentives, Caroline says.
“A lack of existing quality mid-bracket homes are seeing buyers building to get the home they want.”
During the past three months, 90 per cent of properties were marketed using traditional methods, while 10 per cent were marketed via auction or tender.
“Auction was the most popular [of the two], and Platinum Blue Ltd [Harcourts Nelson] has had a 100 per cent success rate with auction so far for 2017,” Caroline says.
Caroline notes that RVs are becoming irrelevant when it comes to finding value in today’s marketplace, and Harcourts Nelson continues to see high ratios sold above RV, she says.
“This is now the norm, but not a given, to expect 25 to 35 per cent above on all property.”
Owners are now seeing value in preparing their homes for the market, as they look for the top dollar that comes with a well presented home, Caroline says.
A newcomer to the Nelson real estate industry was Ana Stevenson, with her business Open Home Ready, which takes care of everything from household cleaning to full staging and house makeover.
“We have had incredible success for owners using this service,” Caroline says.
Despite a busy first quarter, the market appears to be simmering down for the cooler months.
“Winter is now upon us and owners appear to be hunkering down, with fewer new listings coming to the market, but the ones that do are motivated sellers at this time of year,” Caroline says.