2026 Market Update

The Assessment vs. Reality Gap

BC Assessments recently went up by an average of 3% across Nelson and the surrounding rural areas. If that feels out of sync with current headlines, you aren't alone. To understand why, we have to look at the "Assessment Window":

• The Window: BC Assessment looks at data from July 1 to June 30. During that specific period, prices actually rose by 4.6%.
• The Shift: However, in the second half of 2025 (July to December), the market saw a significant 8.3% decrease in sold prices.
• The Result: While the 2025 calendar year ended with an overall price decrease of 3.7%, your assessment is still reflecting the growth from early last year.

2025 Sales Breakdown

Our local market remains resilient, with a total of 360 properties sold—a 7.8% increase in volume over the previous year. Here is how those sales were distributed:

Average Sold Prices

While volume is up, prices have softened across all categories, reflecting the broader market trend we saw in late 2025:

• Nelson City: Residential prices fell 4.4% to an average of $686,850.
• Nelson Rural: Residential prices fell 2.2% to an average of $724,291.
• Rural Land: Prices dropped 10.4%, as rising building costs make raw land less appealing than existing homes.

Note: Rural residential averages are often higher due to large acreages and premium waterfront properties that hold extra value and push the averages higher.We still find comparable houses to be priced higher in town.

Market Outlook

Despite the year-over-year price decrease, the Nelson real estate market remains healthy. Sales volume is up 3.8% and the average days on market has remained stable. This year's overall average sold price of $649,705 remains the second-highest in the last five years, showing that our community is as resilient as ever.

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Market value is best determined by recent comparable sales rather than assessments alone. Contact us for a custom valuation of your property.