The housing market in the Creston Valley is making a move.
Since the market change in 2008, we have seen prices come steadily downwards and a large amount of inventory for sale. Many rural listings were a "long term" project with multiple price reductions and few viewings.
We are now finding this year that prices seem to have stabilized and that there is a lack of inventory for all types of properties. In fact, we are looking at half of the normal amount of inventory on the market at this time of year from two years ago. Some properties are even seeing multiple offers, something we haven't seen for many years.
With a classic supply and demand scenario, we will likley see housing prices start to slowly creep upwards as competition becomes less and less.
The majority of our clientele is still from Alberta, but we are seeing an increase of Buyers from the Lower Mainland, northern BC and the United States. I have a feeling that we will have even more interest from Americans as a result of the interesting politics going on in thier country.
It should be an interesting year.