The Hawkes Bay region property pulse factsheet for July 2012 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).
Property sales across the Hawkes Bay region at 210 in the month represented a very slight fall on a seasonally adjusted basis in July and at the same time represented a healthy 11% rise as compared to a year ago. The inventory of unsold houses on the market remained at 36 weeks, below the long-term average of 42 weeks of equivalent sales.
Median sales price of properties sold in the Hawkes Bay at $2695,500 was down 2% as compared to a year ago but up slightly from the prior month. The asking price expectation of new listings was up just 1% as compared to a year ago at $332,568.
The level of new listings coming onto the market in July at 387 was marginally up from prior month and represented a significant 30% increase as compared to a year ago.
This data indicates that the Hawkes Bay region is fairly stable at this time with a good level of demand witnessed by strong sales over recent months, a good flow of new listings with a stable asking price and selling price. Whilst the inventory is below the long term average the extent of inventory is not significantly favouring buyers or sellers one way or another.