The Marlborough 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 Marlborough region at 82 in the month was up strongly on a seasonally adjusted basis in July and was up a very significant 32% as compared to a year ago. The inventory of unsold houses on the market fell to 52 weeks of equivalent sales. The current level of inventory sits just under the long-term average of 55 weeks indicating a trend to a sellers market.
Median sales price for properties sold in the Marlborough region at $266,000 was down 8% as compared to a year ago and down on the prior month. The asking price expectation of new listings was also down 9% as compared to a year ago at $361,910.
The level of new listings coming onto the market in July at 153 fell from the June level of 163 but was up strongly by 52% as compared to a year ago.
This data indicates that the Marlborough region is moving towards a market that favours sellers given the level of sales activity and low inventory; however the strong rise in listings matched to falls in sales and asking price favours buyers, thereby indicating that the market is well balanced.