The Southland region property pulse factsheet for July 2012 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).
Property sales in Southland at 134 in the month was down when seen on a seasonally adjusted basis, there has been a steady slowing of sales through the past 5 months since the very strong activity seen in February. In actual terms sales were down 5% as compared to a year ago. The inventory of unsold houses on the market were up slightly at 36 weeks of equivalent sales, this represents 5% fall in inventory as compared to July last year and is above the long term average of 34 weeks.
Median sales price at $185,000 slipped slightly from June, and was the same as compared to a year ago. The asking price expectation of new listings was down by 3% as compared to a year ago at $234,123.
The level of new listings coming onto the market in July at 245 fell as compared to June but was up 8% as compared to a year ago.
This leaves the Southland region finely balanced between a seller’s market and a buyer’s market.