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Coromandel – Property Market Pulse factsheet – October 2010

Posted on: October 21st, 2010 | Filed in Coromandel Property Market Factsheet

Realestate_DownloadNowThe Coromandel region Property Market factsheet for October 2010 can be downloaded by clicking this icon.

Property sales in the Coromandel recovered in September from what had been a very serious midwinter decline. On a seasonally adjusted basis sales shot up by 121% with 35 actual sales compared to 37 in total in July and August combined. For the year to date sales are well down with 360 in 2010 vs. 442 in 2009.

Coromandel seasonally adjusted property sales - Sep 2010The inventory of houses on the market shot up again in September to 289 weeks – an all time high. This level of inventory is now way ahead of the long term average of 172 weeks. This would indicate that the market is fairly well balanced between buyers and sellers.

Coromandel_inventory_of_unsold_properties_-_Sep_2010

Property prices for the Coromandel are included in the broad Auckland regional median property price, in September this price was $450,000 a level that has been fairly flat for the past 5 months. As compared to a year ago prices are down 1.1%.

Auckland region median house price - Sep 2010

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