Property sales in the Marlborough region remained steady on a seasonally adjusted basis with a 5.4% increase from May to June. A total of 52 properties were sold in June compared to 67 in June last year. In the first half of 2010 a total of 368 properties were sold down 24.4% on the same period in 2009.
The level of inventory of houses on the market in June rose following the sharp fall in May. The inventory as measured on the equivalent weeks of sales rose from 67 to 69 weeks. This level of inventory is significantly higher than the long term average of 46 weeks. This would indicate that the market is favouring buyers.
Property prices for the Marlborough region are included in the broad Nelson / Marlborough regional median property price, in June this price was $347,250 up 4% on the median price in June 2009.