Property sales in the Marlborough region fell slightly in May on a seasonally adjusted basis. In May on a seasonally adjusted basis there were 61 sales as compared to 66 in April. The level of sales in 2010 lags the sales in 2009, in the first 5 months of 2010 total sales amounted to 276 as compared to 368 in 2009 – a 25% decline in sales.
The level of inventory of houses on the market in May fell from the peak in April. The inventory as measured on the equivalent weeks of sales fell from 82 weeks in April to 67 weeks in May. 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 May this price was $330,000 down very slightly by 0.1% on May 2009 price.
The Marlborough region – Property market pulse factsheet – June 2010 is available as a pdf download document