Property sales in the Nelson region rose slightly in September; as measured in a seasonally adjusted basis volumes were up 3.7%. There were 124 sales in September compared to 104 in August. Over the first 9 months of 2010 a total of 1,137 properties have been sold compared to 1,309 in the same period in 2009.
The inventory of properties on the market in September rose again to 32 weeks of equivalent sales. This level of inventory is above the long term average of 28 weeks. This would indicate that the market is slightly favouring buyers.
Property prices for the Nelson are included in the broad Nelson / Marlborough regional median property price, in July this price was $330,000 down 2.1% as compared to September 2009.