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Nelson – Property Pulse factsheet – March 2011

Posted on: April 18th, 2011 | Filed in Nelson Property Market Factsheet

The Nelson region property pulse factsheet for March 2011 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).

Property sales at 147 in the month rose on a seasonally adjusted basis in March but were down by 7% as compared to a year ago. The inventory of unsold houses rose sharply to remain well above the long-term average at 48 weeks of equivalent sales.

Median sales price at $340,000 was down 4% as compared to a year ago and down from the prior month. The asking price expectation of new listings was in contrast up 3% as compared to a year ago at $427,727.

The level of new listings coming onto the market in March at 273 grew as compared to February but was down 6% as compared to a year ago.

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