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Otago – Property Pulse factsheet – March 2011

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

The Otago 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 259 in the month rose slightly on a seasonally adjusted basis in March but were down 4% as compared to a year ago. The inventory of unsold houses rose to remain above the long-term average at 37 weeks of equivalent sales.

Median sales price at $215,000 was down 7% as compared to a year ago, and down on the prior month. The asking price expectation of new listings was up 4% as compared to a year ago at $278,625.

The level of new listings coming onto the market in March at 412 fell as compared to February but was down a significant 18% as compared to a year ago.

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