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Otago Property Pulse factsheet – May 2011

Posted on: June 16th, 2011 | Filed in Otago Property Market Factsheet

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

Property sales in the Otago region at 215 in the month fell on a seasonally adjusted basis in May but were up 4% as compared to a year ago. The inventory of unsold houses on the market fell to 31 weeks, it now edges closer to the long-term average of 28 weeks of equivalent sales.

Median sales price of properties sold in the Otago region at $235,000 was up 2% as compared to a year ago, and unchanged from the prior month. The asking price expectation of new listings was down 1% as compared to a year ago at $264,286.

The level of new listings coming onto the market in May at 287 fell as compared to prior month and was down a significant 25% as compared to a year ago.

 

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