The Otago region property pulse factsheet for May 2012 is published using data from Realestate.co.nz and REINZ (Real Estate Institute of NZ).
Property sales in the Otago region at 254 in the month rose slightly on a seasonally adjusted basis in May and were up 18% as compared to a year ago. The inventory of unsold houses on the market slipped slightly 28 weeks, this level remains in line with the long-term average of 29 weeks of equivalent sales.
Median sales price of properties sold in the Otago region at $229,000 was down 3% as compared to a year ago, this hardly effected the slow but steady rise through the year and a half. The asking price expectation of new listings remained steady as compared to the prior month as shows a 4% rise as compared to a year ago at $277,850.
The level of new listings coming onto the market in May at 357 was up on April, and up a more significant 24% as compared to a year ago.
