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Southland Propert Pulse factsheet – May 2011

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

The Southland 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 Southland at 160 in the month rose significantly 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 fell to 50 weeks to remain well above the long-term average of 32 weeks of equivalent sales.

Median sales price at $180,500 was down 8% as compared to a year ago but down on the prior month. The asking price expectation of new listings was down 8% as compared to a year ago at $228,436.

The level of new listings coming onto the market in May at 272 rose as compared to April but was down a significant 19% as compared to a year ago.

 

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