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West Coast Property Pulse factsheet – May 2011

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

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

Property sales on the West Coast of the South Island at 38 in the month rose on a seasonally adjusted basis in May and were up a significant 31% as compared to a year ago. The inventory of unsold houses on the market fell to 120 weeks to remain well above the long-term average of 106 weeks of equivalent sales.

Median sales price of properties sold on the West Coast at $188,000 was up 11% as compared to a year ago and up on the prior month. The asking price expectation of new listings though was down 9% as compared to a year ago at $250,481.

The level of new listings coming onto the market in May at 69 fell as compared to prior month and was down 20% as compared to a year ago.

 

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