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West Coast Property Pulse factsheet – May 2012

Posted on: June 18th, 2012 | Filed in West Coast Property Market Factsheet

The West Coast district region property pulse factsheet for May 2012 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 49 in the month rose on a seasonally adjusted basis in May and were up 29% as compared to a year ago. The inventory of unsold houses on the market rose slightly at 78 weeks, yet still lies well below the long-term average of 106 weeks of equivalent sales.

Median sales price of properties sold on the West Coast at $215,000 were up 14% as compared to a year ago but down on the prior month. The asking price expectation of new listings though was up a significant 13% as compared to a year ago at $285,610.

The level of new listings coming onto the market in May at 121 was up as compared to prior month and up a significant 75% as compared to a year ago.

 

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