Nelson Home Sales Report August 2009

Friday 11th September 2009

The Real Estate Institute of NZ will release their updated sales figures for August 2009 on Monday along with the stratified index numbers.

Data up to today indicates median price was down on the previous month of July 2009, but considering how many 2 bedroom properties sold, it was probably not surprising.

Volume/number of properties sold in August 2009 was down a couple of units on the previous month of July 2009 period, however days on the market (days to sell) was almost the same as July 09.

Continuing the trend of recent months, another 10 residential sections were sold, but the median days to sell of 147 was nothing to write home about. One good point on the section sales was that the % of asking price achieved median was 100%, so that’s definitely encouraging. Let the building begin.

UPDATED 17th Sept – above chart has error – median price for 1 bed is $185,000

Larger Version of above graphic here.

Above is a graphic illustrating the equivalent amount in the nominated countries currency that it would cost to have brought a Nelson median priced home in August 2009.

In summary its pretty obvious to see where all the activity is, with nearly 3/4 (73.9%) of all local buying activity being below NZD$400,000, with 63% under NZD$350,000.

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