13th December 2009
During November the local Nelson Property market certainly saw some sales.
Since Nov 2008 only March 2009 with 109 sales, has been higher.
ABOVE GRAPHIC – NZ Property Report November 2009
As can be seen from the above, asking prices in our region increased more than anywhere else in the South Island.
ABOVE GRAPHIC – NZ Property Report November 2009 – New Property Listings
There was a slight improvement in listings coming onto the Nelson market in November 2009, however “on the ground” it didn’t really have a noticeable effect on the local market over those 4 weeks. The feeling was still one of a shortage of listings to satisfy the amount of buyers out there on the street.
Really nothing conclusive about this chart, more a steady as she goes snapshot.
Volume was considerably up on November period of twelve months ago, 100 last month vs 59 sales in November 2008.
A slight nudge upwards in the median price from last month to $320,000 (based on preliminary figures only)
“Days taken to Sell” blew out a bit compared to Oct, 43 vs 28 (again based on preliminary figures) but up on the 57 days it took back a year ago in Nov 08.
CHART – click on above for larger version
Sections still rebounded …….with 14 sold in November 2009, off the previous months 27 units, but still a healthy number nonetheless.
In our local predominantly family market 3 bedroom homes dominate, taking out 55% of the units by percentage last month. That said as the above graphic depicts, there’s still a healthy 2 bedroom one too.
Overall it seems that the volume of 2 and 3 bedroom units/homes sold detracted volume from the 1 bed and 4 / 5+ bedroom ends of the market.
Official REINZ November 2009 figures should be out in the next few days, after which I may update these.