Last Friday, REINZ (Real Estate Institute of NZ) released the official figures for home sales covering the month of April 2010.
From a Nelson perspective we saw an increase in the overall median price, however NZ on the whole saw a 1.2% fall in April, when compared to the previous month.
The Institute said;
Two of the largest annual percentage increases were in Auckland, up 8.0 percent to $470,000, and Nelson/Marlborough up 8.8 percent to $339,500. However the biggest rise was in Northland, up 10.4 per cent from $290,000 to $320,250.
Like last months 26 days, 2 bedroom property sales for the April month saw a days to sell of just 24 days.
Nelson sales were more evenly spread across the 2 – 3 – 4 bedroom market in comparison to the previous 2 months when 3 bedroom sales dominated so much.
More a case of steadiness returning to the market I’d say.
In their report on Nelson City homes, the Institute reported that 78 houses sold in Nelson City in April, (vs 92 the month before, March) and that the median price increased to $355,000. (vs $327,500 the month before)
It great to see green return on year on year basis, and to see the price edging up again.
Here’s the official REINZ word on Nelson/Marlborough.
After easing in February down to $330,000, the median price for a Nelson/Marlborough home recovered to $337,000 in March and is up again to $339,500 an 8.8 per cent increase on the April 2009 median of $312,000. At 206, residential sales were down a little on the 223 in March and the 241 in April last year.
Sales in Nelson City decreased to 78 from the 92 houses sold in March (April 2009: 75). But the median price increased to $355,000 from $327,500 in March (April 2009: $295,000).
The April median price of $367,000 for a Nelson Council Zone house is up on the March median of $353,250 (March 2009: $320,500). But sales decreased from158 in March to 131 last month (April 2009:142).