Daily Archives: July 14, 2010

Nelson Home Sales Report for June 2010

July 14th 2010

REINZ (Real Estate Institute of NZ) this morning released the official New Zealand figures for home sales covering the month of June 2010.

Reflecting what locals already know, and what I reported a few posts back, Nelson saw a drop off in sales. There has been a corresponding drop off in listings over this time too, from around 350 down to the 320’s. I’d say, stable.

And although NZ figures pushed the June median to the highest ever recorded, there was a noticeable drop off in volumes all around.

Nelsons median crept up ever so slightly from $323,500 to $325,250 from the prior month.

Peter McDonald, REINZ President says

The national median number of days to sell increased from 43 in May to 45 in June but was over 60 days in Waikato/BOP, Hawkes Bay, Manawatu / Wanganui and Taranaki, and 86 days in Central Otago Lakes which suggests significant regional differences in the state of the property market

Peter hit it on the head with that last sentence as Nelson definitely went the other way, and recorded shorter days to sell as you can see on the chart.

In so saying the headline here says it for me……

Nelson Mail Article - click for story.....

Nelson does it again……

You’ll notice below the numbers that show our local “days to sell” marry up with what the June NZ Property Report spoke about at the beginning of the month.

REINZ Reported Sales - June 2010 (...CLICK TO ENLARGE)

REINZ Reported Sales - June 2010 (...CLICK TO ENLARGE)

Here’s the official REINZ statement on Nelson/Marlborough.

Nelson/Marlborough

The median price for homes in the Nelson/Marlborough district increased to $347,250 from $330,000 in May and is also nearly 4 per cent up on the June 2009 median of $334,000.  But at 150, residential sales are down on the 230 in May and the 197 in June last year.

Sales in Nelson City fell to 50 from the 88 houses sold in May (June 2009: 77). But the median price increased from $323,500 in May to $325,250 last month (June 2009: $352,000).

The median price of a Nelson Council Zone house firmed to $352,500 from $350,500 in May but is still down on the June 2009 median $357,500. The number of sales fell from 158 in May to 98 last month (June 2009:130).

In Marlborough the median price increased to $312,000 last month from $306,000 in May (June 2009: $270,000). At 52, sales were down on the 72 in May and fewer than the 67 in the same month last year.

SOURCE – www.REINZ.co.nz