February 2012 Nelson Property Home Sales Report

March 16th, 2012

Two days ago the Real Estate Institute of NZ ( REINZ ),  officially released the sales figures covering the month of February 2012.

In difference to last month, Nelson was mentioned in their covering statement.

Nelsons mention was in that it followed the Canterbury region as having the shortest “days to sell” period of the 17 regions.

Here’s what the Institute reported;

Canterbury/Westland recorded the shortest days to sell at 35 days (-4 days), followed by Nelson/Marlborough with 37 days (-20 days) and Auckland with 38 days (+1 day).

A very healthy number of sales were transacted also.

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The usual large numbers of “family oriented” 3 bedroom properties were joined by a “pick-up” in the number of 2 bedroom sales.

In the month prior, the “days to sell” metric on 4 bedroom properties doubled to 87, however the number was just 1 up on Jan sales at 13 units. There was also a median increase from $455,000 up to $467,000 for these 4 bedroom dwellings.

In contrast to the four bedroom situation, the  situation with the 5 + bedroom (albeit a small number) solds, was almost the reverse. In January the days to sell figure was 63 compared to 26 in February.

Overall a month depicting as it was on the ground, quite busy both in terms of seller activity, and also buyer activity. On the buyer front it was notable, and Open Home registers certainly show this factoid out, the amount of “out of town” buyers visiting, and wanting to spend their money.

Quotable Value NZ have also just released their nationwide “Property Valuemap” covering Feb 2012, the chart above shows that Nelson is still holding steady… you can read the full report over at QV by clicking here.