June 2012 Nelson Property Home Sales Report

July 12, 2012

With an increase in median price across the region of $14,000 (+4.2%) in June and an 8% increase in Nelson, the region mirrored what REINZ are reporting this morning in the Home Sales figures for the month of June 2012 in New Zealand.

Nelson City Median Sale Prices - June 2012

One notable aspect of this months results, quite visible in the chart this month above, is an increase in sales volume of larger 4 bedroom properties as compared to our usual high percentage of mainly 3 bedroom properties.

Motueka jumped into mention this period too, by witnessing an almost 20% increase in local sold pricing.

When compared to June of last year, the price increase was even more ambitious, demonstrating an increase of $21,750 (+6.6%), with REINZ noting that “all parts of the region contributing to the increase in the median price.”

Volumes were up slightly, and Days to Sell remained quite healthy, certainly a reflection of the reduced quantity of newer listings coming to market. Days to Sell for the core Nelson 3 bedroom market was certainly an indication of our current state of that market?

In summing up the REINZ local representative reported

The number of days to sell in the Nelson/Marlborough region eased by six days in June, from 49 days in May to 55 days in June. Compared to June 2011 the number of days to sell also eased, from 45 days to 55 days. The trend in the number of days to sell had been improving, but is now turning towards an easing trend.
The trend in the median price has turned upwards after an extended period going sideways, although the volume trend continues to move sideways. There has been some weakening of the trend in the days to sell, which gives the Nelson/Marlborough real estate market an overall steady trend.

All in all a healthy but steady month.

DATA – www.reinz.co.nz