April 2013 Nelson Property Home Sales Report

May 13th, 2013

The Real Estate Institute of NZ (REINZ) has just released consolidated sales figures for properties sold NZ wide in April 2013.

Although the Nelson/Marlborough region saw a drop in median price to $339, 000 from last months $350,000, part of that could have been attributed to the large amount of new listings coming to market, offering buyers much more choice than usual.

As I mentioned, anecdotally wise,  in last months review…

“local conveyancers report (ed) this week that March was busy, and 2 mentioned it still seemed to be the same for the start of April.”

So it was with Nelson recording 105 property sales in April, matching March 2013s number exactly.

In the Institutes regional commentary;

Sales volume compared to April 2012 was 34% higher with an almost doubling of sales in Nelson City and strong increases in Richmond and Motueka. Compared to March sales volumes fell by 14% with sales flat in Nelson City, but falling elsewhere across the region.

The number of days to sell improved by five days compared to March, from 40 days in March to 35 days in April. Compared to April 2012 the number of days to sell improved by eight days. Over the past 10 years the median number of days to sell in April across the region has been 40 days.

In comparision to the above informations, DOM (Days on Market) for Nelson City dropped 2 days as an average from 32 to 30 days.

However the standout takeout from this months charts is that Nelson sold twice as much (105 Vs 55) properties in April 2013 as it did in April 2012.

By itself its an interesting figure, and not too much to worry about….more worrying for home buyers is the headline of Tony Alexanders latest 13th May 2013 BNZ-REINZ Residential Market Survey

Lots of buyers, fewer vendors.
Many in Real Estate have seen this before.

And that friends, that was the month that was, April 2013.