May 2013 Nelson Property Home Sales Report

June 12th, 2013

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

Nelson City saw its median price creep up to $362,000. (REINZ – $362,250)

It was another busy month too, with 96 dwellings changes hands.

Sections sales were a steady 8 units.

The Auckland market still seems to be powering ahead of the rest of the country as the chart from QV NZ depicts. QV NZ report that Nelson City is up 3.9% in prices over the last 12 months, but only 2.9% overall since the 2007 market peak.

Locally the inventory levels in Nelson City seem to be definitely mirroring what is happen across other parts of the country….

SOURCE: (NZ Property Report May 2013)

…..and that is, as in Nelsons case above at 23 weeks, reducing. Be aware the above factoid takes into account the Tasman region too, so really is being a bit unfair on Nelson City in that aspect. And the Institutes CEO puts it like this

REINZ Chief Executive, Helen O’Sullivan noted that “both investors and first home buyers are active in the market, and vendors remain well informed about the market. However, the region is seeing an increasing shortage of listings for properties in the $250,000 – $400,000 bracket, the most active part of the market.”
Exactly how it feels out there on the street.