Review of the property sales market in the Motueka area for October 2012

October 25th
By Alan Atkins, Ray White Motueka

[Editor's note: Ray White Motueka is the Principal Sponsor of Motueka Online, and one item of assistance it provides is a regular, general update on the state of property sales in the area. The reports do not contain any promotion of Alan's company, but are provided purely for informational purposes]

The national median house price increased by $1,000 from $370,000 in August, to $371,000 in September, an increase of 0.3 per cent. Auckland's median house price moved up 1.9% compared to August to a new record median price of $515,000. The national median house price is up 6.0% compared to September last year.

The REINZ reports median house prices across the top of the south region hit a new all-time high of $353,000, beating the previous high of $351,750 recorded in February 2008. Prices were up across the region but strongest in Motueka compared with to both August 2012 and September 2011.

Sales volumes compared to September 2011 were 6.8% higher, with notable increases in Nelson City. The number of days to sell improved by eight days compared to August, from 46 days to 38 days. The days to sell trend is now improving after flattening out last month.

Within the Motueka area, median days on market has improved significantly to 68 days in September. This shift, from 134 days in August, is indicative of the number of buyers versus number of available of listings. The median price has risen to $400,000, with 24 house sales recorded for September and 7 of those over $450,000.

The property market has now fully entered its traditional spring period, an active time in the market with new listings appearing as the weather improves. After finishing winter strongly, the market is indicating that we will continue to see good levels of activity in the market in the lead up to the end of the year.

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