Review of the property sales market in the Motueka area in November 2014

November 17th
By Alan Atkins, Ray White Motueka

[Editor's note: Ray White Motueka is the Principal Sponsor of Motueka Online, and one item of assistance the company 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]

REINZ, the most up to date source of real estate data in New Zealand, announced today that there were 6,608 dwelling sales across NZ in the month of October, up 11.8% compared to September.

The national median price was $430,000 for the month of October, and an increase of $10,000 or 2.4% from September 2014.

REINZ chief executive Helen O'Sullivan says, "There has been a noticeable increase in the level of activity in the real estate market in October, with sales up almost 12 percent compared to September.

"Activity has increased across the country, with the largest monthly sales increases in the South Island. We have also seen an increase in listings across most of the country, although in many places the number of listings remains below that of previous years."

For the Nelson Marlborough region the median price rose by $13,250 (+4%) compared to September, with prices rising 13% in Marlborough/Kaikoura and 4% in Nelson.

Helen O'Sullivan noted that "the market has become more active over the past month, with both first home buyers and investors looking to buy. Investors are providing some competition to first home buyers, although an increase in the number of listings is assisting both groups."

The median price trend is now easing, with the volume trend falling. The days to sell trend is also now falling, with the overall trend for the region also now easing.

Our local Motueka market has continued on with an increase in listings during October matched well to the increase in sales.

The median days on market has dropped from 52 in September to a very brisk 38 in October. The median sale price has held around the $350,000 mark.

With the sales and listing activity continuing on into November, the market shows no signs yet of any slowdown as we approach the summer.

(Statistics quoted in this article are sourced in-house and from REINZ and Realestate.co.nz. While we endeavor to keep the figures as accurate as possible they cannot be guaranteed.)

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