New data confirms it's a seller's market in Otago, with a higher number of properties being bought for more money and in less time.

Otago has 384 new listings for this month, showing a 16.7% increase on a year ago.

The local inventory is 13 weeks which is how long it would theoretically take to clear all unsold properties on the market without any new listings.

That's slightly less than the national average of 14 weeks, and half the region's long term average of six and a half months.

The median selling price in the region is just over $320,000.