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Dunedin Market Report - November 2016

November 2016 - Dunedin Property Market and House Prices Reports

We have continued through October with the same shortage of listings but there has been a noticeable increase in the past two weeks. There have been 204 sales for the month, down from 232 in October 2015. The median sale price has increased significantly this month from $311,000 last month to $340,000, a new record for Dunedin City. This is up 15% from November last year at $289,000.

The median number of days to sell is still low at 22 days and is likely to remain at that level until at least Christmas with the new listings being snapped up by buyers waiting in the wings.

Listing numbers are still relatively low with 535 on Realestate.co.nz and TradeMe at 353.

It is interesting to see the dramatic 54% reduction in sales under $200,000 from 39 down to 18 and in the next segment under $300,000 there has been a 33% reduction in the number of sales with the increase in sales numbers taking place upwards of $300,000.

Now is a good time to be talking to our sales team about listing your property to maximise the New Year market which is traditionally one of the best times of the year for a great sale at a great price

Joe Nidd AREINZ
Owner/Principal

Liz Nidd FREINZ
Team Mentor

 

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