Dunedin Property Report - April 2024 (March stats) Dunedin’s median price remained at $595,000 in March, an increase of 4.4% year-on-year.  The median number of days on the market for properties sold in March was 30 which is 25% less time to sell than in March 2023 and a very good indicator of the improved market sentiment, despite buyers having significantly more property to choose from. The number of properties currently listed on RealEstate.co.nz is 707, up from 677 this time...

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Dunedin Property Report - March 2024 (Feb stats) The median price in February was $590,000, up from $570,000 in February 2023, continuing the steady price trend of the past year. The median number of days on the market was 39 which is 23 days fewer than last February. This shows the pickup in activity in the Dunedin market, despite there being more listings to choose from. The number of residential sales in February was 186, which is an extraordinary 39.8% increase from February 2023 and the...

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Dunedin Property Report - February 2024 (Jan stats) The median price in January was $575,000, up significantly from $515,000 in January 2023. The median number of days on the market was 53 which is seven days fewer than last January, reflecting the period of inactivity over the holiday period. The number of residential sales was just 84, up on the 70 sold in January 2023 but characteristically low, again due to the gap in activity over the break. The most significant metric this month is the...

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Dunedin Property Report - January 2024 (December stats) The median price in November was $613,000 continuing the trend of modest price increases at the end of 2023. The median number of days on the market increased just one day to 36 and anecdotally, buyer interest continued to increase leading into Christmas. The number of sales reflects the strong increase in activity with a 25% increase when compared with December 2022, at 167 sales for the month. After an extended period with the number...

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Dunedin Property Report - December 2023 (Nov stats) The median price in November was $597,000. This is in line with the trend of a steady median around $600,000 as we head into 2024. The median number of days on the market remains quite low at 35, although well priced properties are often selling within two to three weeks of coming to the market. The number of sales was up almost 15% from last month with 188 sales recorded. This is also an increase from 170 in November 2022. The number of...

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Dunedin Property Report - November 2023 (Oct 2023 stats) We have seen a substantial drop in the number of days to sell, with a median sale time in October of just 31 days. This is more than a 50% reduction from 63 days in March 2023. The median price held steady at $595,000. There were 162 sales in October, an increase of around 23% from September. We expect this activity to continue increasing for the following reasons: The number of available listings continues to increase (534 up from...

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Dunedin Property Report - October 2023 (Sept 2023 stats) There has been a marked increase in buyer commitment in September with the median days on market dropping from 44 down to 36. This is a substantial improvement from 63 days in March. The experience at the frontline reinforces this, with agents reporting higher open home numbers and more cases of multiple offers at deadline. There are also more buyers with unconditional offers returning to the market, indicating that the increased...

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Dunedin Property Report - September 2023 (August 2023 stats) The most notable result for August was the increase in sales, which rose by 33% from 121 in July to 161 in August. This reinforces anecdotes from agents of increasing buyer activity. The bulk of this activity is in the mid-to-lower value range. To illustrate this point, around 80% of sales in August were below $750,000. This was reflected in the median price of $555,000 which is down on recent months but in keeping with the trend...

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Dunedin Property Report - August 2023 (July 2023 stats) The median price increased to $625,000 in July, a significant increase from $585,000 in June but still in-line with the plateau in prices we have seen recently when taking into account monthly variability. There were 117 sales in July which is low for this time of year but not surprising given the shortage of new listings coming to the market. The most significant change has been the median days to sell which has dropped to 39 in July...

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Dunedin Property Report - July 2023 (June 2023 stats) There was a modest increase in the median sale price in June, up to $585,000 from $565,000 in May. This reinforces the trend of a plateau in Dunedin prices since the beginning of the year. There were 147 sales in June which is up from 126 in June 2022. This supports what we are seeing at the front line with buyers acting more decisively than this time last year. The median days on the market held at 49, up two days from May and up just one...

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Dunedin Property Report - June 2023 (May 2023 stats) The median sale price in May remained at a similar level to recent months at $565,000. There was a significant increase in the number of sales, up 45 from April to 172. The median days on the market has stayed steady at 47. The number of listings available on Realestate.co.nz is the most significant indicator this month. With 560 properties available, there are around 100 fewer than at this time two months ago. As a result, buyers are...

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Dunedin Property Report - May 2023 (April 2023 stats) The median sale price in April stayed at $570,000, making it three months that Dunedin prices have held at this level. There were 127 house sales which is on-par with April 2022 The median days on the market has remained similar to last month, up just four days to 44. The number of listings available on Realestate.co.nz has steadily declined in recent weeks, moving from 665 this time last month, to 623 as of writing this report. This...

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Dunedin Property Report - April 2023 (March 2023 stats) The median sale price in March was $570,000 which was in keeping with recent months and possibly indicates the market beginning to plateau. There were 183 house sales across Dunedin and 4 section sales. As expected, the median days on the market dropped by around a third to 41 bringing some relief to those looking to sell in a shorter timeframe. The number of listings available on Realestate.co.nz is 665 as of writing this report. This...

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Dunedin Property Report - March 2023 (February 2023 stats) The median sale price in February was $560,000. This is a continuation of recent price trends and a better indicator than last month with a more representative sample size of 115 sales, up from 69 in January. The median number of days to sell was 63 which is still likely high as a result of property selling that was marketed through the Christmas break. March and April stats should provide a more accurate representation of this figure...

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Dunedin Property Report - February 2023 (Jan 2023 stats) The median sale price in January was $515,000. This is a stark contrast to the past six months of fairly steady median prices around $600,000. This is likely, in part, an indication of first home buyers being represented strongly in the sales data meaning more sales are happening in lower price brackets. There is, however, no doubt we have seen downward pressure on prices across the board. There were just 69 sales in January which is...

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Dunedin Property Report - January 2023 (Dec 2022 stats) The median sale price in December was $600,000 making it six months that the price has held at or around this level in Dunedin City.  The median number of days to sell increased once again to 43 from 38 in November. For comparison, in December 2021 the median number of days to sell was 30. The number of sales for the month was very low at 121, with many people putting off their buying decisions until 2023 given the uncertainty in...

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Dunedin Property Report - December 2022 (Nov 2022 stats) The median sale price in November held at $600,000. This may give the impression that prices are holding steady. Anecdotally however, there is ongoing downward pressure on prices. There are still buyers offering, and in some cases, multiple offers being received on properties. But it is the sharply priced properties attracting this interest with those priced optimistically often sitting for months on the market. The median number of...

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Dunedin Property Report - November 2022 (Oct 2022 stats) The October statistics continued the trends from recent months, with tempered buyer activity and plenty of new properties coming to the market. The median sale price of $621,000 is in keeping with the price trend of recent months, in the early $600,000’s. This is comparable to the median sale prices seen in late 2020 to early 2021. The median number of days to sell has increased again to 46. This can be attributed, in part, to the...

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Dunedin Property Report - October 2022 (Sept 2022 stats) September continued to show improvements in the Dunedin market with prices holding steady and buyer attendance at open homes continuing to improve. The median sale price of $601,000 made it three months at around $600,000, possibly marking the expected plateau as the market finds a new equilibrium. The standout figure for the month was the median days on the market which dropped from 47 down to 39. This is one of the largest one-month...

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Dunedin Property Report - September 2022 (Aug 2022 stats) The Dunedin market showed fresh signs of life in August with open home numbers up, stronger offers coming in and the number of sales up from last year at 153 compared with 125 in August 2021. The median sale price held steady at $600,000 after a gradual decline in recent months reflecting the broader trend across New Zealand. The median time to sell remained at 47 days and encouragingly, a number of Nidd Realty listings that have been...

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Dunedin Property Report - August 2022 (July 2022 stats) The July stats reflected what agents across the city are experiencing with a continued softening in sale prices and a median now at $600,000. This is similar to the median in early 2021 when we were seeing a rapid increase in prices. There were 142 sales for the month which is well up on June and more than the 135 in July 2021. This is in line with what we are experiencing, with improving numbers through open homes in recent weeks and...

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Dunedin Property Report - July 2022 (June 2022 stats) After May showed signs of a pick-up in sales numbers, June was a return to low turnover with just 122 sales for the month. For comparison, in June 2021 there were 208 sales, representing a very busy period when demand was high and listing numbers were very low at 276. With more than twice that number of properties now available and tougher conditions for buyers, the lower sales volume is an inevitable outcome. The median sale price...

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Dunedin Property Report - June 2022 (May 2022 stats) As expected, there was a pick-up in activity in May to compensate for the April holiday lull. What was even more encouraging is that there were more sales in May 2022, with 169, compared with 155 sales in May 2021. The median days on the market extended to 49, which is a much more accurate reflection of reality as discussed in our previous month’s report. The good news is that we are beginning to see properties that have sat on the...

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Dunedin Property Report - May 2022 (April 2022 stats) April was a predictably quiet month with the major factors that are already impacting the market being compounded by both national holidays and school holidays. As a result, the number of sales dipped to just 118 for the month. The other statistic reflecting the current situation is the median days on the market at 38. It is important to note that this is the median number of days to sell recorded against those properties that sold. A...

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Dunedin Property Report - April 2022 (March 2022 stats) March’s statistics verified what many in the industry have anecdotally been experiencing, a pull-back in median sale price and relatively low sales volume. The median dropped from an all time high last month of $685,000 to $645,000. This is still above March 2021 but certainly reinforces that the market is seeing a change from the rapid growth of recent years. Interestingly, the median number of days on the market reduced from 42...

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Dunedin Property Report - March 2022 (Feb 2022 stats) The number of properties for sale in Dunedin continued to rise in February, with 649 available at the time of writing. Only 156 properties were sold in February which was about 50 fewer than expected. We believe this is, in part, due to many properties being under contract conditionally and due to confirm in the coming weeks, which will spill these sales into the coming months’ stats. The median sale price increased to $685,000 which...

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Dunedin Property Report - February 2022 (Jan 2022 stats) February saw a continuation of the median price trend at $670,000. This, however, must be taken with a grain of salt as January data covers only a small number of sales (74) due to the Christmas break. The median number of days on the market also reflects the Christmas break at 48, with many of the homes that sold including the holidays in their time on the market. The most important data point to note is the number of homes available...

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Dunedin Property Report - January 2022 (Dec 2021 stats) While the median sale price remained at $650,000, the number of sales reduced considerably from 232 to 162. This is also well down on last December’s 251. The number of properties for sale has reduced from 461 this time last month, to 384 on the day this report was written. This is to be expected with the Christmas holiday period when few people choose to list their properties, preferring to wait until late January. We expect this...

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Dunedin Property Report - December 2021 (Nov 2021 stats) The city held fairly steady for November with a median sale price of $650,000. This is a 9.8% increase on November 2020.  It is pleasing to see sale numbers up to 212 from 168 in the previous month. This increase is likely, in-part, to far more properties being available on the market. The number of properties for sale has lifted from 276 this time last month, to 461 on the day this report was written. We are already encountering...

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Dunedin Property Report - November 2021 (Oct 2021 stats) October produced a further rise in the median sale price which is now up 20.5% year-on-year to a record of $675,000. There were 35 sales over $900,000 and 20 at over $1 million. Despite a number of media outlets and commentators having predicted that the market had peaked, the Dunedin market continues to show relentless price growth. Building activity is strong, but labour shortages, material shortages and a lack of available sections...

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Dunedin Property Report - October 2021 (Sept 2021 stats) Despite being in Level 3 lockdown, for the first week of September, the Dunedin market was surprisingly busy for the month with 172 sales. Given recent trends, this is within the expected range for this time of year had there not been a lockdown. The median sale price stayed steady with the trend at $642,500. The median number of days on the market was the main indicator of the lockdown with it extending to 37 from the early 20s which...

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Dunedin Property Report - September 2021 (Aug 2021 stats) The August statistics included nearly two weeks of the lockdown period in Dunedin so the numbers were no doubt affected by this. The median sale price reduced to $629,000 from $650,000. The graph below illustrates that this is in line with the two year trend but there may be the beginnings of a slight price plateau in progress. The picture will become clearer as we move out of the quiet months of winter and see the data from the...

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Dunedin Property Report - August 2021 (July 2021 stats) August has seen a significant increase in the median sale price from $610,000 to $650,000. There were only 129 sales for the month which is low for this time of year, especially when compared with 2020’s post-lockdown increase in sale numbers. It is worth noting that there were also 9 lifestyle block sales and 16 section sales in addition to the residential sales reported here. The median number of days to sell decreased to 25...

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Dunedin Property Report - July 2021 (June 2021 stats) July saw a decrease in the median sale price to $610,000. This is still up nearly 20% on June 2020 and almost 42% on June 2019 but the decrease reflects what has been happening around the country and likely indicates some softening in the ongoing rapid price growth we have been seeing. The median number of days to sell increased to 29 also indicating that buyers are taking a little longer to make decisions. The number of listings available...

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Dunedin Property Report - May 2021 (April 2021 stats) April saw a slight increase in the median sale price to $628,750 from $620,000 in March. As expected, the number of sales remained low at 138 and the median number of days on the market increased from 22 in March to 28 in April.  This reflects our observations at open homes with signs that the government’s ongoing property rule changes are having an impact on buyer behaviour, particularly investors. It is important however to...

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Dunedin Property Report - Mar 2021 (Feb 2021 stats) In February we saw numbers improve to where we would expect to see them for this time of year at 200, down just 10 sales on the same time last year. There is a continuation to the relentless increase in median price with a 20.6% year-on-year gain at $621,000. Median days on the market is 23 so we have returned to the fast pace that we were seeing for much of 2020. It has been good to see listing numbers increase again to 295 on...

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Dunedin Property Report - February 2021 (Jan 2021 stats) The number of sales in Dunedin was incredibly low in January with just 84 homes sold compared with 105 in January 2020. The median number of days on the market was 30, which we would expect for January with the holiday taken into account. The median sale price is continuing to creep up and is now $618,000. This is up year-on-year by 12.8% from $548,000 in January 2020. Prices are likely to remain high unless we see significantly more...

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The median sale price in December was $585,000. This is down from the all time high of $607,095 in November, but still in line with the overall trend. There were 232 sales which is more than 10% higher than in 2019 and 2018.  The number of properties available on Realestate.co.nz today sits at just 176 meaning that there is less than one month worth of stock available at the current rate of sales. We are however already seeing that there are a good number of listings coming to market as...

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Dunedin City reached a record median house price of $607,095 in November 2020, up 16.7% from the same time last year and the first time the city has exceeded the $600,000 mark. There were 25 sales over $1,000,000  and 50 over $900,000. The number of properties sold in November increased 16.7% to 238, up from 204 at the same time last year. Days on the market remained the same as October at 23 with many properties still selling in the first two weeks of marketing. First home buyers are...

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Dunedin’s house prices have increased 10.9% from $505,000 in October 2019 to $560,000 in October 2020. Sales numbers were down 8% from October last year to 183. The decrease in sale numbers is a continuing indicator of the shortage of properties available for sale. The median number of days on the market was just 23. Open homes continue to be very busy with large numbers attending and conditional buyers are finding it very difficult to compete with unconditional buyers. Listing numbers...

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This month’s stats show one of the largest single month rises in median sale price we have seen, from $515,000 in August to $568,000 in September. The increase in sale numbers is also significant with 216 up from only 141 sales in August. The median number of days on the market was just 22 down from 27. This illustrates the continued trend in market activity with prices remaining on their upward trajectory despite many predictions to the contrary. Listing numbers have not changed...

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Dunedin Property Report – September 2020 (August 2020 data) While the median sale price increased to $519,000 from $515,000 last month, there were only 141 sales, down from 187 in July. It is difficult to establish why the sales numbers have declined as far as they have but the winter months were certainly busier than previous years, possibly clearing some of the pent-up demand. The median number of days on the market was just 27. A significant factor influencing the market is the...

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Dunedin Property Report – August 2020 (July 2020 data) Sale numbers continue to outperform those of last year with 187 sales this month compared to 155 in July 2019. The median number of days on the market is sitting at 28 which is showing a downward trend as listings on the market reduce once again. The median sale price is continuing to creep up and is now $515,000. This is up year-on-year by 10.8%. Prices are likely to continue to experience upward pressure unless  significantly...

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Dunedin Property Report – July 2020 (June 2020 data) It is very pleasing to see the number of sales this month at 194 which is three better than last June and 45 better than the same month in 2018.  The median number of days on the market is only 29, heading back in the direction of pre-lockdown levels. The median sale price is showing signs of a return to the pre-COVID trend at $510,000. This is up year-on-year by 18.6%. The listing numbers available have taken a significant drop...

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Dunedin Property Report – June 2020 (May 2020 data) As things begin to normalise since coming out of lockdown, it is pleasing to see there were 136 sales, up from the 22 sales in April (due to lockdown). The median number of days on the market has stretched out to 48. This is to be expected as it reflects those properties sold which were listed prior to lockdown. The median sale price in May lowered to $500,000 but we are not taking too much from this with the number of sales in May...

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Dunedin Property Report – April 2020 (March 2020 data) This month’s report is a little different to usual, being written from my home office. The sales team are at home under lockdown and doing all they can while not being able to physically do much of the day to day work they would typically be carrying out. The March stats we are commenting on here only reflect a very small portion of the lockdown period. There were 187 sales, compared with 202 in February and 221 in March 2019...

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Dunedin Property Report – March 2020 (Feb 2020 data) The February results are about what we expected with the sales volume at 197, only slightly down on the 210 last February. Fortunately, we have seen an increase in listings in the past month but they are still selling at about the same rate as they are coming to the market. There are 288 houses listed on realestate.co.nz  The median sale price for the month was $520,000, a reduction of $30,000 on last month but still in keeping...

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Dunedin Property Report – February 2020 (Jan 2020 data) Sales for January were remarkably low at just 92, well down on the 128 last January. This reflects, in part, the very low number of properties that came to the market in December and early January. There are currently 238 houses listed on realestate.co.nz which is an improvement on recent months and anecdotally there is a considerable amount of new property set to come to the market in coming weeks. The median sale price for the...

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Dunedin Property Report – Jan 2020 (Dec 2019 data) Sales for December were just 164, well down from 201 in December 2018. This reflects, in part, the very low number of properties that came to the market. We recorded fewer than 130 new properties to the market for the month which was the lowest since we have been keeping records and not enough to replace what was sold. There are currently only 190 houses listed on realestate.co.nz for Dunedin which is slim pickings coming into the New...

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This month there was another $5,000 rise in the median price to $520,000. Days to sell came back by three to just 20. There have been more listings coming to market but with continuing pressure from buyers they are still resulting in many multiple offer situations, especially in the first home market. There were 197 sales which is about what we would expect based on the listing stock available. It appears that listing numbers are already reducing as we move towards Christmas and the holiday...

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It’s hard to believe but Dunedin has broken through the half a million dollar median to $515,000. This has been driven by price growth across all areas of the city. Considering that in October 2017 the median was just $374,000 it can be seen how far the market has moved. Sales fell by 20.1% annually but the number of days to sell didn’t change at 23. New listings have been steady, but current stock is still low. Vendors are achieving great prices for their homes but due to the...

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Median prices in Dunedin continue to increase annually and September produced a record median of $485,000, increasing by 21.3% from September 2018. Traditionally, we see more activity in spring and that has been the case this year with plenty of new property coming to the market in the past month. Dunedin City is continuing to perform very strongly relative to the other main centres driven, in part, by internal migration. Today there are 235 listings on Realestate.co.nz which reflects that...

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Dunedin Property Report – Sept 2019 (August 2019 data) The median sale price for August of $460,000 has reinforced last month’s record of $462,290. This represents an 11.9% increase in the past year.  New listings are up 22.7% but there are still large gaps in available listings in all price ranges. Today there are 243 listings on Realestate.co.nz which is certainly an improvement on 200 in July.   There were only 153 sales compared to 186 in August 2018, again...

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The median for July was $462,290, up from $430,000 but almost $50,000 up from July 2018. Although this is a large increase and another record median, the continued upward trend is a more significant point to note given the limited number of sales to gather data from. The number of properties sold slipped back from 191 in June  to just 148 in July 2019 which is incredibly low, even for this time of year. Today there are 200 listings on Realestate.co.nz. Buyers continue to have to compete...

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The slight reduction in the median sale price to $427,500 from $438,000 last month is still in line with the trend that we have seen since this time last year. The number of properties sold increased from 149 in June 2018 to 181 in June 2019.  Dunedin reached the lowest number of properties available for sale since our records began, with only 197 currently on Realestate.co.nz. The combined effect of the low number of listings coming to the market and the relatively high number of sales...

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The median sale price for May was up from $430,000 in April to $438,000 in May. The number of sales was up by 49 to 244 but, due to this increase in sales numbers and a lack of new property coming to the market, we are back to a very low number of properties available for buyers. The number of listings on Realestate.co.nz has pulled back again from 346 to 288. The median number of days to sell has increased a little to 28. There is continuing discussion at the local body level on the lack of...

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The median sale price for April was the same as March at $439,000. The number of sales was 190, which is down more than 14% from March. The number of listings on Realestate.co.nz has pulled back again from 375 to 346. The median number of days to sell has increased from 22 to 27. The increase in time to sell and reduced number of sales are a common trend for this time of year as the number of public holidays delays people’s buying and selling decisions. Much has been made of the Reserve...

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The median sale price was $439,000 in March. This is an increase of more than $19,000 from last month and a substantial increase of 16.7% from this time last year. The number of sales was 207, which is down significantly on March 2018. The number of listings has continued to increase over recent weeks, now up to 375. The median number of days to sell was 22. This shows the continued momentum and demand in the Dunedin market when compared to much of the country. It will be interesting to see...

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The median sale price was $415,000 in February. This is an increase of just $5,000 from last month but still up significantly from $370,870 this time last year. The number of sales was 189 which is about what we would expect based on recent activity. Thankfully, as expected, the number of listings has continued to increase over recent weeks, now up to 362, providing some much-needed choice for buyers. The median number of days to sell was 23 which demonstrates that the speed at which most...

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The median sale price was $410,000 in January. This is a slight drop from previous months but still up significantly from $365,000 this time last year. The number of sales was 119 which is very low but does include a portion of the Christmas break. As expected, the number of listings has increased steadily over recent weeks, now up to 346, providing some much-needed choice for buyers. The median number of days to sell was 31 which is higher than recent months but again reflects the Christmas...

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The median sale price was $445,000 in December. This is a significant increase on $426,000 of November. The number of sales was 190 which is slightly down from last December when there were 199 sales. The number of listings has slipped to 251 but this is to be expected as there are a limited number of people who want to go to market in the last two weeks of December, yet properties now continue to sell right up to Christmas Eve. It is encouraging to see many new listings coming to the market...

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Dunedin Property Report - December 2018 (November data) The median sale price was $425,000 for November. This was slightly down on the record of $430,000 in October.The number of sales was 242, up from 232 in October and down just a little on 253 in November 2017. It has been pleasing to see the number of listings available maintained at 340, though the market could still absorb a lot more. The median number of days to sell was only 23 though many properties around the median sale price are...

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Dunedin Property Report - November 2018 (October data) The median sale price was $430,000 for October, another record for Dunedin City, up from the previous high of $414,000 in July.  The number of sales was 176, down from 185 in September and 189 in October 2017. With approximately 269 new listings brought to market during the month, the difference between these two figures explains the healthy increase to 349 listings available for purchase after the low of 270 in August. The median...

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Dunedin Property Report - October 2018 (September data) The median sale price was $400,000 for September, back a little from the median of $414,000 in August. The median sale price just one year ago was $360,000 showing how much movement there has been in the market. The number of sales was 172, down from 184 in August and 176 in September 2017. The median number of days to sell was only 24. Stock levels have been a little more static as school holidays slow the market a little with only 314...

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The median sale price was $414,000 for August, a record for Dunedin City and up from $400,000 in July. This continues the upward trend into new territory. The number of sales was 170, up from 135 in July and 140 in August 2017. The median number of days to sell was only 25, a further drop in time to sell from 27 last month. Stock levels are beginning to rise again with a healthy increase to over 300 listings after the low of 270 last month. We expect to see an active market over the coming...

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Dunedin Property Report - August 2018 (July data) The median sale price was $400,000 for July, a record for Dunedin City and up from $380,000 in June. The number of sales was 135, down from 142 in June and 137 in July 2017. The median number of days to sell was only 27 reinforcing how much demand there is for the few properties that are coming to the market. Stock levels have reached another all-time low of 273 with only two months’ supply of properties available at the current rate of...

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The median sale price was $375,000 for June, down from $387,010 in May. This is loosely in line with the ongoing trend but with so few sales, we expect a certain amount of volatility in this figure. The number of sales was 124, down from 198 in May and 139 last June. This is one of the lowest monthly sales totals we have seen, largely reflecting the very low number of properties coming to market. The median number of days to sell was only 25, which continues to show the quick response to new...

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Dunedin Property Report - June 2018 (May data) This month saw a slight reduction in the median sale price to $387,010 but this is still in line with the general upward trend. It is interesting to note the number of sales for the wider Dunedin area remains at 197, only 8 less than last May. The number of days to sell is up just one to 27. The number of listings online has dropped significantly. We are back to an acute shortage of available property with most new listings selling very quickly...

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The median sale price for the month has hit another all-time high at $398,000 which is in keeping with the recent trend. It is worth noting, however, that this is taken from a relatively low number of sales this month so may not be a perfect representation of growth in the market. New listing numbers are certainly down with buyers once again outstripping the number of new listings coming to the market. In part, this reduction could be because school holidays fell within this month and they...

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Dunedin Property Report - April 2018 (March data) There were 241 sales in March, 18 fewer than last year. The median sale price for the month was $375,000, and prices are strong across the market from small flats to spacious new homes. We are starting to see a seasonal slowing in listing numbers but properties that are well presented and where the owner has a realistic expectation are still often generating multiple offers and great prices in a short marketing period. Days on the market is...

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Dunedin Property Report - March 2018 (February data) The numbers for February are in line with what we expected. There were 214 sales, 20 more than last year when there was a lack of new listings coming to the market. This was a significant improvement on January when there were just 138 sales. The median is back up from $362,500 to $371,935 edging closer to the all-time high from December of $385,000. The median number of days to sell is 36 which is high compared with the same time last year...

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As expected, there was a substantial rise in days on the market in January with the Christmas period moving the median to 37. Sales volumes were also down with only 138 sales in January which was 20% lower than January 2017. The median sale price has come back a little from $380,000 in December to $362,500 but this sort of statistical variation often appears with a reduced number of sales. Commentators are predicting that interest rates will hold around the current level, reinforced by the...

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December was only slightly behind last year in terms of sales volume with just 15 less sales recorded for the month. There has been a substantial increase in the median sale price over the past year with December 2017 at $380,000 compared to $330,000 in December 2016 (a difference of $50,000 or 15.1%). The graph below shows this trend holding steady over the past two years. The median number of days on the market was 24. As we see reports in the media of property markets slowing in the larger...

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As we approach the end of the year, the market is returning to normality with 254 sales in November which is only 15 sales short of the same month last year. Listing numbers continue to improve and there are now 538 listings on realestate.co.nz up from around 350 earlier in the year. Many buyers are feeling relieved now that they are seeing some choice available to them. We are recommending potential vendors be pro-active in the New Year as this supply of buyers may be soaked up by excess...

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Although Dunedin only had 180 sales in October, we are at last seeing the release of property to the market that we have been waiting for. There were 291 new listings in October leaving a nice surplus when the number of sales for the month is taken into account. Realestate.co.nz is showing 463 listings up from 355 in September reinforcing this observation. This is providing buyers with more choice and we are finding that people who have been holding off selling because they have been unable...

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The last month has seen a continuation of low sales numbers with just 177 sales across the city. This is compared with 184 last September and reflects the continuing shortage of new properties coming to the market. There are just 355 listings for Dunedin City on the industry website Realestate.co.nz. While we are still awaiting the announcement of who will govern us for the next three years we ponder whether this will make any significant change to the Real Estate Industry. The discussion of...

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Although it looked last month like the supply of listings might start to go a little way towards meeting the demand, it appears that the genie is back in the bottle. Sales numbers are still very low at 174, but have improved somewhat on the 140 sold in July. For comparison, last August there were 192 sales. There are just 351 listings for Dunedin City on the industry website realestate.co.nz. We are still seeing good attendance at open homes with as many as 30 groups at the first showing...

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Dunedin Property Report - August (July Data) We are seeing signs of an end to the listing drought that has affected the Dunedin market for the past year. An improving supply of new listings is coming to market, though sales numbers are still very low at 140, down again from the 154 in June. Total listing numbers at 362 show just over two months of listing stock available at current demand but we expect supply to increase over coming weeks. The underlying level of activity from buyers is well...

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With the lowest number of listings on the market that we have seen, we have been busy dealing with buyer demand for the few properties that are available. There has been a significant drop in sales numbers from 200 in May to 154 in June. Listing numbers dropping even further to 371 from 388 is not helping the sales numbers. Buyer activity is still strong as evidenced by an open home we held last weekend that attracted 46 groups of buyers. The median days on the market is 25. The median sale...

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Dunedin Market Report - June (May Data) Although May has been a relatively mild month, sales data is more like what we would expect from a mid-winter period. Sales numbers were up on the 181 of April, though 200 is still slim pickings. With listing numbers dropping even further to 388 from 456 this is continuing to put real pressure on buyers. The median days on the market is 22 which shows the speed of response from buyers. The median sale price is back up to $355,000 from $350,000 a month...

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April statistics are what we expected to see with school holidays, Easter and Anzac Day having a major effect on the number of sales. In saying that, we did not expect the difference between April this year and last to be as significant as it was with 181 sales compared to 254 last April. Listing activity was also low with 50 less listings to the market for the same period. The median sale price is back up to $350,000 from $342,000 a month ago, continuing the trend toward the upper...

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Dunedin Market Report - April 2017 (March Data) The volume of sales for March was around what we expected based on a very busy month in the office. There were 259 sales compared to 277 last March. The median sale price is back just a little to $342,000 from $350,000 a month ago. The median days on the market is just 20 which is as low as we have seen it in recent years. The total value of sales was $103 million, a huge increase on $73.9 million just a month ago.Looking at the graph for this...

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Dunedin Market Report - March 2017 (February Data) February was surprisingly low on turnover for the city with just 194 sales, down from 215 last February. The median sale price climbed to $350,000 up from $310,000 a year ago. This is demonstrating the competition for the stock coming to market and the continuing shortage of homes for sale. The median number of days on the market was extremely low at 21 and a lot of those properties sold were likely to have been under contract within the...

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January was somewhat quieter than last year but we expect February and March to make up for that as it appears a lot of owners have been waiting until February to go to the market. There were just 124 sales, down from 155 last January. The median sale price continues to hold at a similar level of $325,500 up from $301,000 a year ago. The median number of days on the market was 29, which is around what we would expect in January with many people on holiday. The total value of sales was $44.1...

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December was a busy month again with a significant amount of property sold across the city. Interestingly, the number of sales far outstripped the new listings coming to the market taking the number of listings on Realestate.co.nz from over 500 down to the mid 400’s by early January. To put the current market conditions into perspective, there were 891 listings available in December 2014. The median number of days on the market was just 21 which is incredibly low for December. The...

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Despite the fact that Christmas is almost upon us the market is still very busy. Last month there were 269 sales, up from 204 in November 2016 and up too on 236 last November. The median sale price has decreased slightly to $325,000 from $340,000 last month. The median number of days to sell is still low at 23 days but we should expect to see this increase with Christmas and the holiday period. Listing numbers are still relatively low with 522 on Realestate.co.nz and TradeMe at 346. It is...

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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...

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The usual launch into spring has not arrived as strongly this year with 184 sales for the month, down from 227 in September 2015. The median sale price of $311,000 has pulled back a little from last month although the trend for the year is certainly still upwards on prices. The median number of days to sell is still extremely low at 20 days and reflects the lack of new property coming to the market. There were 13 section sales for the month which continues to show good turnover in the bare...

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There has only been an increase of 13 sales from last month but the 192 sales is exactly the same as last August. The median sale price of $325,000 has settled down just $5,000 on last month’s $330,000. At 19 the median number of days to sell is the lowest in our team’s experience. There were 11 section sales for the month which is relatively high for the time of year. There is still a shortage of listings heading into spring with just 451 on Realestate.co.nz and TradeMe at 291...

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The mid-winter figure of 179 sales is only a small reduction from 187 last month, but well up on 155 last July. The median sale price has once again broken the record, continuing the upward trend to $330,000, up from $320,000 last month. The median number of days on the market was 25, up from 20 in June. There were 15 section sales for the month which is one of the highest figures seen in Dunedin for this time of year. Listing numbers continue to trend downwards with just 441 on...

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The winter reduction in sales numbers has hit this month with 187 sales, well down on 259 in May. This is still greater than the number of new listings coming to the market, further emphasising the lack of property available for buyers. The median number of days on the market was 20. The median sale price reached a new record of $320,000. There were 10 section sales for the month which is higher than expected for this time of year. Listing numbers are the lowest we have ever seen with just...

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Dunedin continues to hum. There were 259 sales and there would have been considerably more if there had been more property available on the market. This is 37.5% up on 188 in May last year. The number of visitors to open homes is amazing with one listing recently having 107 inspections during a two-week deadline sale process. The median number of days on the market was 25. The median sale price was $307,000 and the total value of sales was $90.4 million. There were 13 section sales for the...

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