Dunedin Market Reports

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Dunedin Property Report - August 2018

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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Dunedin Property Report - July 2018

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

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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DUNEDIN PROPERTY REPORT - MAY 2018

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

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

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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Dunedin Property Report - February 2018

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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Dunedin Property Report - January 2018

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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DUNEDIN PROPERTY REPORT - DECEMBER 2017

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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DUNEDIN PROPERTY REPORT - NOVEMBER 2017

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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DUNEDIN PROPERTY REPORT - OCTOBER 2017

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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DUNEDIN PROPERTY REPORT - SEPTEMBER 2017

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 2017

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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Dunedin Market Report - July 2017

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 2017

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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DUNEDIN MARKET REPORT - MAY 2017

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

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

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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Dunedin Market Report - February 2017

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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Dunedin Market Report - January 2017

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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Dunedin Market Report - December 2016

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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Dunedin Market Report - November 2016

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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Dunedin Market Report - October 2016

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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Dunedin Market Report - September 2016

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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Dunedin Market Report - August 2016

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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Dunedin Market Report - July 2016

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 Market Report - June 2016

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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