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 477 on Realestate.co.nz and TradeMe at 306.
First and second home buyers are having to act quickly to secure properties with demand remaining very strong below $500,000. There is now significant interest from outside Dunedin from both investors and people looking to move to the city competing with the large buyer pool already active in the market.
Well done to Sam Hewson who was the chosen recipient of $2000 for this round of the Nidd Realty Youth Innovation Fund! Our team were extremely impressed with his invention and prototype and are all keen to see him take it to the next level. He really captured the essence of what we are trying to encourage and really deserved the prize. If you would like to see Sam’s invention visit our Facebook page or nidd.co.nz
Don’t hesitate to contact us on [email protected] or 477 4470 if you would like to arrange a visit from one of the team to help establish the value of your property in the current market.
Joe Nidd AREINZ
Liz Nidd FREINZ