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 million.
It is very pleasing to see a good selection of quality property coming to the market after a very low listing period for the city late last year. There are still many buyers in all categories, including first home buyers and investors, despite the lending restrictions.
The statistics that really stood out in the distribution of sales are the very small number now under $200,000 and the fact that there was only one sale upwards of $700,000.
Feedback on our new website launch has been fantastic. If you haven’t visited yet, check out nidd.co.nz when you have a moment.
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