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 month it is amazing to see the disparity year to year on the sales numbers under $300,000. A year ago just under 50% of sales were in this price range compared to this month where it is just over 30%. The overall rise in prices is very clear to see with all sales ranges above $300,000 showing an increase but most significantly from $400,000 to $600,000.
An interesting trend we have been following with our in-office data is the increase in unconditional offers. From August 2016 to February 2017 we saw 32.7% of our properties sold to unconditional buyers. This is up from 15.5% in the three months prior. This reflects the increased competition among buyers and their willingness to carry out due diligence before making an offer on a property.
Joe Nidd AREINZ
Liz Nidd FREINZ