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 with the price trend of the past 12 months. The number of days to sell sits at 21.
What has been interesting is that the numbers through open homes have reduced a little, particularly after the first week of marketing. Given that the rate of property coming to the market has increased, this may indicate that buyers have more property to choose from. It is not out of the question that this is also in-part due to nervousness around COVID 19 but it is too early to say what impact this is likely to have, if any, on the local market.
We have also noted that with the high prices being achieved, buyers are more particular than ever about the details and finishing of properties, as well as the cleanliness on settlement. This is where the skills of your salesperson are very important in guiding you with the presentation of your property to help buyers see the maximum value in what is on offer and to ensure a smooth settlement.
Joe Nidd AREINZ
Liz Nidd FREINZ