Dunedin Market Reports

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Dunedin Property Report - April 2021

March was an unusually quiet month for the Dunedin real estate market with just 125 sales. Based on previous years we would expect around 200 sales in March so this came as some surprise. It is difficult to pin down any single cause for this drop but there was a reduced supply for the month with 60 less properties listed in March than February so this was no doubt an influencing factor.  Once again we have seen a substantial rise in the median sale price to $650,000 but we always treat...

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Dunedin Property Report - March 2021

Dunedin Property Report - Mar 2021 (Feb 2021 stats) In February we saw numbers improve to where we would expect to see them for this time of year at 200, down just 10 sales on the same time last year. There is a continuation to the relentless increase in median price with a 20.6% year-on-year gain at $621,000. Median days on the market is 23 so we have returned to the fast pace that we were seeing for much of 2020. It has been good to see listing numbers increase again to 295 on...

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Dunedin Property Report - February 2021

Dunedin Property Report - February 2021 (Jan 2021 stats) The number of sales in Dunedin was incredibly low in January with just 84 homes sold compared with 105 in January 2020. The median number of days on the market was 30, which we would expect for January with the holiday taken into account. The median sale price is continuing to creep up and is now $618,000. This is up year-on-year by 12.8% from $548,000 in January 2020. Prices are likely to remain high unless we see significantly more...

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Dunedin Property Report - January 2021

The median sale price in December was $585,000. This is down from the all time high of $607,095 in November, but still in line with the overall trend. There were 232 sales which is more than 10% higher than in 2019 and 2018.  The number of properties available on Realestate.co.nz today sits at just 176 meaning that there is less than one month worth of stock available at the current rate of sales. We are however already seeing that there are a good number of listings coming to market as...

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Dunedin Property Report – December 2020

Dunedin City reached a record median house price of $607,095 in November 2020, up 16.7% from the same time last year and the first time the city has exceeded the $600,000 mark. There were 25 sales over $1,000,000  and 50 over $900,000. The number of properties sold in November increased 16.7% to 238, up from 204 at the same time last year. Days on the market remained the same as October at 23 with many properties still selling in the first two weeks of marketing. First home buyers are...

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DUNEDIN PROPERTY REPORT – NOVEMBER 2020

Dunedin’s house prices have increased 10.9% from $505,000 in October 2019 to $560,000 in October 2020. Sales numbers were down 8% from October last year to 183. The decrease in sale numbers is a continuing indicator of the shortage of properties available for sale. The median number of days on the market was just 23. Open homes continue to be very busy with large numbers attending and conditional buyers are finding it very difficult to compete with unconditional buyers. Listing numbers...

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Dunedin Property Report – October 2020

This month’s stats show one of the largest single month rises in median sale price we have seen, from $515,000 in August to $568,000 in September. The increase in sale numbers is also significant with 216 up from only 141 sales in August. The median number of days on the market was just 22 down from 27. This illustrates the continued trend in market activity with prices remaining on their upward trajectory despite many predictions to the contrary. Listing numbers have not changed...

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Dunedin Property Report – September 2020

Dunedin Property Report – September 2020 (August 2020 data) While the median sale price increased to $519,000 from $515,000 last month, there were only 141 sales, down from 187 in July. It is difficult to establish why the sales numbers have declined as far as they have but the winter months were certainly busier than previous years, possibly clearing some of the pent-up demand. The median number of days on the market was just 27. A significant factor influencing the market is the...

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Dunedin Property Report – August 2020

Dunedin Property Report – August 2020 (July 2020 data) Sale numbers continue to outperform those of last year with 187 sales this month compared to 155 in July 2019. The median number of days on the market is sitting at 28 which is showing a downward trend as listings on the market reduce once again. The median sale price is continuing to creep up and is now $515,000. This is up year-on-year by 10.8%. Prices are likely to continue to experience upward pressure unless  significantly...

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Dunedin Property Report – July 2020

Dunedin Property Report – July 2020 (June 2020 data) It is very pleasing to see the number of sales this month at 194 which is three better than last June and 45 better than the same month in 2018.  The median number of days on the market is only 29, heading back in the direction of pre-lockdown levels. The median sale price is showing signs of a return to the pre-COVID trend at $510,000. This is up year-on-year by 18.6%. The listing numbers available have taken a significant drop...

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Dunedin Property Report – June 2020

Dunedin Property Report – June 2020 (May 2020 data) As things begin to normalise since coming out of lockdown, it is pleasing to see there were 136 sales, up from the 22 sales in April (due to lockdown). The median number of days on the market has stretched out to 48. This is to be expected as it reflects those properties sold which were listed prior to lockdown. The median sale price in May lowered to $500,000 but we are not taking too much from this with the number of sales in May...

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Dunedin Property Report – April 2020

Dunedin Property Report – April 2020 (March 2020 data) This month’s report is a little different to usual, being written from my home office. The sales team are at home under lockdown and doing all they can while not being able to physically do much of the day to day work they would typically be carrying out. The March stats we are commenting on here only reflect a very small portion of the lockdown period. There were 187 sales, compared with 202 in February and 221 in March 2019...

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Dunedin Property Report – March 2020

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...

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DUNEDIN PROPERTY REPORT – FEBRUARY 2020

Dunedin Property Report – February 2020 (Jan 2020 data) Sales for January were remarkably low at just 92, well down on the 128 last January. This reflects, in part, the very low number of properties that came to the market in December and early January. There are currently 238 houses listed on realestate.co.nz which is an improvement on recent months and anecdotally there is a considerable amount of new property set to come to the market in coming weeks. The median sale price for the...

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Dunedin Property Report – January 2020

Dunedin Property Report – Jan 2020 (Dec 2019 data) Sales for December were just 164, well down from 201 in December 2018. This reflects, in part, the very low number of properties that came to the market. We recorded fewer than 130 new properties to the market for the month which was the lowest since we have been keeping records and not enough to replace what was sold. There are currently only 190 houses listed on realestate.co.nz for Dunedin which is slim pickings coming into the New...

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Dunedin Property Report - December 2019

This month there was another $5,000 rise in the median price to $520,000. Days to sell came back by three to just 20. There have been more listings coming to market but with continuing pressure from buyers they are still resulting in many multiple offer situations, especially in the first home market. There were 197 sales which is about what we would expect based on the listing stock available. It appears that listing numbers are already reducing as we move towards Christmas and the holiday...

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Dunedin Property Report - November 2019

It’s hard to believe but Dunedin has broken through the half a million dollar median to $515,000. This has been driven by price growth across all areas of the city. Considering that in October 2017 the median was just $374,000 it can be seen how far the market has moved. Sales fell by 20.1% annually but the number of days to sell didn’t change at 23. New listings have been steady, but current stock is still low. Vendors are achieving great prices for their homes but due to the...

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Dunedin Property Report – October 2019

Median prices in Dunedin continue to increase annually and September produced a record median of $485,000, increasing by 21.3% from September 2018. Traditionally, we see more activity in spring and that has been the case this year with plenty of new property coming to the market in the past month. Dunedin City is continuing to perform very strongly relative to the other main centres driven, in part, by internal migration. Today there are 235 listings on Realestate.co.nz which reflects that...

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DUNEDIN PROPERTY REPORT – SEPTEMBER 2019

Dunedin Property Report – Sept 2019 (August 2019 data) The median sale price for August of $460,000 has reinforced last month’s record of $462,290. This represents an 11.9% increase in the past year.  New listings are up 22.7% but there are still large gaps in available listings in all price ranges. Today there are 243 listings on Realestate.co.nz which is certainly an improvement on 200 in July.   There were only 153 sales compared to 186 in August 2018, again...

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Dunedin Property Report – August 2019

The median for July was $462,290, up from $430,000 but almost $50,000 up from July 2018. Although this is a large increase and another record median, the continued upward trend is a more significant point to note given the limited number of sales to gather data from. The number of properties sold slipped back from 191 in June  to just 148 in July 2019 which is incredibly low, even for this time of year. Today there are 200 listings on Realestate.co.nz. Buyers continue to have to compete...

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Dunedin Property Report – July 2019

The slight reduction in the median sale price to $427,500 from $438,000 last month is still in line with the trend that we have seen since this time last year. The number of properties sold increased from 149 in June 2018 to 181 in June 2019.  Dunedin reached the lowest number of properties available for sale since our records began, with only 197 currently on Realestate.co.nz. The combined effect of the low number of listings coming to the market and the relatively high number of sales...

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Dunedin Property Report – June 2019

The median sale price for May was up from $430,000 in April to $438,000 in May. The number of sales was up by 49 to 244 but, due to this increase in sales numbers and a lack of new property coming to the market, we are back to a very low number of properties available for buyers. The number of listings on Realestate.co.nz has pulled back again from 346 to 288. The median number of days to sell has increased a little to 28. There is continuing discussion at the local body level on the lack of...

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Dunedin Property Report - May 2019

The median sale price for April was the same as March at $439,000. The number of sales was 190, which is down more than 14% from March. The number of listings on Realestate.co.nz has pulled back again from 375 to 346. The median number of days to sell has increased from 22 to 27. The increase in time to sell and reduced number of sales are a common trend for this time of year as the number of public holidays delays people’s buying and selling decisions. Much has been made of the Reserve...

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Dunedin Property Report – April 2019

The median sale price was $439,000 in March. This is an increase of more than $19,000 from last month and a substantial increase of 16.7% from this time last year. The number of sales was 207, which is down significantly on March 2018. The number of listings has continued to increase over recent weeks, now up to 375. The median number of days to sell was 22. This shows the continued momentum and demand in the Dunedin market when compared to much of the country. It will be interesting to see...

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Dunedin Property Report - March 2019

The median sale price was $415,000 in February. This is an increase of just $5,000 from last month but still up significantly from $370,870 this time last year. The number of sales was 189 which is about what we would expect based on recent activity. Thankfully, as expected, the number of listings has continued to increase over recent weeks, now up to 362, providing some much-needed choice for buyers. The median number of days to sell was 23 which demonstrates that the speed at which most...

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Dunedin Property Report – February 2019

The median sale price was $410,000 in January. This is a slight drop from previous months but still up significantly from $365,000 this time last year. The number of sales was 119 which is very low but does include a portion of the Christmas break. As expected, the number of listings has increased steadily over recent weeks, now up to 346, providing some much-needed choice for buyers. The median number of days to sell was 31 which is higher than recent months but again reflects the Christmas...

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Dunedin Property Report - January 2019

The median sale price was $445,000 in December. This is a significant increase on $426,000 of November. The number of sales was 190 which is slightly down from last December when there were 199 sales. The number of listings has slipped to 251 but this is to be expected as there are a limited number of people who want to go to market in the last two weeks of December, yet properties now continue to sell right up to Christmas Eve. It is encouraging to see many new listings coming to the market...

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Dunedin Property Report - December 2018

Dunedin Property Report - December 2018 (November data) The median sale price was $425,000 for November. This was slightly down on the record of $430,000 in October.The number of sales was 242, up from 232 in October and down just a little on 253 in November 2017. It has been pleasing to see the number of listings available maintained at 340, though the market could still absorb a lot more. The median number of days to sell was only 23 though many properties around the median sale price are...

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Dunedin Property Report - November 2018

Dunedin Property Report - November 2018 (October data) The median sale price was $430,000 for October, another record for Dunedin City, up from the previous high of $414,000 in July.  The number of sales was 176, down from 185 in September and 189 in October 2017. With approximately 269 new listings brought to market during the month, the difference between these two figures explains the healthy increase to 349 listings available for purchase after the low of 270 in August. The median...

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Dunedin Property Report - October 2018

Dunedin Property Report - October 2018 (September data) The median sale price was $400,000 for September, back a little from the median of $414,000 in August. The median sale price just one year ago was $360,000 showing how much movement there has been in the market. The number of sales was 172, down from 184 in August and 176 in September 2017. The median number of days to sell was only 24. Stock levels have been a little more static as school holidays slow the market a little with only 314...

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Dunedin Property Report - September 2018

The median sale price was $414,000 for August, a record for Dunedin City and up from $400,000 in July. This continues the upward trend into new territory. The number of sales was 170, up from 135 in July and 140 in August 2017. The median number of days to sell was only 25, a further drop in time to sell from 27 last month. Stock levels are beginning to rise again with a healthy increase to over 300 listings after the low of 270 last month. We expect to see an active market over the coming...

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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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