January 2020 has come and gone, with the statistics showing much the norm of previous years. Typically with school holidays and several people taking a well-earned break, we see a slower start to the property juggernaut for the first few weeks until everyone returns and gets into the swing of the New Year.
The number of sales for January is lower at 92 for the greater Dunedin area, compared to 128 sales for the corresponding time last year. However, with an increase in properties featuring on realestate.co.nz (256), we should see a climb in sales for February 2020.
The median sale price for January 2019 was $410,000, and with even fewer sales we have seen our median figure rise to a new record figure of $550,000 for the past month. However, it has to be said with January being a disjointed month this may not be an accurate figure to truly reflect where we are in the market.
Days on the market have seen a big jump to 43, well up from 2019’s figure of 33 days.
We have received plenty of buyer action at our open homes recently. One example in St Clair saw a very nice townhouse having an excess of 130 groups viewing over 2 weeks and 12 offers for the owners to consider.
Your team here at Cutlers are always ready to advise you regarding anything Real Estate. Contact us on 03 467 7277 or pop into our new offices at 709 Great King Street, North Dunedin.