A record median has been established for July 2019 with $462,290 now being our highest recorded median sale price, this figure is well up on July 2018 figure of $413,000. This large increase combined with the consistent upward trend for the median shows little sign of tapering off.
The median days to sell remain steady at 26 days down by one day on last year’s figure.
With the fall in the number of properties sold, July’s total at only 148 sales (down from last year’s 161) and combined with the low numbers of listings on the market (Currently 201 recorded on realestate.co.nz) we would have to say our market has never seen times like this before.
There are plenty of instances to back up the limited supply of properties as buyers scramble to get themselves in a position to purchase. We would suggest that as a buyer you discuss with your salesperson the best options/clauses when putting forward any offers, especially when competing for a home.