Another month goes by and another record. For the first time Dunedin’s property median has gone past the half million dollar mark and we now have a median at $515,000. Put into context this is an 18.9% increase on the corresponding month last year which was $433,000.
Sale numbers for last month are shown as 183, a considerable drop on October 2018 figure of 229 sales for the region. Again, this is relative to the lower numbers of homes currently available for purchase, though we are seeing a lift in properties coming onto the market with 297 advertised properties and sections showing on realestate.co.nz as of today.
Total sales volume for the region in October sit at $104,874,000, down only slightly on last year’s figure of $112,955,000, this shows that while lower in sales volume there is a definite increase in the dollar value of properties.
The number of days for a property to sell has not altered and sit’s steady at 23.
Christmas is fast approaching and typically over the holiday period there is a slight drop off in activity, having said this we predict given the amount of buyers we continue to see at our open homes that should a vendor be ready to/ or a thinking of selling they should take advantage of our strong market. Give one of our team here at Cutlers a call, we can assist and advise you on how to best present and market your home to achieve a premium selling price.