Mood of the Market – May 2017

Dunedin Property Report – May 2017 (April Data)

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 $300,000’s. The median days on the market is 20 which indicates the speed that buyers are making decisions to avoid missing out. The total value of sales was $75 million, reflecting the reduction in the number of properties sold.

You may note we have changed the information we have graphed this month as the public interest seems to be mainly in where the median price sits from month to month and year to year.

We continue to see many unconditional offers and are spending a lot of time with purchasers assisting them to be in a position to make their offer as attractive as possible, not just on price but in the simplicity of their conditions, especially for those depending on Kiwisaver.

Joe Nidd AREINZ
Principal/Managing Director

Liz Nidd FREINZ
Director

 

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