PROPERTY MARKET UPDATE APRIL 2024 BASED ON RESULTS FOR MARCH 2024
Get our Monthly Updates sent directly to your email: SUBSCRIBE
NORTHLAND in a SNAPSHOT: Volume is DOWN – 1.9% on 2023 and DOWN on last month – 9.0% and median price is SAME + 0.0% on 2023 and – 5.3% on last month, days to sell now sitting at 59 days.
Click on the image below to contact us about any property, thanks.
March has again seen more listings coming to the market. This continues to provide buyers with more choice but as we still have fewer buyers it is taking the average property longer to sell with current days to Sell at 59 days. We still have a high number of first-home buyers active in our market. This is continuing to skew our medium price a little as higher value homes are not selling as much in volume and so our Medium looks to be down but in reality, prices are remaining firm pointing to us being in a Flat market. Higher end properties continue to be a challenge to find buyers, and as buyers have more choice, properties that are well presented are selling better and faster.
If you are thinking of Selling, we would love to work with you to get the best result, so call us now for a FREE Property Appraisal and we’ll discuss this with you.
For overall Price Movement – See the 5 year price graph below which highlights pricing movement
NATIONAL OVERVIEW: (by REINZ)
“Listings increased substantially, up by 23.9% nationally compared with March 2023, reinforcing a trend we have seen since the beginning of 2024 with more property coming to market. New Zealand’s stock levels also saw a year-on-year increase, which means more available properties for sale and more choices for buyers. Agents are seeing activity among a range of buyer groups, with first-home buyers and owner occupiers being the most active.” Says Jen Baird REINZ CEO
QV on April 9 reported that Life ‘very difficult’ for everyone in housing market and that prices are moving around but things are tough for both buyers and sellers, QV says. There are more listings to choose from, but buyers face difficulty getting credit.
NATIONAL MARKET KEY INDICATORS:
NORTHLAND OVERVIEW: (by REINZ)
“Local agents report that first-home buyers continue to be the most active buyer group across the region, with strong levels of enquiry from owner-occupiers as well. Most vendors are setting realistic price expectations, while some are reluctant to adjust their prices to meet the market.
With plenty of stock available, open home attendance has increased significantly for newer listings.
Auction attendance has picked up in some areas, but sales through this method remain light. The number of listings is giving buyers more confidence and means that some buyers are taking their time before making decisions. Local agents are predicting that activity may slowly pick up, as investors return.” Jen Baird REINZ CEO
SUMMARY OVERVIEW AND DETAILED STATISTICS:
Our market is continuing to improve in sales volume and a little in price, but the challenge will be finding the best buyers for your property to ensure you get the best result. We have the skills to do this for you.
5 YEAR MEDIUM PRICE MOVEMENT FOR NORTHLAND TO MARCH 2024
If you want to sell your property, please give us a call as now is a good time to be talking and looking at the best method of taking your property to the market.
Please call us 021 820 015 to discuss your property needs further.
Please send us your feedback ie are our Monthly Updates giving you the information you would like, or is there something missing, please tell us. SEND FEEDBACK
