July 17 – Market Report

Snap shot of what has been happening in the marketplace over the past month.
The median price across the region rose $40,900 compared to July 2016. Prices rose 23% in Waikato District and 19% in Waipa District. Compared to June the median price increased $24,000.

Sales volumes compared to June 2017 fell 15%, with sales falling 38% in Waipa District and 28% in South Waikato. Compared to July 2016, sales across the region fell 32% (the largest annual drop of all the regions).
The number of days to sell eased by three days compared to June, from 36 days in June to 39 days in July. The number of days to sell eased by 10 days compared to July 2016. Over the past 10 years the average number of days to sell during July for Waikato has been 50 days.
“The supply of houses for sale in Hamilton is reasonably tight with at least 25% of listings to be built for house and land developments. Confidence in the region remains high and we’re still seeing a large number of out of town buyers, however, the number of investors has declined due to a tightening of bank lending.” Philip Searle, REINZ Regional Director.

Obviously the statistics contained within this article represent only a small fraction of the data we have at my fingertips. For more information relevant to your street or your property, email or call and ask for one of our team.July17

About Greg Petrin

Real estate has always been a passion for Greg, he enjoys assisting others to achieve their goals whether buying, selling or developing. He loves being involved in and watching the economic factors that come to play and effect the markets to try and predict the growth areas.
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