The Graphs below are from REINZ providing statistics up to the end of April 2017. As you can see the last quarter of the 2016/17 financial year has seen an increase in the median sales price with Napier showing the biggest increase. A reduction in the days to sell and also an increase in the number of sales.
The market has seen listings hard to get as there are more buyers than sellers. We have on our books many people who would like to sell however are sitting tight as they have nothing to buy. It can be a frustrating market for vendors and buyers alike.
What we do know is we are achieving great sales levels for our vendors. Its a market where the first offer is not necessarily the best offer yet we continually see some Real Estate Salespeople selling properties with-in 24 hours of coming to the market. You have to question have these Salespeople given the vendors the best advice? As we know competition creates an unfair advantage for the vendors.
At Team Harper we understand this and try our hardest doing the right thing for our vendors. If this is how you’d like to be treated contact us today.
Mike – 027 4445373 Emerald 027 8282296 Email teamharper@harcourtshb.co.nz
Two strong Salespeople for the price of one!!
Hawkes Bay Market Report – November 2016
Sales Volumes in Hawkes Bay rose 24% compared to October, with sales rising 24% in Hastings and 16% in Napier. The medium house price rose $46,000 (+15%) compared to November 2015 to reach a new record high.
The medium number of days to sell eased by three days compared with October, from 30 days in October to 33 days in November. Over the last 10 years the medium number of days to sell for the Hawkes Bay has been 45 days. The region has 11 weeks of supply available, a drop of 4 weeks over the past 12 months.
REINZ spokesman, Bryan Thomson noted that, “There are more first home buyers in the market, although the number of investors continues to decline. The inventory position is still tight, but has eased somewhat with the influx of new listings over the spring. Prices continue to firm across the region with the market in a steady uptrend.”
Source – REINZ
Graph Commentary – The medium price trend has moved from steady to improving, although the sales volume trend has moved from improving to steady. The days to sell trend is also rising, with the overall trend for the region continuing to improve.
