Nov 12th 2012
The Institute caught me out this past week, usually figures are released on a “triple D” (aka a double digit day) but alas on the 9th of the month they released Oct 2012 sales results. Perhaps because of whats happening in the market, on the coal face I wonder? So here I was driving down to Christchurch last Friday morning to see the grandkids for a dual birthday…..and just as we passed through Culverden my smartphone beeped…OCT results out!
Anyways….. the REINZ headline for Oct results said….
Spring Real Estate Market Roars Into Life in October
…and that as Tony Alexanders most recent survey shows…..told it just like it was. Albeit a month late, but Spring as far as the Real Estate market was concerned, had definitely arrived here in NZ…. I sold two homes last week alone….one a silent listing on the market (well…the Summit agents internal one that is) for just two weeks…..and it sold for 30% above its CV.
Bit of a hiccup in the chart re the higher figures…too busy tonight to fix it…so I’ll just tell you what it was. Re that 5 bedroom market there were only two properties sold and the median price was $832,000 (ouch!) and remarkably, Days to Sell was just 11 days – very robust indeed…..but again that result was only based on 2 sales.
Anecdotally there certainly seems to be a “busyness” entering the market.
If a property is correctly priced for the local market serious activity follows. Have a feeling that Nov 2012 results will be quite healthy.
If you want to know more – to help out with your move to our region next week or next year just give me a call!