Dunedin’s medium residential property prices rose 5.8% to $285,000 in July with sales numbers up 9.2% from 142 sales a year ago to 155 sales. It took 31 days on average to sell these properties.
9 sections sold in the July period with the medium price of $130,000.
The Dunedin property market is reasonably buoyant at present with agents reporting a lack of listings although there appears to be strong buyer interest. This trend appears to be right across Dunedin with strong year on year sales growth and a buoyant market during what is normally the quiet time of year.
My own experience is that as long as property are realistically priced and well presented for the market will sell reasonably quickly with strong competition from a number of buyers that ultimately leads to a premium paid. It is my expectation that this will continue at least for the next few months and indeed across the country.