The Real Estate Institute of New Zealand has just released data for January 2015 which indicates 135 sales for Dunedin over this period and a medium selling price of $267,000.
It took 38 days to sell these properties which had a combined value of $40,348,000.
There were three sections sold for a medium price of $145,000 over this period.
December had a very similar medium selling price of $265,000 with a total of 177 properties selling.
We do not put too much emphasis on the December and January period as these are short months (due to the Christmas period) and would suggest that the November and February periods are more reliable.
The overall trend however is one of consistency across the market in Dunedin at present with the medium sale price hovering around the $250,000 to $260,000 mark which has been at this level for some considerable time.
My view moving forward is that this trend will continue unless something comes out of the woodwork that alters the market perception of real estate such as a major drop in interest rates or a vastly improved local economy.