The Real Estate Institute of New Zealand has released November sales data for Dunedin City that indicate a medium sale price of $270,000 with 243 dwellings sold over this period and nine section sales with a medium sale price of $159,100.
The total volume of dwelling sales was $76,280,674 taking 26 days to sell.
This is a healthy level of sales and up considerably from the 215 sales during the month of October. The medium sale price has also lifted from $257,000 in the prior month and 152 sales in the month of September.
This increase in volume is encouraging and shows that the market has rebounded considerably from its lows in the winter months which is down significantly.
The feeling I get talking to Real Estate agents is that there seems to be a shortage of well priced and well presented properties particularly in the $300,000 to $500,000 price range. Above $500,000 demand tapers off quite quickly due to the lower number of available buyers in this price bracket.
In summary, a healthy number of sales for the month of November with the medium sale price rising significantly and as one would expect the total value of sales up as well.