Dunedin City Residential Medium prices have just been released by the Real Estate Institute of New Zealand that indicates 215 sales for the month of October of dwellings. There was one apartment sale and 16 section sales.
The medium sale price is $257,000 and total value of sales amounted to $65,632,934.
To put this into perspective in the previous month of September there were only 152 sales with the medium price of $265,000 and total selling value of $49,877,000.
What this tells us is that there were a significantly higher number of sales for the month of October compared to September however the medium sale price was reduced by around $8,000 we suspect due to the higher number of sales possibly in the lower to medium price range.
This increase in volume is encouraging as previous winter months the volume was down significantly. In fact, most real estate agents reported a very slow winter, in fact the slowest they have known for a considerable period of time.
In summary, the number of sales for October was up; the medium selling price was down and as one would expect the total value of sales was up considerably.