ERGO Graphs and Stats documented below are based on data received at the time of publication from internet marketed residential property sold by licensed Real Estate sales persons within Post Codes 4310, 4312, 4314. Due to the nature of the market new data is continually sourced and this information will be incorporated in our next publication.
New Plymouth Market June 2018
Reviewing the numbers for June, one of the issues is the decline in the number of new listings coming to market, with 200 properties being actively marketed at the beginning of July.
In some respect this is a similar trend to this time last year when numbers declined from 230 to 220 at the end of July. Last year numbers went onto further decline down to 200 properties in mid-September. One would hope we don’t see a further decline in August and September this year.
Sales trends have been flat with 90 properties being the average number sold in the last 12 months. This is further evidenced by the rolling sales graph for New Plymouth, with 1113 properties being sold in the August 2016 to June 2017 period and 1074 in the last 12 months. What this is saying for the last 12 months, average monthly sales have been declining by 9 per month. This is further emphasized by the decline in the value of real estate sold in the New Plymouth area, $542,000,000 down to $535,000,000 for the same rolling 12-month period.
As expected median days to sell is following a seasoned trend and is up for the month of June at 31 days, similar to 2017. Median sales value of property has trended slightly positive over the last 12 months, but is showing a seasonal flatness for this time of the year.
Summary – properties are still being listed and sold in a reasonable time period, for a price that has been the norm for the last few months. Maybe there is a slowing in the number of sales currently.
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