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 December 2018
Reviewing the numbers for November we can see an improvement in new listings in the last couple of months and we have got up to 221 properties available as of the 01 December 2018. Be nice to think that the trends of 2018 regarding listing numbers follow through. Possibly before this happens the Christmas decline will take place with the slowing up of activity.
Sales trends have jumped up in November with sales levels similar to March 2018. Our records showed 117 properties sold in the month, in previous months 90 has been the average. Reviewing the medians value of properties sold the last two months have been similar at $440,000, this a drop from the $450,000 which was the value in the middle of the year. The Reason for the decline is the larger number of properties in the sub $400,000 group, where there were 12 additional properties sold over the monthly average.
The other aspect in the sales were the median time to obtain a sale and we recorded 16 days for November, this would be one of the lowest sales medians that we have recorded.
Reviewing the quantities of properties sold, the various bands above the $400,000 these have remained relatively constant month on month
Reviewing the properties sold per price band the last three months have shown a consistent number of properties sold between the $0 – $400,000 price band and the $500,000 – $700,000 price band which is further evidence that over the last three months the same activity has been recorded month in and month out.
Summary – properties are still being listed and sold in a reasonable time period, with a median price that has shown little change.
To Keep up to date with David – Davids@ergomortgages.co.nz