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 July 2018
Reviewing the numbers for July, one of the issues is the decline in the number of new listings coming to market, with 186 properties being actively marketed at the beginning of August.
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’s 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 1169 properties being sold in the August 2016 to July 2017 period and 1087 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.
Over the last month sales numbers have been down on previous months, but the median value of sold properties has increased (less activity in the bottom end of the market).
The median days to sell for July was 25, which was a good result compared to July 2017 where it took 40 days to make a sale.
Summary – properties are still being listed and sold in a reasonable time period, for a price that has increased in the last few months.
Keep up to date with Loren on firstname.lastname@example.org for regular & relevant data & stats.