Days on the market for Tauranga homes to sell halved from 56 days in August 2014 to 28 days in August 2015.
The median price in August for Tauranga went from $354k in 2014 to $470k in 2015.
For Mount Maunganui and Papamoa properties, days on the market went from 48 to 31 days, and the median from $435k to $495k. The period July, August, September 2015 showed a 56% growth in volume of Tauranga sales over the same quarter in 2014 and 60% of those sales were sold for under $500k.
The same period showed a 48% increase in Mount Maunganui and Papamoa sales with just under 40% of those selling below $500k. The highest volumes in both markets were in the $400-$600k price range (source REINZ statistics).
What this means is clear. Increasing demand for homes in our region looks like being maintained for some time yet.
The worth of a good market appraisal of your property is essential to have an appropriate marketing programme targeted to the most likely buyer group. Prices are increasing and interest rates remain at low levels for borrowers.
Now is a good time to sell and you should talk to people who know what’s going on out there.
Talk to EVES now, with more people selling more property.