NEWSLETTER | JUNE 2024
NORTH SHORE MARKET UPDATE
An insight on what is happening in your area. HAVE WE SEEN THE BOTTOM OF THE MARKET?
The question that gets asked the most...have we seen the bottom of the market? Most people seem to think that house prices continue to fall but the stats are showing an increase since 2023. May’s median sale price is up 6% since this time last year. For the North Shore, the last time we saw a decline in the median price was January 2024 and December and November last year, which can be normal, but August 2023 saw a drop of 3.9% since the previous year and July was down 14% from July 2022. It’s promising for those thinking of selling to see the median price on a YOY increase, which shows some confidence is returning to the market - in 2023 each month saw a decline from the year before (except September and October). What does it mean for buyers? It should show that competition is strong in some cases even though it is a buyers’ market with lots of choice, but if they are holding off for the bottom, they may have missed it. Median days to sell is 48 days on the Shore, or 38 days in Forrest Hill and 35 in Milford, being sought after areas for buyers given the school zones, proximity to lovely beaches and the motorway. The median sale price for Forrest Hill for May was $1,260,000 and $1,355,000 in Milford. New Listing I am very excited to be presenting a new listing to the market this month. A stunning 3 bedroom home with wonderful sea views. Featuring two living spaces, 1 bathroom with your own sauna, off street parking and a very handy location.
Carla O'Neil Licensed Salesperson REAA 2008
P 021 559 348 E carla.oneil@harcourts.co.nz W www.carlaoneil.co.nz
Come view as you won’t want to miss out. If you know of someone looking for a delightful 3 bedroom on the Shore, please send them the information details overleaf. Don’t forget to tune into our live auctions every week, with this easy access QR code, or give me a call if you’re keen to come along to the auction room one day to see how we can get you sold. I’d love to take you. If there is anything I can assist with in the future, or an opportunity to meet over a coffee to answer any questions, please don’t hesitate to contact me, let’s meet up. Keep smiling!
Carla