Barfoot & Thompson house sales fell 8% from June to July and the average price dipped slightly. Compared to a year ago, however, both figures were ahead.
The agency’s monthly sales have exceeded those for the same month in 2017 for 4 consecutive months.
Managing director Peter Thompson said on Friday this price-beating trend (albeit down from June) was stabilising prices: “The average sales price in July, at $912,487, is in fact the highest average sales price we have recorded in a July, although it is down 1.8% on that for June. The median price for the month, at $810,000, is exactly the same as it was in June, and the same as it was for July last year.
“July is traditionally when prices reach their low point for the calendar year and, with sales numbers holding up, the signs are there that not only is the market weathering winter well, it is setting itself up to be active in the coming spring.
“Another pointer to prices remaining stable is that new listings, at 1057 for the month, were down to their lowest level this year, and the trend of declining choice for buyers has been growing since April.
“At 4115 properties at month end, we have the lowest stock levels for 10 months. While still some way above the squeeze felt during the active trading years of 2013-17, available choice is definitely declining.
“Homes for under $500,000 continued to be well represented in the sales figures, with sales in this price segment representing 9.8% of all sales.
“Sales of homes over $1 million represented 32.3% of all sales, with 4.1% of this number achieving a sales price of more than $2 million.
“Sales of lifestyle & rural properties were up 21% on those for June, with solid sales in the Swanson & Pukekohe areas.
“Interest in beef & dairy farms in the far north is higher than normal at this time of the year. With listings being limited, prices for this type of property remain stable.”
Attribution: Agency release.