The median sale price rollercoaster
These are my final musings for 2019 so I thought a brief recap of the year in real estate for Upper Hutt would be quite timely. At the time of writing this, the November sales haven’t been released so I’ve only got January to October to comment on.
Since January 1st the Real Estate Institute has counted 688 sales in Upper Hutt until October 31st compared with 681 at the same time last year and 689 as at October 2017. These figures show that we are in a very consistent market and I don’t foresee anything in the immediate future that should change that.
The median sale price has been on a roller coaster with $600,000 in February being the highest month and $520,000 in March being the lowest figure. Regular readers will know that I generally pour scorn on these figures as they are in no way a practical way to see how our local market is performing. The proof being in the figures above, does anyone really believe prices dropped $80,000 in a month?
If you do I’m afraid I can’t help you, you’re probably the same person who believes that GVs are relevant to the selling price of a house.
On another note, I would like to thank all my vendors from this year and every year, it’s a great honour to do my job, and I’m grateful to everyone who has trusted me with what is generally their largest asset. I will never take for granted my success due to you and will always remember just how stressful selling a property is. Again I thank you!