So we set sail right through a very buoyant July market in Gisborne, G-Town, Gizzy [whichever one you like to use at the end of the day it is a pretty cool place to live]. We reached a new record, with the Median Sale Price for July 2020 hitting $483,000 WOW ! However, sales were down significantly, dropping 39% compared to last year; we were the only region in NZ to see a drop in sales count. The lack of listings is what is driving prices [and of course our City is a safe friendly haven]; there are still lots of buyers and multiple interest on properties. We were one of the three regions in NZ to see listings drop by just under 27% compared to 2019; hence the frenzy and sky-rocketing median sale price for July 2020. My most recent Tender campaign saw 13 Tenders and the result was a sale price @ 115% above 2017 RV #soproud #happyseller #happybuyer – YAY.
With sales volumes down from 54 in July 2019 to just 33 in July this year, no wonder Gisborne reached that record median sale price. The classic “supply and demand” – 100% … there is enormous demand and super low supply [thinking of selling – THE TIME IS RIGHT !]. July 2020
Anyways now August 2020 was looking great and we were rolling along nicely; and then, … it happened; we are in LEVEL 2 (but hopefully only for a few days – time will tell). I managed to create a QR Code for Tracy Real Estate so that was really neat so we can help clients keep track of their movements; and NOW, we wait, we hope, we commit to do everything we can to stop that virus.
So let’s see what happens over the next few days. Keep safe, but most of all … keep your distance, keep healthy and “sign-in – we will STOP this virus”.