• October 2019 median sale price $425,000 compared to 2020 $570,000 [64 sold] – a price increase year on year of 34.1%.
• November 2019 median sale price $389,000 compared to 2020 $530,000 [67 sold] – a price increase year on year of 36.2% !
• December – well that is going to be interesting, so stay tuned for that.

New Rateable values were released in Gisborne in December, so there will be a bit of adjusting over the next few months as Buyers and Sellers try to guess what a particular property is worth by adding or subtracting an estimated % based on recent sale averages locally. It’s quite amusing hearing everyone’s comments about new RV’s … they really are quite irrelevant when talking about buying and selling and setting values, BUT what I would say to SELLERS – if you don’t agree with your new RV do make contact with the local Council. Often I hear Sellers saying “well our RV is wrong but we just didn’t object as we didn’t want our rates to go up !“. The reality is people – the annual rates do not increased a heck of a lot in the scheme of things, so that it wouldn’t warrant not lodging an objection to get your RV more reflect on value. In the long term, if you decide to sell, when Buyers start assessing property and focusing their numbers in and around the new RV; it may make a big difference to you as a Seller. So get over the perception of a huge rates hit upwards and look into it – stat !

I had an excellent year in my business with great improvements made for my Sellers & Buyers :

1. My 3D Matterport tours are just amazing – buyers can literally walk through a property from the comfort of their home;
2. My personal videos; buyers are loving, “genuine”, “real-time”, and all round “neat to watch” – are proving a hit with my social media followings too. I just roll them ‘off the cuff’ seeing it as I see it from a buyer’s point of view pointing out the benefits to buyers [ I have the occasional blooper but that is all part of the ‘keeping it real and keeping it true’ and if I can give someone a giggle along the way, why not ];
3. The floorplans are awesome too, to get the idea of sizes of rooms and spaces;
4. And, now my Smart Little Fee has the marketing costs ALL INCLUSIVE ! – YAY for sellers.

The cheapest house I sold early this year was $257,500 (wow – you wouldn’t buy that now in this new market at this price) [just on Covid] (2 bedrooms and needed a lot of work … what a very lucky buyer as he was in the trade and had the skills that most buyers were shying away from]; – and my highest sale was at $1,295,000, actually I sold two that same week all cash, around the same price range so yes there is definitely some awesome homes to be owned in Gisborne.

It’s also been a pretty emotional year for me. Buying is a hugely emotional process, and having to tell multiple buyers time and time again that they have missed out on their dream property has hit me hard; an aspect of this job that is often underestimated; it really isn’t just about ‘the sale’ for me.

So from me, my hubbie, TrevB aka the Maintenance Man, and my Amazing PA [Lynne McKay] – have a wonderful Xmas and spent time with family and friends and appreciate all that you have. Let’s all sprinkle love and good vibes everywhere we go as everyone deserves a little happiness – and, BRING ON 2021 it is going to be fabulous for all of us XOXO.

And talk about “spring” [L.O.L] : Gisborne Residential Sales in August 2020 continue to bloom – WOW [click to view] August 2020 Sales [You would have noticed that it usually takes 2-3 weeks before I can put together the sales for each month, that is because they are not fully released by REINZ until a few weeks into the next months; so that is the reason for that].

Gisborne median sale price took a little hit downwards from $480,000 in July to $460,000 in August (even so that is a huge median sale price for our City) – BUT 2020 August was up $60,000 compared to the same time last year. AND, one of the most significant stats is the number of sales. August 2019 there were 54 sold but in 2020 only 37 – so that is where that supply and demand issue keeps appearing, and consequentially driving those prices up.

The average sale price above 2017 RV in Gisborne has topped the charts at around 70% above.

So I thought, I would check out my recent sales and my average is 95% so YAY for my Sellers.

Anyways have a magic day and here is to us all blossoming out of the Covid-19 Blues and into a Pink Happy next few months.

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”.

• June 2020 was another excellent month in the Gisborne Real Estate world. ‘Stalled’ properties midst Covid-19, and those that were subsequently postponed, boosted the sold numbers for June 2020;
• Considering there were 57 sales in June last year, and a respectable 54 in June this year – Gisborne weathered the Covid-19 storm well – with a 6% increase on median sale price from $415,000 [May 2020] to $440,000 [June 2020]; AND
• A whopping 29.4% increase on median sale price from $340,000 in June last year, to a solid $440,000 June 2020;
• Looking at March, April, May, June 2020 – the Median sale price above the 2017 RV, was overall sitting around the 60-65% above;
• In June, there was such a vast range of residential properties sold – the cheapest being $155,000 [a unit in a lifestyle complex], and a Te Hapara riverfront home selling over the million dollar mark;
• As is typical with the Winter months, less good quality stock on the market, with Sellers waiting for the warmer months, means active buyers competing, which continue to drive the prices up;
• Gisborne continues with a strong market for Sellers – my advice if you are thinking of Selling, don’t wait for the Spring/Summer rush where you will be in competition with multiple other Sellers … jump the gun now, and stand out in isolation like a shining star, rather than in competition with masses;
• Curious about the market value of your property, and in the early stages of thinking about a property move : let’s talk, assess the true likely market value for your property and strategise the best plan of attack to get you moving onto your next real estate journey; the time has never been better;
• Book your Appraisal with me, Tracy your local Real Estate Expert. Naturally no cost, no obligation : just a relaxed informed professional opinion to give you some clarity about your real estate needs.

If you have any general real estate questions do feel free to call me on P: or M: always up for a chat and to help. And of course, if you are thinking of selling or know someone who is, I’d love to help.

Real Estate transactions in Gizzy were minimal during Covid-19, with only 9 sales in the Gisborne Region in April 2020; of those 9, we sold 2, one sight unseen in the middle of Covid-19 all cash, and the other was already under contract pre-Covid-19. My understanding that the other 7 were already under contract prior to entering into Covid-19 [April 2020 Market Facts]

As we have rolled through May, May has seen a reasonable turn-over of houses sold. With 35 sold in Gisborne, down on the same time last year but again that is directly related to Covid-19 and things will pick up June onwards. The openhomes returned to normal and BUYERS are BACK.  Multiple offers and buyer enquiry was strong.

Statistically of the sales in May 2020 the average sale price above 2017 RV throughout Gisborne Residential sat around 64-65% which is consistent with pre-Covid-19 sales.[May 2020 Market Facts]

With Winter now kicking in and we roll into June, Gisborne will have the same issue it has in recent times – a HUGE SUPPLY AND DEMAND ISSUES for good quality houses; and with demand comes strong/stable prices ! Yay for our local homeowners, and with the interest rates at the most ridiculous levels ever recorded … buyers have more opportunities to upgrade their existing home, leverage against their existing property to get into the investment market, or buy their first home. It’s a win-win, I say. Happy Days.

Overall March 2020 in Gisborne, NZ [with the exception of that last week that saw NZ placed into Level 4 Covid-19 Lockdown] real estate continued to be performing well. Click here for Market Facts for March 2020

30th April 2020 and we are into Week 1 of Level 3 lockdown in Gisborne. I am not ready to “surmise” what I think the real estate market is going to do after Covid-19 as this is an event of the “unknown” never experienced before. What I do know is that at the moment I have back to back buyer appointments all this week, with buyers ready to purchase. I have only had a handful of BUYERS, put buying on hold for either (a) the perception that the market is going to decline, or (b) their Kiwisaver deposit has taken a serious hit. If I was buying at the moment, I would be getting my ducks in a row so that when the RIGHT property presents itself to the market, then I would be ready, willing and able to buy.

And likewise, as a SELLER, if there was an opportunity that arose for my family to pursue, or a shift in circumstances or maybe downsizing/upsizing if it was suitable for your family to sell now, then sell if it works for you. It is possible that Sellers may hold longer, which means when properties are listed for sale, those buyers ready and willing to buy will act fast which in turn may drive demand for lack of supply?

There are just so many variables that affect the market … so I think Sellers will be taking a wait and see approach; but buyers – BUSY IS BACK!

As at 07.05.2020 we are into Week 2 of Level 3 lockdown in Gisborne. BRING on FREEDOM!

YAY – Thursday the 1th May 2020 Gisborne, NZ is moving in Level 2 which will enable more flexibility with Private Inspections and Open Home. So happy!