Monthly Market Update - November
Rising like a Phoenix from the ashes is a simile that beautifully sums up the Christchurch real estate market for the month of November.
The Canterbury region continued its median price records with a nice climb to $468,000 demonstrating that buyers are seeing value right across Canterbury. Christchurch City also set a median price record of $485,000 as the CBD heartbeat grows stronger, invigorating housing confidence across our great city. Open home numbers continue to surge on the back of favourable monetary rates, and buyers are eyeing up Christchurch as a place to invest in.
Days on market for November sat at 35 days, increasing by one day compared to last month. Total sales in Christchurch remained steady at 640, up 5 from November 2018.
Based on the numbers recorded thus far, 2019 will finish strongly in December as the healthy market pauses in the late stages to take a breath over the traditional holiday break. Of course property listings are the lifeblood of any real estate business and the volume of listings coming into Harcourts from across the city continues to track well. Harcourts remains the preferred real estate company in Christchurch, with close to every second new property to the market being listed by your city’s favourite real estate brand.