A warm winter so far for the greater Ponsonby marketplace.
Looking to the REINZ statistics for the greater Ponsonby area (Ponsonby, Grey Lynn, Herne Bay, St Marys Bay, Freemans Bay and Westmere) we saw 55 completed property sales in June, up markedly from 31 in May. The median sell price also exhibited strength at $1.75 million, up 17% on June last year.
The REINZ data also shows an increased willingness on the part of sellers to utilise the auction method of sale, with a third of all properties sold under the hammer compared with a quarter in June last year.
READER QUESTION
I received some great feedback after my last newsletter talking about the keys to a successful auction campaign. One reader contacted me and asked, “why would I go to market now when I cannot see anything else that I would like to buy?” This is a good question. Demand is far exceeding supply for all types of property in the greater Ponsonby area at present, and buyers generally have less choice. (Which of course means it is a great time to sell!)
But if you are struggling to find what you are looking for through websites and printed advertising, do talk to us about your requirements. We are often speaking with home owners in the early stages of preparing to sell and may already have a listed property that is exactly right for you. If we’re well aware of what you’re looking for we can often arrange a pre-launch viewing, which brings me to a topic that is becoming increasingly relevant.
SELLING OFF-MARKET VS AN ADVERTISED CAMPAIGN
We are often contacted by home owners who would like to sell their homes quietly via our databases without any advertising, open homes, signboards or any of the usual tools that accompany a traditional campaign. Occasionally this works incredibly well. My colleagues and I have successfully completed many off-market confidential sales in this way to the mutual benefit of both parties. In this situation we are legally required to carry out all due process as we would with an advertised listing, including a market appraisal, the signing of an agency agreement tailored to the individual situation, and the associated client due diligence for the Anti-Money Laundering and Countering Financing of Terrorism Act 2009.
Whilst we have concluded off-market sales in all price brackets, in most cases we do recommend a carefully planned campaign tailored to your target market. There are always new buyers entering the market who have not yet engaged with real estate agencies, particularly potential buyers currently residing overseas and considering returning home. Furthermore, often the ‘best’ buyers are not actively looking but happen to see a beautifully presented and well-advertised home, fall in love with it and make an emotional decision to own it.
At New Zealand Sotheby’s International Realty we offer you more than the standard local print media and real estate websites. Our exclusive listings also have complimentary presence on our www.sothebysrealty.com global website which generates nearly three million monthly visits. Our listed properties are also featured across all our media partner sites including the New York Times and Wall Street Journal. This lets us effectively target the expat market which is particularly important in the current environment.
As opposed to an off-market campaign, this no-stone-left-unturned approach to your sale generates competition for your property and ensures that you can feel completely confident that the value of your property has been maximised.
If you are thinking about selling I’d be happy to talk with you about the greater Ponsonby market trends, and the value we can bring by correctly positioning your property with an effective campaign strategy.
Be it an ‘off-market’ or fully advertised campaign, I would welcome the opportunity to discuss these methods at any stage. Please feel free to call me for a confidential chat. Thank you for taking your time to read my column.
Charlotte Kofoed, M: 021 241 9394, T: 09 353 1220, www.ckre.co.nz,
E: Charlotte.kofoed@nzsir.com