Sales volume and median sell price momentum continues into October.
As we head into the festive season the greater Ponsonby real estate marketplace continued its cadence from September into October with a healthy 75 completed transactions for the area (Ponsonby, Grey Lynn, Herne Bay, Saint Marys Bay, Freemans Bay, and Westmere). Sales volume was also well up on the prior October’s 63 sales, and we continue to see more property stock come to market late in the season as sellers and buyers alike make up for lost time earlier in the year.
As I write (23/11) the market is showing few signs of winding down for Christmas with many vendors still seeking campaigns into December, healthy attendance at open homes, and a strong interest in all property types. Over the preceding weekend, my associate Hamish Kofoed and I conducted eight open homes over two days, meeting over 100 potential buyers across four different properties. We are seeing a real mixture of buyer types; recently returned ex-pats, mums and dads shopping for ex-pat family members who are still away, first/second home buyers, as well as a large number of existing greater Ponsonby residents looking toward their next property. We are also seeing a definite shift ‘across town’ from the Eastern Bays and Remuera as empty nesters, free from the constraints of the school-run, seek an easier lifestyle closer to the city and younger family members already in the area.
This overall activity is helping to consolidate the recent upshift in the median sell price that we have seen in greater Ponsonby. After September’s 15% month-on-month median sell price increase to $1.9M, October’s median sell price of $1.96M moves the market very close to the $2.0M mark, despite the increased level of supply compared to previous months.
PREPARING YOUR HOME FOR SALE
In the November issue I talked about the increased number of ‘super first home buyers’ who are very active in the $2.0M - $3.5M price bracket and competing for 3-4 bedroom family homes with confidence and conviction. Several aspects can make your property more attractive to these particular buyers when preparing your home for sale over the summer break and can potentially improve the overall success of your campaign.
Here’s my top five:
• Gardens – Younger demographic professional couples are increasingly time poor. A well-landscaped garden with low maintenance plantings, manageable lawns, and safe play areas for children are super-appealing to these buyers.
• Kitchens – Slightly tired kitchens can often be a deal-breaker for these buyers, and at this price point your competition will often have recently updated kitchens. Worn door fronts, kick plates, loose handles and the like can often be remedied quite economically via cabinet makers such as Cutshop, and your local hardware store has good supplies of hinges, handles, and other fixtures to help bring your kitchen up to a presentable standard. Often your friendly house painter can also be a dab hand at sprucing up older wooden doors (Resene Alabaster can do wonders)
• Lighting – Lighting is critical in many Ponsonby villas and bungalows that suffer from a less than ideal orientation toward the sun. Compensate for this with sufficient lighting in darker areas to improve the appeal of your home during buyer inspections.
• Clean and Dry – Buyers can be strongly discouraged by less than clean kitchens, toilet areas, bathrooms and walls, especially with un-renovated/tired properties. Dry down and ventilate all wet areas before open homes and make sure recently used towels are replaced with fresh (matching) new ones. Super-clean homes keep buyers engaged and make their visit more pleasurable.
• Minimise – Decluttering your home allows buyers to better visualise how they can live in the property and increases the feeling of space and simplicity. Storage King Richmond Road has some great rates for temporary storage and is a great way to get your stuff out of the house and also start preparation for your next move.
As a part of my service, all of my homes are adorned with a fresh set of New Zealand made luxury candles from Kas Shera at Kasbah – kasbahdesign.co.nz (French Vanilla is my favourite) as well as fresh flowers from Leon Reynolds at Enchanted Rose Flowers on Jervois Road – enchantedrose.co.nz. If you would like advice on preparing your home for sale over the summer, please call me for a chat.
2020 has been a tough year for many of us. Take care over the festive season and holiday break and if you are able, take some time to relax and enjoy time with those closest to you. Thank you for reading. Merry Christmas!
Charlotte Kofoed, M: 021 241 9394, T: 09 353 1220, www.ckre.co.nz, E: charlotte.kofoed@nzsir.com
October 2020
Properties Sold 75
Average Sell Price $2,237,152
Median Sell Price $1,960,000
September 2020
Properties Sold 73
Average Sell Price $1,910,418
Median Sell Price $1,900,000
October 2019
Properties Sold 63
Average Sell Price $1,801,992
Median Sell Price $1,620,000
REINZ statistics for Freemans Bay, Ponsonby, Grey Lynn, Westmere, St Marys Bay & Herne Bay