The Whangarei real estate market has been hectic since the lockdown, as has been the trend throughout the country. I don’t think anyone predicted a buoyant market and most pundits expected a slow and cautious market through the winter and early spring.
The demand from first home buyers, families and investors has been strong, resulting in record median prices. The supply of new listing stock (down 30% on the same period last year) has not kept up with demand resulting in strong and competitive bidding at auctions and multi offers on most new listings.
With the overall shortage of new spring listings throughout the Whangarei District there is a strong possibility the demand will continue to outstrip supply.
Buyers will need to be prepared to compete for their favoured property and should, if possible, have their finance pre-approved, do as much homework as possible and know their buying capability.
With summer just around the corner there are likely to be more buyers coming in to the market as Whangarei offers an attractive lifestyle to those looking to move north.
If you are a seller, now is a great time to get your home on the market - you may be surprised at the price you can achieve.
Give us a call at EVES Whangarei for a no obligation appraisal.