SELWYN MARKET

As a leading real estate agency in the Selwyn District, Harcourts is committed to keeping our vendors informed about the latest market trends. With that in mind, we’re pleased to provide an overview of recent activity in our local market.

Despite minor fluctuations, the Selwyn District real estate market has shown strong resilience. A modest median sale price correction has taken place, but it’s important to view this within a broader context. In June 2023, the median sale price stood at $800,000, a slight increase from $790,000 in May 2023, indicating that prices are beginning to rebound.

Importantly, when we compare this with figures from three years ago, the median sale price has risen by a robust 43.1% from $559,000. This growth significantly outpaces the national average, and it underlines the strong long-term performance and value appreciation in Selwyn properties.

Looking at the number of sales and median days to sell, there is a trend towards an increasingly dynamic market. June 2023 saw 119 property sales, up from 112 in May 2023, suggesting a rise in demand. In tandem with this, the median days to sell decreased from 55 in May to 43 in June, a clear signal that properties are moving faster off the market.

The median list price of $759,000 in June 2023, slightly lower than the median sale price, hints at a favourable market for sellers. As properties are selling above their listed price, vendors can anticipate competitive bidding, and potentially a higher selling price.

Another key figure is the total sales volume, which has grown to $98,118,000 in June 2023. This 3.5% growth from the previous month suggests that the overall wealth generation in Selwyn’s property market is on an upward trajectory.

Selwyn District’s real estate market continues to demonstrate strong potential for property vendors. Encouraging growth indicators suggest that now may be a strategically advantageous time to sell. Harcourts, as an experienced and dedicated agency, is here to guide you through the process.

We encourage those considering selling their property within the next six months to reach out to us. With our extensive knowledge and commitment, we aim to help you achieve a premium price in the sale of your property in the thriving Selwyn District market.

$650,500

The REINZ data for Christchurch in June tells us the median sale price achieved by all companies was $650,500 Harcourts data tells us we achieved a median sale price of $690,000. That’s a $39,500 difference!