Real Estate listings are now down significantly nationwide

Mangonui Upper Harbour

You might have noticed that your TradeMe Property notifications have been a little less frequent recently. Or perhaps you’ve seen that the window in your local real estate office is looking a bit sparse. After a huge flurry of buying and selling this past year, listings are down significantly nationwide and even more so in Northland. In fact, most salespeople in this area have just 1—3 advertised properties right now. Michael says this is the lowest amount of available listings he’s seen in 17 years in the business.

Buyers were plentiful and keen even before lockdown, and a few weeks stuck at home has only spiked interest levels further. Notably, we’re seeing many purchasers who are cashed-up (i.e. not reliant on finance or selling their own property) and ready to make an offer with few or no conditions. Many of these buyers are also local, which is suddenly a crucial advantage now that buyers from out of region are unable to travel to the area to inspect properties in person. Some sellers just don’t want to wait — and the state of the market means they don’t have to. Afraid of missing out, buyers from other regions are sometimes deciding to make an offer on a property sight-unseen, or based only on a virtual walk-through.

This is all very good news if you’re thinking of selling in the Far North. We have a large database of buyers who are both cashed-up and prepared to act. We have started to see a few more listings become available in recent weeks, indicating that the market may once again be changing — so if you’re on the fence, now’s the time to make a move and get in touch.