November 2024 Housing Market Update

Auckland’s housing market saw a strong rebound in November, driven by improved market confidence, falling mortgage rates, and a stabilising economy!

Key Highlights:

• 1,002 properties sold, up 6% from the previous three months.

• Total sales value reached $1.134 billion, a notable rise from previous months.

• Median price increased to $1,011,000, surpassing the $1 million mark for the first time in five months.

• Average price rose to $1,132,795, up 2.4% from the previous quarter.

• Sales in the under $750,000 range made up 22.3% of sales, while the $2 million+ market accounted for 5.2%.

With 1,782 new listings, stock levels remain high, providing plenty of options for buyers. The market is positioned well for a dynamic summer selling season.

Want to know what this means for your home? Contact us today for a free appraisal!