Taupo Market Stays Resilient
Our March 2024 statistics are presenting a promising opportunity for real estate investors looking for robust markets amidst fluctuating economic conditions.
While the region had 81 sales overall across all sectors in March, inclusive of 6 sections and 1 Rural, we at Bayleys Taupo had our largest number of house sales in 2 years. But what has driven these high sales numbers this year? We ask Yvette, Branch Manager what she believes has influenced these statistics, who says “A combination of pent up demand, a timing issue and buyers understanding that interest rates may have now peaked. The end of peak season buying period could also be factored in”. While sales seem to be trending up once again, this is in the midst of the highest number of properties we have seen on the market in over a decade.
Taupo Property Sales 2024
Yvette Westerman
Branch Manager - Bayleys Taupo & Turangi
Licenced Sales Person (REAA 2008)
What does this mean for you if you’re looking to sell your home? With so much competition, (comparable houses to yours), it is crucial that your property is brought to the market with a realistic price tag. Unfortunately we see it happen all too often when another sales person will quote an unrealistic price for a home.
“In the face of nationwide economic uncertainty, Taupo’s real estate market has demonstrated resilience and growth, boasting its strongest sales figures in March 2024 since the peak of March 2021.”
When a property is introduced to the market with an unrealistic price tag, it faces the risk of losing its momentum right at the outset during the crucial launch phase. This often stems from a lack of initial enquiry, which results in the listing becoming stale, and creates a negative perception among potential buyers. Consequently, these issues can dramatically extend the time it takes to secure a sale.
Number of listings on the market Taupo
Auctions are proving to be a great pricing method for selling your home, with our statistics showing that they have the shortest days on the market out of all pricing methods. Yvette recommends sellers listen to their salesperson, and study the sales data provided on both the local and the national market.
For real estate investors, this underscores the importance of understanding local market dynamics, leveraging auctions for quicker sales, and the necessity of acting decisively in a market where properties continue to attract attention and command solid prices.
Written by - Ashleigh Crighton