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STEVE KOERBER’S
Quarterly REPORT Remuera Grammar Zone
Q4 | October | November | December 2020
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MEGAN JAFFE REAL ESTATE LTD (LICENSED REAA 2008)
Remuera Shines Bright - Sellers In Control
The strength of real estate markets nationwide during the last quarter of 2020 caught many by surprise.
The delayed impact of Covid-19 lockdowns, border closures, low interest rates and a general flight to safety saw sale prices and volumes increase at a pace rarely seen before.
Although Remuera wasn’t NZ’s hottest market, our premium suburb certainly made up for several years in the relative doldrums. Our median, hovering near $1,800,000 from 2016 until mid 2020, suddenly increased. As a result our quarterly rolling median finished almost 20% higher than it was 12 months earlier.
Apart from price increases, one of the most significant changes I saw in our market was evidence of some panic buying. Many people who sold early in 2020 were forced to compete with about 30% more
My auctions averaged 4 registered bidders each, as opposed to 3 just a year earlier.
A recent seller said “Steve you sell more homes in Remuera than anyone - you know the Remuera market so well and your results speak louder than words. They asked “Do you have time to service us properly”
My answer is “Nila & I love what we do. Being busier than others improves our knowledge & efficiency. The busiest agents meet more buyers and that’s great for you.”
Steve Koerber
buyers than they would have in 2019.
Remuera Number of Sales*
548 631
15.1 % Number of Sales Increase
*Includes all Remuera Grammar and non Grammar zone sales
DISCLAIMER: This issue of Remuera Market Report features a wide selection of the published residential property sales which have recently occurred. The Market Report includes information based on published reports of sales made by all real estate agencies and may include some private sales. While every reasonable effort has been made to ensure the accuracy of this information, however, as inaccuracies may occur, you should not confine yourself solely to the contents and should make your own inquiries to satisfy yourself in all respects. Megan Jaffe Real Estate Ltd Licensed (REAA 2008) Ray White Remuera accepts no responsibility should the contents of this Market Report prove to be incomplete or incorrect.
Remuera Median Sale Price*
Median Sale Price
1,605,000
12 months to November 2019
Median Sale Price
1,912,000
12 months to November 2020 19.1% Median Sale Price Increase
Number of homes sold
12 months to November 2019
Number of homes sold
12 months to November 2020