Orewa Central- Jan 24’ Market Update

How’s the Market Orewa Central - What’s happening in our market? Property has not performed well in Orewa, Auckland with prices declining -9.9% over the past 12 months. There have been 265 properties sold in Orewa, Auckland over the past 12 months, Taking a median over the last 12months homes are currently selling slower than last year at 60 days on market, compared to 47 days 12 months ago.

We have done the statistics for the month of Dec 23’ – Jan 24’ comparing it to sales in Dec 22’ to Jan 23’.  There were 35 sales Dec 23’ – Jan 24’ highest being $1,920,000 the lowest being $600,000 (apartment.) compared to 32 sales  for Dec 22’ – Jan 23’ . highest $1,850,000 the lowest being $840,000 (unit) it is interesting to note that the median sales price Dec 22’ – Jan 23 was $1,075,000 with the median sales price for Dec 23’ to Jan 24’ $1,232,500  (excluding Maygrove and sections) This is encouraging as we feel the tide is turning and house prices are starting to lift.

What’s my property worth? The information provided in this report is general in nature. Growth rates are provided for guidance and based on the historical performance of the suburb and are not a guarantee of future performance. To understand what your property is worth, don't hesitate to get in touch for a free appraisal so that we can discuss how the market's current performance is specifically relevant to your home.