The months of August and September have been slow for real estate in Arrowtown, the main cause being the lack of properties for sale.
As Spring matures we are seeing more activity and a renewed surge in listings, this should kick start the market back to normal sale levels for this time of year. The YTD average sale price of $1,093,093 has increased by 1% from October last year, so we see a slow but gradual softening of prices in the coming months, especially over the $1 million dollar bracket.
Construction in the Wakatipu is still booming across all sectors of the market with most contractors reporting 6months to a year work ahead of them. Sections in Arrowtown remain scarce, now that Arrow South has been fully sold.
Enjoy the months of Spring and Summer about to knock on our door.