Market Report

EARLY SPRING 2018

What’s happening in our market?
Buyer inquiry still remains high for property in Arrowtown with listings remaining tight. It has been this way for well over a year now.
Sales are slightly down from this time last year (June and July) with eight residential sales and one section sale.
Sales remain seven behind year to date compared to this time last year. This is mainly due to the lack of listings on offer.
The average selling price of a residential dwelling year to date ending July is $1,054,557, up slightly by 3.7% compared to this time last year.
There is a lot of good work being done around Arrowtown at the moment with the Predator Free group trapping stoats and ferrets, but need to question the Wilding Pine group who indiscriminately cut down mature trees and leave them there. Some are not the Pinus Contorta (the wilding pine) but wonderful specimen trees that have been around for 80 years or more. What they are creating is a fire hazard and an eyesore.
It would appear Spring is just around the corner, with longer daylight hours and warmer temperatures beginning to appear.