As the NZ housing market slows for the holidays before the March rush, vendors should be prepared for any shifts in the sales environment.

Of course, house prices, the availability of homes and mortgage rates influence buyer and vendor activity. But employment, the stock market, interest rates, elections, holidays and even the weather are other variables that affect the real estate market.

If you’re listing your home for sale, you should be aware of the following nine statistics to determine whether your home is priced appropriately and whether you need to make adjustments to your marketing plans with your real estate agent.

The local numbers to watch include:

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1. Average days on market: This indicates how quickly homes are selling.

2. New listings: It’s important to see new competition and compare prices.

3. Total listings: This shows you all the available homes from which buyers can choose.

4. Clearance rates: This figure will show you where the demand is, and what buyers are prepared to pay.

5: Passing in: Just as important as clearance rates is finding out if the properties that fail to sell under the hammer are finding buyers in the days after.

6. Expired, withdrawn or canceled listings: Study these to evaluate why these listings didn’t sell.

7. Price reductions: If sellers of homes in your neighborhood or similar properties to yours are dropping their prices, it may be time to reevaluate your offering.

8. Relisted properties: Homes that have been taken off the market may have been renovated, listed at a new price or simply refreshed as a new listing.

9. Mortgage rates: If mortgage rates rise, this could affect affordability for buyers and may mean you need to lower your price to compensate.