Have a look at these Statistics. After a fair bit of research these are the statistics of the New Plymouth Market for the last 6 months.
Month Total Sales Properties on Days on Median Sale
New Plymouth Market (approx) Market Price
Dec 70 840 34 $293,000
Jan 74 981 49 $311,000
Feb 101 1041 51 $320,000
Mar 62 1292 59 $340,000
Apr 80 1073 43 $307,500
May 87 1135 48 $332,500
As you can see the proportion of sales compared to the amount properties listed has a huge gap. As you can see the median sale price has a lot of variance in it, but in a small market such as New Plymouth and with a small total of sales there are many factors that contribute to any variance in this. Such as a couple of high priced sales or a few low priced sales within any month can swing this either way. But the average for the last 6 months was $317,000 up 3% on the 6 months prior.
But the thing that is evident from this is the amount of properties on the market. After the summer holidays were over it looks as if people put their homes on the market and this just flooded it. If you’re a vendor you have a lot of competition out there and if you’re a buyer you have a lot to choose from.