Key Facts

  • Barfoot & Thompson experienced strong sales growth in the top-end landscape.
  • There was a 13% increase in sales from October and 37% increase compared to November last year.
  • The average selling price increased by 9% to $1,185,820 in November, with the median price at $1,018,000.
  • Higher priced homes contributed to the rise in average selling price, with 23% of sales over $2 million in November.
  • Listings were stable, with numbers being 1841 in November compared to 1829 in October.
  • The November inventory increased to 4841, a 6% increase compared to October.
  • The firm made 91 sales for properties over $2 million and 24 sales for those valued over $3 million.

Article Summary

Barfoot & Thompson observed notable sales growth in the top-end market segment in November. The real estate agency recorded a substantial uptick in the number of home sales, selling prices, and new home listings. Relative to October, the total sales increased by about 13%, reaching 956, displaying a marked recovery from the 700 sales observed in November of the previous year, an increase of 37%. The spike in average home-selling price, up 9% from October to $1,185,820 in November, was likely driven by a surge in higher-priced real estate transactions.

New listings maintained a stable figure at around 1841 in November, similar to the 1829 listings in October. On the other hand, the number of total stock available for sale rose by 6% in November to 4841, potentially appeasing buyers’ appetite for more choices. The impressive sales data solidifies just how beneficial the positive gains have been for the property market, according to Barfoot & Thompson’s Managing Director Peter Thompson.

The top end of the market also saw significant transactions with the number of properties sold for over $2 million being the highest in 20 months, totaling 91 sales. Particularly, 24 properties fetched over $3 million, marking another 20-month record. These figures suggest a resurgent buyer interest in premium properties, setting the stage for potentially fruitful trading in December.

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