Constantia sales year to date
Category Market Update
Faith and I are always being asked 'what is happening in the property market' and we thought this may be a good time to have a quick summary. The following table gives a comparison up to the end of July in 2018 and 2019, and includes Upper Constantia, all Propstats data. So this does not include private sales or sales made by estate agents that do not report to Propstats.
|
Year ending 31 July Propstats |
Number of sales |
Average |
Total sales value |
Difference between asking and selling price |
Days taken to sell |
|
Upper Constantia 2018 |
54 |
R 13,568,425.91 |
R 668,715,000.00 |
-8.70% |
144 |
|
Upper Constantia 2019 |
37 |
R 11,817,972.97 |
R 437,265,000.00 |
-11.60% |
151 |
|
-12.90% |
-34.60% |
|
Constantia Doordrift 2018 |
16 |
R 5,068,750.00 |
R 81,100,000.00 |
-5.70% |
57 |
|
Constantia Doordrift 2019 |
11 |
R 4,643,636.36 |
R 51,080,000.00 |
-9.90% |
48 |
|
-8.40% |
-37.00% |
|
Constantia Hills 2018 |
8 |
R 6,326,250.00 |
R 50,610,000.00 |
-5.10% |
69 |
|
Constantia Hills 2019 |
7 |
R 6,367,857.14 |
R 44,575,000.00 |
-6.90% |
102 |
|
0.70% |
-11.90% |
|
Constantia Rural 2018 |
1 |
R 14,000,000.00 |
R 14,000,000.00 |
-12.50% |
219 |
|
Constantia Rural 2019 |
7 |
R 6,650,000.00 |
R 46,550,000.00 |
-9.90% |
193 |
|
-52.50% |
232.50% |
- It is a good time to buy in Upper Constantia; there have been a few high priced sales, but generally the prices have come down
- Constantia Hills with its good school access has held its value well.
- Constantia Rural has had some sectional title sales which have increased the number of sales and reduced the average value. 2018 had only one very high sale, so not a good comparison.
Properties are selling, and it is a great time to upgrade to a more expensive area. Pricing correctly remains key, and the increased days on the market is often due to sellers having to reduce their prices over time in order to sell.
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Author: Nikki Edenborough | Seeff Southern Suburbs
