Real Estate Sales
The October Report was publish on October 22, 2020 for the real estate sales for the month of September 2020. The data includes the average price per square meter for listings in the Kansai region in one data set. The Kansai region includes Wakayama, Osaka, Nara, Hyogo, Kyoto, and Shiga Prefectures.
Data for Real Estate Sales will not included new construction.
The Data will be broken down into three categories:
- Condominium Sales
- House Sales
- Land Sales
Sub categories will include units sold and the number of new listings to hit the market.
１．Condominium Sales
Kansai Region
Units Sold
September 2020: ¥337,000 per square meter a total of 1,547 units sold
September 2019: ¥334,000 per square meter a total of 1,582 units sold
Year-over-year change of 1.0% per square meter
Month-to-month change of -2.3% per square meter (August to September 2020)
New Properties Listed
September 2020: ¥390,000 per square meter a total of 5,305 units listed
September 2019: ¥370,000 per square meter a total of 5,626 units listed
Year-over-year change of 5.3% per square meter
Month-to-month change of -0.9% per square meter (August to September 2020)
Osaka City
Units Sold
September 2020: ¥468,000 per square meter a total of 379 units sold
September 2019: ¥471,000 per square meter a total of 426 units sold
Year-over-year change of -0.7% per square meter
Month-to-month change of 2.4% per square meter (August to September 2020)
２．House Sales (Detached Homes)
Kansai Region
Homes Sold
September 2020: average price of ¥20,420,000 for a total of 935 houses sold
September 2019: average price of ¥20,790,000 for a total of 942 houses sold
Year-over-year change of -1.8% (average price)
Month-to-month change of 3.3% (average price from August to September 2020)
New Properties Listed
September 2020: average price of ¥25,79,000 for a total of 3,515 houses listed
September 2019: average price of ¥24,990,000 for a total of 3,964 houses listed
Year-over-year change of 3.2% (average price)
Month-to-month change of 0.8% (average price from August to September 2020)
Northern Osaka (Hokusetsu Area)
Homes Sold
September 2020: average price of ¥29,180,000 for a total of 79 houses sold
September 2019: average price of ¥25,950,000 for a total of 75 houses sold
Year-over-year change of 12.4% (average price)
Month-to-month change of 12.3% (average price from August to September 2020)
３．Land Sales
Kansai Region
Lots Sold
September 2020: average price of ¥119,000 for a total of 773 lots sold
September 2019: average price of ¥112,000 for a total of 602 lots sold
Year-over-year change of 5.9% pricer per square meter
Month-to-month change of -3.5% price per square meter (August to September 2020)
New Properties Listed
September 2020: average price of ¥134,000 for a total of 3,650 lots listed
September 2019: average price of ¥132,000 for a total of 4,217 lots listed
Year-over-year change of 1.2% price per square meter
Month-to-month change of -5.3% price per square meter (August to September 2020)
Northern Osaka (Hokusetsu Area)
Lots Sold
September 2020: average price of ¥207,00 for a total of 91 lots sold
September 2019: average price of ¥173,000 for a total of 59 lots sold
Year-over-year change of 19.5% pricer per square meter
Month-to-month change of 3.8% price per square meter (August to September 2020)
Market Analysis
Condominiums
The unit price (price per square meter) of condominiums in the Kansai region for September was 337,000 yen per square meter, up 1.0% year-on-year, surpassing the same month last year for 3 consecutive months, but down 2.3% month-on-month. The number of units sold decreased when comparing to last year’s data, but the unit price of sold units rose slightly.
In September, the listed price per square meter increased by 5.3% year-on-year to 390,000 yen/m², surpassing the previous year’s results for 41 consecutive months. This dates back to May 2017. The month-on-month change was -0.9%. The unit price of newly listed properties remained at the 390,000 yen level, which were the unit price points back in March 1996.
Detached Homes
The number of detached houses sold in the Kansai area in September was 935, which were almost the same as the previous year, down 0.7%. As with condominiums, the number of transactions began to decline dating back from August of this year.
As for new inventory, there were 3,515 new properties listed in September, a double-digit decrease of 11.3% from the previous year. A continued trend for six consecutive months. We can assume the seller’s wait-and-see attitude continues.
Recap
Can we confidently say the market is recovering from the decline in sales and inventory at the beginning of the COVID-19 pandemic, yes.
But with the recovery in the market, we continue to observe the supply and demand being stagnant. Gradually the general public is becoming more and more confident during the “with COVID economy,” with the more conservative thinkers staying “conservative” with their spending. Interests rates on mortgages are still at a all time low.
One major change Japan experienced in September was the change in Prime Minister. With change typically excitement follows. As everyone else is thinking, how will the new Prime Minister implement his ideologies and policies to bring Japan out of the years long recession the economy has been facing.
Putting all the data and analysis aside, we are glad to see the market stabilize and rebound back to almost pre-COVID numbers.
For additional information please contact us here
Email: info@remax-apex.com
For the original data in Japanese clink here → Kinki Reins