Real Estate Sales
The November Report was publish on December 16, 2020 for the real estate sales for the month of November 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
November 2020: ¥337,200 per square meter a total of 1,444 units sold
November 2019: ¥338,500 per square meter a total of 1,445 units sold
Year-over-year change of -0.4% per square meter
Month-to-month change of -1.9% per square meter (October to November 2020)
New Properties Listed
November 2020: ¥400,300 per square meter a total of 4,902 units listed
November 2019: ¥377,800 per square meter a total of 5,071 units listed
Year-over-year change of 5.9% per square meter
Month-to-month change of 2.7% per square meter (October to November 2020)
Osaka City
Units Sold
November 2020: ¥469,000 per square meter a total of 333 units sold
November 2019: ¥460,000 per square meter a total of 362 units sold
Year-over-year change of 1.8% per square meter
Month-to-month change of -0.8% per square meter (October to November 2020)
２．House Sales (Detached Homes)
Kansai Region
Homes Sold
November 2020: average price of ¥20,380,000 for a total of 878 homes sold
November 2019: average price of ¥20,710,000 for a total of 856 homes sold
Year-over-year change of -1.6% (average price)
Month-to-month change of 2.5% (average price from October to November 2020)
New Properties Listed
November 2020: average price of ¥24,980,000 for a total of 3,140 houses listed
November 2019: average price of ¥25,030,000 for a total of 3,750 houses listed
Year-over-year change of -0.2% (average price)
Month-to-month change of -4.0% (average price from October to November 2020)
Northern Osaka (Hokusetsu Area)
Homes Sold
November 2020: average price of ¥27,030,000 for a total of 67 homes sold
November 2019: average price of ¥25,200,000 for a total of 53 homes sold
Year-over-year change of 7.3% (average price)
Month-to-month change of -10.2% (average price from October to November 2020)
３．Land Sales
Kansai Region
Lots Sold
November 2020: average price of ¥119,200 for a total of 711 lots sold
November 2019: average price of ¥118,100 for a total of 581 lots sold
Year-over-year change of 1.3% pricer per square meter
Month-to-month change of -1.2% price per square meter (October to November 2020)
New Properties Listed
November 2020: average price of ¥133,100 for a total of 3,244 lots listed
November 2019: average price of ¥131,500 for a total of 3,754 lots listed
Year-over-year change of 1.2% price per square meter
Month-to-month change of 0.0% price per square meter (October to November 2020)
Northern Osaka (Hokusetsu Area)
Lots Sold
November 2020: average price of ¥190,000 for a total of 63 lots sold
November 2019: average price of ¥177,000 for a total of 54 lots sold
Year-over-year change of 7.3% pricer per square meter
Month-to-month change of -10.2% price per square meter (October to November 2020)
Market Analysis
Condominiums
The ratio of the number of sales to new listings in November was 1:3.92 times, and the price divergence rate of new registrations was minus 5.6%. Extremely similar or near identical to the numbers for October. As for the ratio, the number of new listings continued to decrease, and the supply and demand improved slightly. For the third consecutive month the number of new listings have decreased. As for the price divergence rate, the rate of increase in newly listed prices increased, and supply and demand may turn to a easing (positive) direction.
In November, price per square meter increased by 5.9% year-on-year to approximately 400,000 yen / m², surpassing the previous year’s results for 43 consecutive months, dating back toMay 2017. Price per square meter also increased 2.7% month-on-month. The unit price of newly listed condominiums, in the 400,000 yen range, which was the price point back in May 1996.
Detached Homes
The ratio for sales to new listings in November was 1:4.13, and the price divergence rate was minus 21.4%. As for the ratio, the number of contracts concluded and the number of new registrations continued to decrease, and the supply and demand remained tight. On the other hand, as for the price divergence rate, the rate for decline in sales prices was greater the newly listed prices, therefore supply and demand continued to deteriorate.
Although the number of sales in November increased year over year, the average sales price year over year declined by 1.6% with an increase by 2.5%. The unit price for newly listed homes declined by 4% comparing the data provided for October.
Recap
We continue to experience an lack or a decline in new inventory when comparing month to month and year to year. The continued trend of potential sellers taking the “waiting and see” approach, being hesitant to go to market.
The Central Government has also made a few amendments to the Home Owner’s Tax Deduction and for Property Taxes in 2021. For more information on these tax reforms, read our last two blogs which is linked in our last sentence.
We shall see if these amendments will better the real estate market, and increase the demand in hopes to increase supply/inventory.
For additional information please contact us here
Email: info@remax-apex.com
For the original data in Japanese clink here → Kinki Reins