Real Estate Sales
The January Report was publish on January 22, 2020 for the real estate sales for the month of December 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
December 2020: ¥345,600 per square meter a total of 1,425 units sold
December 2019: ¥331,400 per square meter a total of 1,375 units sold
Year-over-year change of 4.3% per square meter
Month-to-month change of 2.5% per square meter (November to December 2020)
New Properties Listed
December 2020: ¥394,000 per square meter a total of 4,598 units listed
December 2019: ¥376,100 per square meter a total of 5,209 units listed
Year-over-year change of 4.8% per square meter
Month-to-month change of -1.6% per square meter (November to December 2020)
Osaka City
Units Sold
December 2020: ¥463,000 per square meter a total of 322 units sold
December 2019: ¥446,000 per square meter a total of 322 units sold
Year-over-year change of 3.8% per square meter
Month-to-month change of -1.1% per square meter (November to December 2020)
Northern Osaka (Hokusetsu Area)
Units Sold
December 2020: ¥358,000 per square meter a total of 195 units sold
December 2019: ¥368,000 per square meter a total of 164 units sold
Year-over-year change of -2.5% per square meter
Month-to-month change of -2.2% per square meter (November to December 2020)
２．House Sales (Detached Homes)
Kansai Region
Homes Sold
December 2020: average price of ¥21,120,000 for a total of 873 homes sold
December 2019: average price of ¥20,530,000 for a total of 852 homes sold
Year-over-year change of 2.9% (average price)
Month-to-month change of 3.6% (average price from November to December 2020)
New Properties Listed
December 2020: average price of ¥25,880,000 for a total of 3,029 houses listed
December 2019: average price of ¥25,080,000 for a total of 3,556 houses listed
Year-over-year change of 3.1% (average price)
Month-to-month change of 3.5% (average price from November to December 2020)
Northern Osaka (Hokusetsu Area)
Homes Sold
December 2020: average price of ¥29,130,000 for a total of 97 homes sold
December 2019: average price of ¥28,900,000 for a total of 74 homes sold
Year-over-year change of 0.8% (average price)
Month-to-month change of 7.8% (average price from November to December 2020)
３．Land Sales
Kansai Region
Lots Sold
December 2020: average price of ¥117,800 for a total of 616 lots sold
December 2019: average price of ¥115,900 for a total of 609 lots sold
Year-over-year change of 1.6% pricer per square meter
Month-to-month change of -1.2% price per square meter (November to December 2020)
New Properties Listed
December 2020: average price of ¥128,800 for a total of 2,935 lots listed
December 2019: average price of ¥135,000 for a total of 3,749 lots listed
Year-over-year change of -4.6% price per square meter
Month-to-month change of -3.2% price per square meter (November to December 2020)
Northern Osaka (Hokusetsu Area)
Lots Sold
December 2020: average price of ¥185,000 for a total of 63 lots sold
December 2019: average price of ¥182,000 for a total of 64 lots sold
Year-over-year change of 1.6% pricer per square meter
Month-to-month change of -2.6% price per square meter (November to December 2020)
Market Analysis
Condominiums
The number of condominium closed in the Kansai area in December was 1,425, which was an increase of 3.6% from the previous year.
The average price per square meter for condominiums in the Kansai region in December was ¥345,600 / m², up 4.3% from the previous year. This year over year increase is the first observed in the last three months. Unit price also increased by 2.5% compared to November 2020.
In December, there were 4,598 units listed, a double-digit decrease of 11.7% from the previous year. This decreasing trend has continued for the last four consecutive months. The supply and demand ratio continues to improve.
While the number of closings has increased, the number of new inventory has continued to decrease, and the seller’s wait-and-see attitude in the market is strengthening.
Detached Homes
The number closings in the Kansai region in December was 873, an increase of 2.5% from the previous year. This trend has continued for three consecutive months.
The average sales price for detached houses in the Kansai region in December was ¥21,120,000, up 2.9% from the previous year, this trend was observed for the first time in 10 months. Average sales price also rose 3.6% compared to November 2020. The sales price of houses, which had been on a downward trend due to COVID-19, has finally begun to rise.
In December, there were 3,029 houses were listed, a double-digit decrease of 11.7% from the previous year. This decreasing trend has continued for the last nine consecutive months. Just as with condominiums, the supply and demand ratio continues to improve.
Recap
With demand staying stable and the inventory continuing to decrease, the sale to inventory ratio for condominiums 1:3.87 and 1:4.07 for detached houses in December 2020.
More of the same can be projected to be observed in Q1 of 2021. The Second State of Emergency currently in place for Osaka and the other major cities in Japan. The State of Emergency will be lifted after the first week in February.
How long will the potential sellers take the “wait and see” approach? I guess we will have to also wait and see.
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For the original data in Japanese clink here → Kinki Reins