Paarl Property Market Report - January to July 2023

The Paarl residential property market has been under severe strain during the 1^st semester of 2023 relative to 2021, with total registrations dropping by 26% from an average of 70,25 units p.m. (valued at R221 million p.m.) to 51,8 units p.m. (valued at R176,6 million p.m.).

There are according to CMAinfo 44 "suburbs" in the Paarl. R1 059 843 of residential property sales registered during the first 6 months of 2023 - of which own title (houses) represented 263 registrations to the value of R986 616 741. That relays to about 44 houses per month - valued at R164 436 123.

Sectional title registrations form a relatively small proportion of the property market. Only 48 "apartments" registered during the first 6 months of 2023 - valued at R73 225 800 or R12 204 300 per month.

Avg. Home Price                            Avg. Apartment Price

R2 451 518                                    R975 833

Avg. Days On Market                    Avg. Days On Market

64                                                  N/A

Homes Sold                                  Apartments Sold

28                                                  6

Highest Home Price                      Highest Apartment Price

R3 400 000                                    R1 300 000

(2 Hillside Street)                           (Unit 4, Crystal Hof)

Lowest Home Price                        Lowest Apartment Price

R730 000                                       R740 000

(23 Moederkappie Street)              (Unit 83, De Oude Werf)

If you are looking to buy in Paarl or would like to sell your property, please contact our accredited sales agents, Willie & Barbara Strydom (082 495 2600 & 083 340 3162 / willie.strydom@cch.co.za & barbara.strydom@cch.co.za) & Elna Schulze (082 577 7033 / elna@cch.co.za).