Stellenbosch Residential Property Market Shows 26,2% Growth in Rand Value in 2024

Stellenbosch Residential Property Market Shows 26,2% Growth in Rand Value in 2024

1. Comparison between 2023 and 2024’s residential property sales

The Stellenbosch residential property market demonstrated significant dynamism and growth throughout 2024 when compared to the preceding year. Total annual sales (registrations) saw a noteworthy increase of 11.4%, rising from 1578 sales in 2023 to 1758 in 2024. The total Rand value of these transactions experienced a substantial surge of 26.2%, climbing from R3.78 billion to R4.77 billion.

Stellenbosch's property market witnessed an uplift in the average number of monthly sales, increasing from approximately 131 units (valued at R315 million) in 2023 to around 147 properties (valued at R398 million) in 2024. Consequently, the average price per property achieved in 2024 appreciated by 13.3% to R2 714 643, up from R2 396 476 in 2023.

1.1       Own Title Market (houses):

In 2024, Stellenbosch recorded a decrease of 29.7% in the number of house sales, with 638 houses sold for a total value of R2 931 261 275. However, despite the drop in volume, the total Rand value increased by 13.4% compared to the 908 houses worth R2 585 049 736 sold in 2023. Throughout 2024, an average of approximately 53 house sales occurred per month at an average price of R4.59 million per house.

1.2       Sectional Title (apartments):

Stellenbosch experienced a significant increase of 8.4% in apartment sales, with 643 sectional title units (apartments) sold for a total value of R1 692 196 873 during 2024 – in comparison to 2023’s 593 units worth R1 052 057 148. This translates to about 54 apartment sales per month at an average sales price of R2.63 million per unit.

1.3       Vacant Land (plots):

83 vacant land plots to the value of R148 885 000 were registered during 2024 – in comparison to 2023’s 77 plots worth R143 532 363. This equates to approximately 7 plot sales per month at an average sales price of R1.79 million per plot.

2. Sales per Stellenbosch Suburb

2.1        Own Title - Houses:

According to CMAinfo data, here's an overview of the own title (house) market within specific Stellenbosch suburbs during 2024, ordering the suburbs from the highest to the lowest total Rand value of sales:

• Stellenbosch Rural: Recorded the highest total sales value with 172 house sales amounting to R561 200 641. The average price was R3 262 794. The highest priced home sold for R25 500 000 at 17 Rozendal.
• De Zalze: Followed with 17 house sales totalling R308 610 000, resulting in an average price of R18 153 529. The most expensive property fetched R62 250 000 at 9 Melck Street.
• Paradyskloof: Registered 33 house sales with a combined value of R223 975 250, averaging R6 787 129 per sale. The top sale was R14 500 000 for a property at Erf 17652 Welgegund Domaine Estate.
• Dalsig: Saw 22 house sales with a total value of R196 915 000, achieving an average price of R8 950 682. The highest priced home sold for R26 320 000 at 17 Dennerand Street.
• Stellenbosch Central: Experienced 21 house sales totalling R166 957 500, leading to an average price of R7 950 357. The highest price achieved was R13 500 000 for a property at 25 Van Riebeeck.
• Mostertsdrift: Showed 10 house sales totalling R162 750 000, with an average price of R16 275 000. The most significant sale was R36 000 000 for 7 Thibault Street.
• Die Boord: Registered 19 house sales with a combined value of R160 035 000, averaging R8 422 895 per sale. The top sale was R38 275 000 for 9 Bergbosch Street.
• Simonswyk: Recorded 12 house sales with a total value of R145 785 000, resulting in an average price of R12 148 750. The highest priced home sold for R93 000 000 at 6 Cluver Street.
• Welgevonden: Saw 51 house sales totalling R146 303 000, achieving an average price of R2 868 686. The highest priced home sold for R4 620 000 at 10 Fynbos Street.
• Koelenhof: Experienced 27 house sales with a total value of R104 550 000, leading to an average price of R3 872 222. The highest price achieved was R12 000 000 for a property at Erf 478 Nooitgedacht Manor.
• Longlands: Registered 16 house sales with a total value of R82 520 648, resulting in an average price of R5 157 541. The highest priced home sold for R13 750 000 at Erf 83 Longlands Country Estate.
• Uniepark: Saw 10 house sales totalling R76 935 000, achieving an average price of R7 693 500. The highest priced home sold for R12 500 000 at 6 Hof Street.
• Jamestown: Experienced 21 house sales with a combined value of R76 008 000, averaging R3 619 429 per sale. The top sale was R6 300 000 for Erf 894 Aan De Weber Estate.
• Universiteitsoord: Recorded 5 house sales with a total value of R73 500 000, resulting in a high average price of R14 700 000. The highest priced home sold for R17 750 000 at 92 Merriman Street.
• Krigeville: Registered 5 house sales with a total value of R54 400 000, leading to a very high average price of R10 880 000. The highest price achieved was R21 600 000 for 12 Koch Street.
• Kylermore: Saw 22 house sales totalling R49 808 500, achieving an average price of R2 264 023. The highest priced home sold for R5 275 000 at 5 Mountainview Street.
• La Colline: Experienced 15 house sales with a combined value of R32 200 412, averaging R2 146 694 per sale. The top sale was R3 200 000 for 23 Irene Park Street.
• Brandwacht: Registered 4 house sales with a total value of R30 225 000, resulting in a high average price of R7 556 250. The highest priced home sold for R11 750 000 at 99 Brandwacht Street.
• Welgelegen: Saw 2 house sales totalling R25 100 000, achieving a very high average price of R12 550 000. The highest priced home sold for R19 000 000 at 16 Welgevallen Street.
• Idasvallei: Experienced 16 house sales with a combined value of R23 267 844, averaging R1 454 240 per sale. The top sale was R2 900 000 for 36 Erasmus Smit.
• Johannesdal: Recorded 12 house sales with a total value of R19 888 000, resulting in an average price of R1 657 333. The highest priced home sold for R3 648 000 at Erf 116 Morgenster Street.
• Arbeidslus: Registered 11 house sales with a total value of R18 070 000, leading to an average price of R1 642 727. The highest price achieved was R6 100 000 for 43 La Roche.
• Raithby: Saw 4 house sales totalling R16 495 000, achieving an average price of R4 123 750. The highest priced home sold for R6 850 000 at Erf 392 Winelands Village.
• Cloetesville: Experienced 18 house sales with a combined value of R12 096 000, averaging a lower price of R672 000 per sale. The top sale was R1 925 000 for 16 Hine Street.
• Lynedoch: Registered 3 house sales with a total value of R8 695 000, resulting in a high average price of R2 898 333. The highest priced home sold for R3 100 000 at Erf 64 Lyndoch.
• Skuilplaats: Saw 2 house sales totalling R8 570 000, achieving a high average price of R4 285 000. The highest priced home sold for R4 720 000 at 10 Old Oak Street.
• Kleingeluk: Experienced 3 house sales with a combined value of R7 995 000, averaging R2 665 000 per sale. The top sale was R3 595 000 for 1 Pinotage Street.
• Klapmuts: Registered 10 house sales with a total value of R7 824 000, leading to a lower average price of R782 400. The highest price achieved was R850 000 for Erf 3543 Pinotage Villas.
• Bennetsville: Saw 4 house sales totalling R7 176 000, achieving an average price of R1 794 000. The highest priced home sold for R2 335 000 at 65 Rozenmeer State.
• Karindal: Recorded only 1 house sale with a total value of R6 500 000, which is also the average and highest price. The property was located at 11 Zwaanswyk Street.
• Pappergaai: Registered only 1 house sale with a total value of R3 400 000, which is also the average and highest price. The property was located at 3 Hulett Street.
• Tennantville: Saw 2 house sales totalling R2 985 000, achieving an average price of R1 492 500. The highest priced home sold for R2 400 000 at 28 Lakay Street.
• Pniel: Experienced 2 house sales with a combined value of R2 050 000, averaging R1 025 000 per sale. The top sale was R1 550 000 for 2 Middel Street.
• Lindida: Registered 2 house sales with a total value of R1 720 000, leading to an average price of R860 000. The highest price achieved was R1 200 000 for 40 Lindida Street.
• Khayamandi: Saw 19 house sales totalling R3 445 480, resulting in an average price of R181 341. The highest priced home sold for R580 000 at Erf 3047 Watergang Street.
• Lanquedoc: Experienced 16 house sales with a combined value of R645 000, resulting in a low average price of R215 000 per sale.
• Weltevrede Park: Registered 4 house sales with a total value of R464 500, leading to a very low average price of R116 125. The highest price achieved was R250 000 for Erf 2685 Corn Flower Street.

2.2         Sectional Title – Apartments:

According to CMAinfo, during 2024 the following sectional title sales were realized within specific Stellenbosch suburbs, ordering the suburbs from the highest to the lowest in total Rand value of sales:

• Stellenbosch Central: Recorded the highest total sales value with 427 sectional title sales amounting to R1 334 230 685. The average price was R3 124 662. The highest priced unit sold for R72 500 000 at Unit 1 Soete Inval.
• Universiteitsoord: Experienced 45 sectional title sales totalling R89 668 500, leading to an average price of R1 992 633. The highest price achieved was R4 059 000 for Unit 312 Archimedes.
• Stellenbosch Rural: Saw 61 sectional title sales totalling R77 565 388, achieving an average price of R1 271 564. The highest priced unit sold for R4 350 000 at Unit 5202 The Residence.
• La Colline: Followed with 50 sectional title sales totalling R57 492 800, resulting in an average price of R1 149 856. The most expensive unit fetched R1 950 000 at Unit 89 Die Rand.
• Welgevonden: Registered 18 sectional title sales totalling R26 625 000, resulting in a lower average price of R1 479 167. The highest priced unit sold for R1 950 000 at Unit 13 Pearl's Place.
• De Zalze: Registered 5 sectional title sales totalling R26 400 000, resulting in a high average price of R5 280 000. The highest priced unit sold for R9 750 000 at Unit 27 Winelands Golf Lodges.
• Koelenhof: Saw 9 sectional title sales totalling R19 915 000, achieving an average price of R2 212 778. The highest priced unit sold for R3 100 000 at Unit 55 Village Square1.
• Simonswyk: Experienced 5 sectional title sales totalling R13 940 500, leading to a high average price of R2 788 100. The highest priced unit sold for R3 800 000 at Unit 406 Deo Gloria.
• Mostertsdrift: Registered 3 sectional title sales totalling R9 000 000, resulting in a high average price of R3 000 000. The highest priced unit sold for R3 900 000 at Unit 23 Langverwag.
• Idasvallei: Saw 8 sectional title sales totalling R6 660 000, achieving an average price of R832 500. The highest priced unit sold for R1 200 000 at Unit 6 Rusten House.
• Dalsig: Experienced 2 sectional title sales totalling R6 049 000, leading to a high average price of R3 024 500. The highest priced unit sold for R3 449 000 at Unit 13 Dalsighof.
• Skuilplaats: Registered 2 sectional title sales totalling R4 950 000, resulting in a high average price of R2 475 000. The highest priced unit sold for R2 700 000 at Unit 17 Stellenbosch 101.
• Krigeville: Saw 1 sectional title sale totalling R3 500 000, which is also the average and highest price. The unit was located at Unit 5 Tuinsig, 3 Suidwal Street.
• Onder Papegaaiberg: Experienced 1 sectional title sale totalling R3 300 000, which is also the average and highest price. The unit was located at Unit 12 Cabernet.
• Die Boord: Registered 1 sectional title sale totalling R3 100 000, which is also the average and highest price. The unit was located at Unit 4 Le Francois.
• Kylermore: Saw 1 sectional title sale totalling R1 675 000, which is also the average and highest price. The unit was located at Unit 7 The Barracks.
• Cloetesville: Experienced 3 sectional title sales totalling R1 425 000, leading to a lower average price of R475 000. The highest priced unit sold for R480 000 at Unit 29 Mulberry Place.

2.3         Vacant Land:

• Longlands: Recorded the highest total sales value with 38 vacant land sales amounting to R68 025 000. The average price was R1 790 132. The highest priced plot sold for R2 750 000 at Erf 602 Longlands.
• Koelenhof: Followed with 8 vacant land sales totalling R17 140 000, resulting in an average price of R2 142 500. The most expensive plot fetched R4 600 000 at Erf 694 Koelpark, Simonsberg Close.
• Arbeidslus: Saw 6 vacant land sales totalling R14 230 000, achieving an average price of R2 371 667. The highest priced plot sold for R6 200 000 at 35 La Roche.
• Stellenbosch Rural: Experienced 6 vacant land sales totalling R13 075 000, leading to an average price of R2 179 167. The highest price achieved was R4 950 000 for Erf 129 Koelenbosch Street.
• Welgevonden: Registered 4 vacant land sales totalling R7 257 500, resulting in an average price of R1 814 375. The highest priced plot sold for R3 900 000 at Erf 16642 Gevonden Estate.
• Bennetsville: Saw 7 vacant land sales totalling R6 047 500, achieving an average price of R863 929. The highest priced plot sold for R1 200 000 at Erf 27 Klapmuts-Noord Street.
• Jamestown: Experienced 5 vacant land sales totalling R5 410 000, leading to an average price of R1 082 000. The highest priced plot sold for R1 860 000 at 31 Tioga Street.
• Paradyskloof: Registered 1 vacant land sale totalling R5 110 000, which is also the average and highest price. The plot was located at Erf 17579 Kings View Estate.
• Raithby: Saw 3 vacant land sales totalling R4 950 000, achieving an average price of R1 650 000. The highest priced plot sold for R1 700 000 at Erf 438 The Hamlet.
• Techno Park: Experienced 1 vacant land sale totalling R3 900 000, which is also the average and highest price. The plot size was 1000 sqm.
• Johannesdal: Registered 1 vacant land sale totalling R1 800 000, which is also the average and highest price. The plot size was 551 sqm.
• Pniel: Saw 2 vacant land sales totalling R1 190 000, achieving an average price of R595 000. The highest priced plot sold for R800 000 at 19 Pine Street.
• Klapmuts: Experienced 1 vacant land sale totalling R750 000, which is also the average and highest price. The plot size was 147 sqm. 

This report highlights the continued strength and growth within the Stellenbosch residential property market in 2024, driven by increases in both the number of sales and the overall Rand value. While the own title market saw a decrease in the number of transactions, the sectional title and vacant land sectors experienced positive growth, contributing to the overall robust performance of the Stellenbosch property landscape.