At ABC Business Sales, we're excited to share our November 2024 market update, and the numbers tell a story of a thriving business sales market. Whether you're a buyer, seller, or just keeping an eye on the market, these trends highlight why now is an excellent time to be involved in business ownership.
Buyer Interest Hits New Heights
November saw unprecedented activity, with Signed Confidentiality Agreements reaching an all-time high of 16,366 for the eight months leading to November 24—an impressive 33% increase compared to the same period last year. This surge reflects strong buyer confidence and growing interest in business ownership opportunities.
Steady New Listings
We recorded 521 new business listings for the month, a slight dip of 6% compared to November 2023. However, this aligns with historical averages and doesn't signal a slowdown. Sellers remain active, with opportunities spanning a wide range of industries.
Record-Breaking Business Prices
The average business sale price hit a new peak at $874k, surpassing the previous high of $864k set in December 2022. This milestone marks a strong recovery after 18 months of declining values, demonstrating increasing buyer appetite and confidence in market stability.
Completed Sales on the Rise
Completed business sales grew by 17% year-over-year, signalling a balanced market where buyers and sellers are equally engaged. This uptick is driven by two significant factors:
- Increasing unemployment, which is encouraging more people to consider business ownership as a career alternative.
- New immigrants to New Zealand, who are showing a strong preference for purchasing businesses rather than seeking employment.
What This Means for You
The November data confirms a solid market where demand is growing, and opportunities abound. If you're considering selling, now is an excellent time to capitalise on high demand and record sale prices. For buyers, the market offers diverse opportunities with strong potential for growth.
At ABC Business Sales, we're here to guide you every step of the way. Whether you're ready to list your business or exploring your first ownership opportunity, our team has the expertise to help you succeed.
Contact us today to learn more about the current market or to take the next step in your business journey!