Real Estate

Less sales keeping price up so it’s ideal time to list

HEADING into the traditional peak Spring selling season, and while all the signs are there that the property market is gaining momentum, overall sales for 2020 are down and this is keeping the market price up.

If you’re looking at achieving an above average market price for your property, particularly if it’s a unique or unusual property in a good location, then now is the time to make a move.
Buyers are looking for everything from renovators to a home they can move straight into that needs nothing done. In the current market, we’re also seeing properties not even making it to market or auction and often selling prior.
Numbers through open houses are high too. It’s that fear of missing out because of reduced stock and a larger pool of potential buyers, many of whom are out there looking for the same thing.
Of course, it’s almost impossible to predict what’s going to happen in the next six months.
Odds are more people are going to decide to sell, perhaps in anticipation of another lockdown, or simply because they need to change their current living arrangements to meet the demands of both living and working from home. Everyone has their own reasons for selling, and there will always be property available, and it’s our job to bring the two together.
Looking at Sydney auctions for August 15, the preliminary clearance rate was 66 per cent compared to 78 per cent for the same period last year.
There was a total of 523 auctions, down from 580 the previous week, but better when compared to just 375 auctions for the same week in 2019. You need to allow for properties that sold privately as well, and this certainly impacts on the number of properties going to auction.
We’ll certainly be keeping an eye on what’s happening in our area during the coming weeks so that we can best advise you on the right steps to achieve a good result.
Our sales and property management teams are available to discuss your needs at any time, so reach out and we’ll do what we can to make it happen.