📊 MAY 2023 #MarketUpdate
While we are seeing a bit of an upward bump in the number of homes coming onto the market for sale, we are still a fair way below what we would call normal with only 93 house sales reported for the Month of May in 2023 - 57% down on the same month last year.
The median house price for postcode 3977 in May 2023 is sitting at $715,500 which is down 3.6% compared to the same month last year. Year to date in 2023 we are down 43% in the number of home sales with 581 sales reported thus far.
There is no doubt that buyers and home owners are confused about the market and rightly so! Just last week in a 24 hour time frame we personally received 2 emails - both from CoreLogic - a relied upon source about all things real estate data wise - now the first one was encouraging for sellers - Housing recovery accelerates … Awesome! and then not even 24 hours later the next email lead with Downward property market momentum remains…. I mean Whaattt??
And that is WHY I do this video for you each and every month. The LOCAL info is just so important and not always consistent with the media headlines so let’s jump right into it
Cranbourne - you saw 28 properties sell in May 2023
5 of those prices have not yet been disclosed so as far as we can report:
The lowest sales price was for unit 22 number 224 Monahans Road a 3 bedroom 1 bathroom single garage unit selling for $401,000
The highest was: 12 Hilda Way a dual living 5 bathroom home on just over a quarter acres of land selling for $1,329,500
Cranbourne West - you saw 22 properties sell in May 2023
7 of those prices have not yet been disclosed so as far as we can report:
The lowest sales price was 4 Coral Pea Way a 3 bedroom 2 bathroom double garage townhouse selling for $520,000
The highest was: 18 Asteria Crescent a 4 bedroom 2 bathroom home on 477 square metres of land selling for $940,000
Cranbourne East - you saw 26 properties sell in May 2023
4 of those prices have not yet been disclosed so as far as we can report:
The lowest sales price was for 8A Jolly Street a 3 bedroom 2 bathroom single garage townhouse selling for $505,000
The highest was 5 Butterfield Place a 4 bedroom 2 bathroom home on 576m2 of land selling for $820,000
Cranbourne North - you saw 11 properties sell in May 2023
1 of those prices have not yet been disclosed so as far as we can report:
The lowest sales price was for 4 Coberley Way a 3 bedroom 2 bathroom home on 270m2 of land selling for $590,000
The highest was: 8 Maplewood Court a 4 bedroom 2 bathroom double storey home on 567 m2 of land selling for $1,200,000
Cranbourne South - you saw 3 properties sell in May 2023
The lowest sales price was for 23 Lindamus Crescent a 3 bedroom 2 bathroom home selling for $722,000
The highest was: 24 Lindamus Crescent a 4 bedroom 2 bathroom home selling for $755,000
Clyde - you saw 16 properties sell in May 2023
1 of those prices have not yet been disclosed so as far as we can report:
The lowest sales price was for 5 Bellman Avenue a 3 bedroom 2 bathroom single garage home selling for $567,000
The highest was: 53 Hartleigh Street a 4 bedroom 2 bathroom home on 539m2 of land selling for $1,030,000
Clyde North - you saw 56 properties sell in May 2023
12 of those prices have not yet been disclosed so as far as we can report:
The lowest sales price was for 23 Timble Way a 3 bedroom 2 bathroom double garage home selling for $550,500
The highest was: 11 Pamplona Way a 5 bed 3 bathroom home on 512 square metres of land selling at 1.5 million dollars
Botanic Ridge - you saw 12 properties sell in May 2023
3 of those prices has not yet been disclosed so as far as we can report
The lowest sales price was for 5 Seasons Drive a 4 bedroom 2 bathroom townhouse selling for $590,000
The highest was actually a tie with both 26 Villermont Drive and 28 Green Mist Crescent selling for 1.3 million dollars.
For clarity - 28 Green Mist Crescent is a super spacious 4 bedroom 2 bathroom home on just under half an acre of land while 26 Villermont also a 4 bedroom 2 bathroom home was on a lovely 900sqm block.
Junction Village - You saw 2 sales in May 2023
Both blocks of land!
Firstly 16 Magnolia Road which is a 426m2 block selling for $370,300
While the 810m2 block at 288 Riverwood Drive sold for $550,000
And that’s the wrap for May 2023 - As always thanks so much for watching/reading - don’t forget to share this with friends or family who might be curious too! And of course if you have questions and want to see where the opportunities lie for you in 2023 we’re always happy to have a chat about the local real estate market here in & around Cranbourne - get in touch!