📊 AUGUST 2023 #RealEstateUpdate 📍 Postcode 3977 & 3978
Homeowners in Postcode 3977 & 3978 keep watching to see what happened with house prices in August 2023!
95 homes were sold in postcode 3977 which is down 38% on the same month last year but with the median house price up 5.3% compared to August last year sitting at $748,000.
Year to date we are down 28% in the number of homes sold and overall the median house price is down by 2.6% sitting at $662,140.
Ready for a deeper dive on a hyper local level? Here we go!
Cranbourne you have shifted from balanced last month to a cool market meaning there is currently a slight rise in available properties on the market for sale while the data tells us there’s around 20% less potential buyers.
So, what happened with prices in Cranbourne during August 2023? A total of 19 sales were reported with the highest being 12 Snead Boulevard selling for $1,425,000 while the lowest was 43 Bowen Street at $573,000.
Cranbourne East you’ve moved up from balanced to a warm market meaning that there has been a lift in the number of buyers actively looking in the East.
So, what happened with prices in Cranbourne East during August 2023? A total of 24 sales were reported with the highest being 16 Sancho Drive selling for $1M, while the lowest was 18 Hawkeseye Way selling for $534,000.
Cranbourne West you’re back on track and now into a warm market. That’s an increase in the number of active buyers looking to buy in the West during August which is great!
So, what happened with prices in Cranbourne West during August 2023? A total of 21 sales were reported with the highest being 16 Glasson Way selling for $1,075,000 while the lowest was 22 Wanstead Way at $530,000.
Cranbourne North you’ve dropped back into a neutral market. It’s no cause for alarm it just means the market conditions in August was stable and steady with a slight drop in the number of active buyers.
So, what happened with prices in Cranbourne North during August 2023? A total of 22 sales were reported with the highest being 19 Beacon Drive selling for $1,065,000 while the lowest was 7 Elderberry Alley selling for $580,000.
Cranbourne South you’ve jumped up a peg into a hot market with a rise in the number of active buyers out and about.
So, what happened with prices in Cranbourne South during August 2023? A total of 6 sales were reported with the highest being 600 Cranbourne-Frankston Road selling for $1,850,000 while the lowest was 49 Volunteer Way at $632,000.
Junction Village you’re in a neutral market! You’ve pegged back from hot last month - could this be a result of very little for sale?
So, what happened with prices in Junction Village during August 2023? It was all about land and building with 48 Blue Lily Circuit selling for $370,000 while 7 Opera Walk sold for $600,000.
Botanic Ridge you’ve cooled off a little now sitting in a neutral market! No need for panic though with few homes currently on the market a neutral market will still be OK for selling!
So, what happened with prices in Botanic Ridge during August 2023? A total of 7 sales were reported with the highest being 1 Limeburner Grove selling for $1.6M while the lowest was 2 Riverwood Drive selling for $590,000.
Skye you’re in a warm market meaning that there are more active buyers looking for property in the area than homes available to buy which is great if you’re thinking about making your move.
So, what happened with prices in Skye during August 2023? A total of 7 sales were reported with the highest being 24 Edinburgh Drive selling for $900,000 while the lowest was 63 Darnley Drive selling for $635,000.
Clyde you’ve come back a little, now sitting in a cool market meaning there is currently slightly lower numbers of active buyers searching in the area but that’s OK properties are still selling.
So, what happened with prices in Clyde during August 2023? A total of 17 sales were reported with the highest being 12 Oroya Grove selling for $925,000 while the lowest was 21 Slattery Street at $600,000.
Clyde North you’ve simmered down to a warm market, meaning that the number of active buyers searching has dropped a little from last month and yet the total number of sales was up a little on last month. But full disclosure, it appears there were a number of blocks of land that got titled adding to this number.
So, what happened with prices in Clyde North during August 2023? A total of 48 sales were reported with the highest being a tie with both 11 Sedge Street and 7 Littleshore Crescent selling for $1,450,000 while the lowest was 16 Pleven Rise at $580,000.
There you have it, the market wrap for August 2023. I’m Jo Mooney from Mooney & Co Estate Agents - As always, thank you for watching and if you have any real estate questions at all, we are always only a phone call away.