TIMING THE MARKET? ⏱
The headlines are telling us that listing numbers are on the rise... a “surge” in homes coming to market… umm yep sure… 🙄
In our neck of the woods, if we take out the house & land packages and the land listings and only look at established homes - ones that you can buy and move into straight away, we’re looking at a totally different picture!
In the last 6 days just 51 properties (which is approximately 0.14% of the 37,628 properties in Postcode 3977) have come to the market for sale.
For context in 2021, 8.75% and in 2022 6.229% of homes in the postcode sold. So far in 2023, we are only sitting at 3.55% sold and we only have a few months of the year left to count.
Confirming that not all markets and locations are the same, while we are still sitting with relatively low listing numbers, Thornbury saw the biggest uptick with a 147% jump in listing numbers, compared to the same time last year. Taylors Lakes (127% increase), Coburg North (120% increase), Coburg (119% increase) and Donnybrook (119% increase) also surged.
So is this what’s ahead for us? Possibly, but we are certainly not there yet.
So what does this mean for “would be” home sellers?
If you’re looking to “time the market” consider this your warning bell! 🔔
As a natural result of supply and demand, once supply levels creep up (or leap up), as may well be the case, each home is going to be competing for attention in a relatively stable buyer pool.
With lending still proving challenging for many, we are unlikely to see a huge influx of buyers coming in to the market, so it is going to be even more important when you hit the market, that your property makes an impact on the available buyers. Presentation matters, marketing absolutely matters!!
Every point of difference that you can give your property will count and directly impact the amount of money you will get!
Our exclusive digital marketing strategies that are tailored to each of our client’s properties delivers that point of difference.
Learn how we will make your property a stand out in the competitive market!