📊 SEPTEMBER 2023 #RealEstateUpdate
Own a property in Cranbourne - East/South/North/West, Clyde, Skye or Carrum Downs? Keep watching to see what happened with house prices in September 2023!
126 homes were sold in postcode 3977 in September 2023 and the median house price is sitting at $748,955.
With interest rates remaining unchanged for 3 straight months, there’s a renewed confidence in buyers of their borrowing capacity, which has seen an increase in buyer activity. This however has been somewhat levelled up with an increase in the supply of homes for sale, which is typical at this time of year, and days on market are pretty much back to what we would consider “normal” averaging out at about 30 days.
Ready for a deeper dive on a hyper local level? Here we go…
Cranbourne you are sitting in 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 still around 20% less potential buyers compared to this time last year.
With average days on market sitting at 35 you’re cutting it fine if you’re looking to be in a new home for Christmas or the new school year, but it can still be done!
So, what happened with prices in Cranbourne during September 2023?
A total of 29 sales were reported and quite a few of those are not disclosing prices so as far as we can report the highest was 8 Prestwick Green selling for $965,000 while the lowest was 7/216 Sladen Street at $386,000.
Cranbourne East you’ve settled back into a neutral market, meaning that there has been a lift in the number of homes for sale while the buyer pool has softened a little.
With average days on market sitting at 32, you’re also cutting it fine if you’re looking to be in a new home for Christmas or the new school year, but again, it can still be done!
So, what happened with prices in Cranbourne East during September 2023?
A total of 24 sales were reported with the highest being 21 Wiltshire Avenue selling for $960,000 while the lowest was 36 Eliburn Drive selling for $500,000.
Cranbourne West you’re staying on track, heading into your second consecutive month in a warm market. That’s an increase in the number of active buyers looking to buy in the West during September which is great!
With average days on market sitting at 28, if you’re looking to be in a new home for Christmas or the new school year it can still be done, but don’t wait too long to get the ball rolling!
So, what happened with prices in Cranbourne West during September 2023?
A total of 26 sales were reported with the highest being 17 Statham View selling for $1,295,000 while the lowest was 7 Mahara Walk at $522,500.
Cranbourne North you’ve settled and remain in a neutral market. It’s no cause for alarm, it just means the market conditions in September were stable and steady.
Average days on market is currently sitting at 36 days, so you’re cutting it fine if you’re looking to be in a new home for Christmas or the new school year, but it can still be done!
So, what happened with prices in Cranbourne North during September 2023?
A total of 21 sales were reported with the highest being 9 Josephine Avenue selling for $932,888 while the lowest was 14B Elizabeth Street selling for $500,000.
Cranbourne South demand has remained high, and you’ve remained a hot market, with a rise in the number of active buyers out and about.
With average days on market sitting at 30 if you’re looking to be in a new home for Christmas or the new school year it can still be done, but don’t wait too long to get the ball rolling!
So, what happened with prices in Cranbourne South during September 2023?
A total of 6 sales were reported with a couple of farms taking out the top spots price wise, but for residential homes the highest was 10 Sonar Street selling for $792,500 while the lowest was 7 Ergano Way at $775,000.
Junction Village you’re in a neutral market for the second consecutive month in a row.
So, what happened with prices in Junction Village during September 2023?
Absolutely nothing! No sales were reported in September 2023.
Botanic Ridge you’ve stabilised, now sitting in a neutral market for the second consecutive month.
No need for panic though with few homes currently on the market, a neutral market will still be okay for selling with average days on market sitting at 40.
So, what happened with prices in Botanic Ridge during September 2023?
A total of 10 sales were reported, with the highest being 10 Espie Court selling for $1,240,000 while the lowest was 19 Berrybank Terrace selling for $550,000.
Skye you’ve settled back into a neutral market, meaning that supply and demand are equal, which isn’t any cause for alarm for either sellinng or buying - it’s just stabilised and steady, however days on market are still low at just 19.
So, what happened with prices in Skye during September 2023?
A total of 6 sales were reported with the highest being 55 Maraline Road selling for $1,600,000 while the lowest was 12 Darnley Drive selling for $540,000.
Carrum Downs you’re in a hot market and interestingly 91% of buyers looking to move into Carrum Downs are from out of the local area. The average number of days on market is currently sitting just under 30 days, so you’re cutting it fine if you’re looking to be in a new home for Christmas or the new school year, but it can still be done!
So, what happened with prices in Carrum Downs during September 2023?
A total of 25 sales were reported with the highest being 11 Driftwood Mews selling for $881,000 while the lowest was 205 Nada Way selling at $430,000.
Clyde you’ve made bit of a comeback, lifting from cool to a neutral market with numbers of active buyers searching in the area balancing out with supply, but that’s OK properties are still selling.
So, what happened with prices in Clyde during September 2023?
A total of 18 sales were reported with the highest being 4 Waterman Drive selling for $1,495,000 while the lowest was 21 Grattan Street at $560,000.
Clyde North you’ve come off the boil just a little and are now in a neutral market, down from warm last month. But don’t panic, all this means is that supply is starting to level out with the available buyer pool. Sales are still happening!
So, what happened with prices in Clyde North during September 2023?
A total of 42 sales were reported with the highest being 11 Tarcoola Rise selling for $1,265,000 while the lowest was 70 Heather Grove at $590,000.
And there you have it! The market wrap for September 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’re always only a phone call away - 0407 344 011.