Are We There Yet⁉️
If you’ve been reading my weekly ramblings that hit your inbox each Thursday you may recall just 4 emails ago the media headlines were reporting that new sales listings were 'surging', and I indicated that this was not the case in 3977, however it was likely that it was headed our way.
Are we there yet?
Not "exactly" but what is our new reality is how quickly property is and isn’t selling.
Yes… properties are still selling!
Yes… SOME are selling quickly!
The majority however are not, and that is just the market we find ourselves in.
In postcode 3977 we have 556 houses & units available for purchase and only 17 reported sales in the past 7 days (with one of those having been on the market for 173 days)
Could/Should we say it’s a buyer’s market?
If we just look at the stats like that, you could be forgiven for saying a blanket yes, but there is still a window of time before I would say it can be declared as fact across all property styles.
So, what types of property are selling quicker?
The highest demand is for turnkey properties with the right number of bedrooms, bathrooms and garages on a mid-sized block that is new-ish, well maintained and beautifully presented.
Ok, so which properties are not selling quickly?
Pretty much the opposite of what is above 😉
Properties that need work to update/repair or are tenanted on a fixed term lease.
While we are certainly still able to find a buyer, these are the properties taking a hit when it comes to sale prices and generally are longer on the market.
Confused much?
Most people are… homeowners and buyers alike, with the mixed messages that are in the headlines.
Case in point: if you’re a watcher of The Block, you may have heard one agent the other night declaring that he thinks they will set 5 street records and that the market is hot… 🧐.
That may well be the case in Hampton, but we also know it is a “reality” show! We have also seen enough of these shows to know that there’s a load of scripting, planning and editing that goes into them.
Those who watched last year also know that The Block houses did not manage a 100% auction clearance rate, so I guess we will have to wait for auction day to find out if that bold, sweeping statement ages well 😳.
So what’s the moral of the story?
People are still moving and still selling their homes. It’s just now a process that needs to be well planned and expertly executed. Home owners need to put in the effort to present for market and shortcuts just won’t cut it unless you’re prepared to compromise on price. Additionally, your agent needs the experience (and quite frankly, the guts) to advise you honestly on what needs to be done to cut through that noise and guide you to the absolute best result available.
Long story short...
If you’ve got somewhere else to you need to be, don’t let the current conditions hold you back.
Get in touch so we can put a plan into action and get you there!