January 2025 Real Estate Market Update for 3977
January 2025 Real Estate Market Update for 3977
Happy New Year and welcome to the first market update for 2025! The year has kicked off with some dynamic shifts in the 3977 property market, setting the tone for what could be an eventful year ahead.
A Strong Start Despite Low Listings
As predicted in our previous updates, new property listings were scarce early in the New Year. However, buyer interest and activity levels surged compared to December 2024. This created a golden opportunity for homes that had been sitting on the market with lower interest late last year. Many of these properties sold under multiple-offer conditions, highlighting the strength of buyer demand.
Interestingly, properties launched on December 25th performed exceptionally well. These homes experienced short days on the market, often attracting multiple offers, with some selling before even reaching the open market. This success can be attributed to quality buyers already identified in our database, ready to find their perfect match.
January 2025 by the Numbers
- Total Sales: 88 (down 38% compared to January 2024)
- Median Price: $735,000 (up 7.2% year-on-year)
- Listings: The number of new properties coming to market is on the rise, as expected.
What to Expect Moving Forward
The buzz in the market right now centers around the potential for an interest rate cut announcement on February 18th. If this materializes, we anticipate a significant boost in market activity throughout 2025.
However, this potential shift is a double-edged sword:
- For Buyers: The current stable, slower-paced market may change rapidly. Historically, we’ve seen markets swing dramatically in just one weekend. If you’re in a position to buy, now is the time to act before increased competition drives up prices.
- For Sellers: If you’re planning to sell and buy again, stay focused on your end goal. While increased market activity benefits sellers, it also means more competition when you're buying. Having an experienced agent to guide you through both sides of the process is crucial.
If you’re considering a move and want expert guidance, give me a call. I’d love to discuss how I can support your real estate journey.
Jo Mooney
0407 344 011