Market Report – August

Still a very stable market with steady sales and a plateau in the price level.

The median price is the same as two years ago at $428,000 and the average time to sell is sitting at 38 days.

We are finding sales are still consistent and although the numbers of clients at open homes are a little down, the quality of buyers that are coming through is good, with the result that we are receiving offers on most properties. The situation where the prices are not escalating is allowing buyers to have a more relaxed approach to their property search as they are not desperately trying to buy before prices move out of their range. This factor together with the very favorable mortgage rates and the prospect that these rates may remain for some time adds up to a great time to choose a property that ticks all the boxes.

The winter has been relatively mild which has assisted the market and right now is a good time to list to beat the spring surge in listings where competition will become more intense.
Spring blossoms, longer days, more sunshine all means that people’s thoughts turn to lifestyle and the idea of a better, brighter home. If you are a seller get your home sorted and ready to go. If you want some advice on pricing and tips on how to best present your home our staff are happy to be available.