Everyone is talking about the CHANGE IN THE HOUSING MARKET over the past few months and we’ve certainly seen buyer confidence take a bit of a hit. Though we know that much of this can be attributed to the Royal Commission into banking and the tightening of the lending criteria this has translated into, it is typical to see a softening of the market after the growth surge of 2017/18 and to see the market plateau or correct for a time. Days on market have increased and we’ve all noticed properties taking longer to sell often accompanied by price adjustments. It does feel a bit doom and gloom at the moment but it doesn’t need to be that way.
HOW DO YOU STAND OUT FROM THE CROWD? Buyers are still buying and sellers are still selling – so how do you position your property for success and get an edge in this market place? How do you engage with buyers sitting at their laptop and get them to come to your property? How do you nail your point of difference and create the possibility of someone falling in love with your home? The experience of your agent is vital here! Nothing should be left to chance and luck has very little to do with success. It’s knowing how to navigate your way through a challenging market and establish a connection to your property that’s going to make all the difference so make sure you do your research and get the right agent working for you.
EXPERIENCE THE DIFFERENCE THAT EXPERIENCE MAKES! I’ve been selling properties across our Mornington Peninsula for 15 years and ridden the market swings and turns, peaks and troughs. I’ve learnt a lot over this journey and am well positioned to guide our vendors in a changing market. I can confidently say you’re in good hands with the team at Susan Clavin Real Estate. Of the last 100 homes I have listed, I’ve sold 99 and 9 of those were ‘off market’ sales. I’m pretty proud of those stats! We’re all about getting you sold – you’re not just another listing to us! Please give us a call to see how we can help you and let us show you our formula for success.
According to the latest market report from APM, the above data shows that significantly less properties were sold last year than the previous 2 years – in fact 379 in total for 2018 compared to 546 sales in 2017. Buyers are still looking but they have less homes to choose from so that is definitely keeping our market healthy. The median price is up from $787,500 in 2017 to $830,000 in 2018 with a recorded 5.4% growth for that year. Despite the gloom and negativity of the media, our market place is holding quite well against other areas of Melbourne that have fallen. The frenzy of buyer activity which pushed the prices up has clearly cooled and this is reflected in the sale prices and the perception of a significant price drop. The stats however show that we are still on target for the more realistic growth percentage for our area. Good news for vendors.
If you’d like an update on your suburb or property, SMS us on 0417 141 007 or shoot us an email at firstname.lastname@example.org and we’ll forward you a current market report.