The ‘tug of war’ between market forces remains, yet evidently, the surge of momentum strengthens entering the Spring market.
Determination and confidence from buyers is resulting in some outstanding sales with a notable increase in auction success rates and auctions brought forward.
However, sales volumes remain suppressed due to the lack of listings. With 260 North Shore sales in August, it was the second lowest August volumes this century, just ahead of 2008 during the Global Financial Crisis.
The North Shore median price has tracked upward consistently, albeit minimally for the past 5 months to reach $999,000 in August.
Although there has been a reduction in sales, the activity and confidence in the market is undoubtedly increasing entering the Spring market. Days on the market remain relatively consistent at 44, prices creeping upwards, buyer confidence increasing along with Auction success rates all providing reassurance around the current market. The shortage of current listings providing an opportune time to list and stand out with less competition in the market.
If you would like to discuss buying or selling, simply call me and I’ll be happy to help, achieving the best result for you whatever the market!
Selling by Auction is the preferred option for many. This is because your property is generally on the market for a shorter time, and has the highest sales rate. An intensive, high profile auction marketing campaign attracts genuinely interested, cash-in-hand buyers.
Click here to see the Harcourts Cooper and Co auction results for the last few weeks.