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Spring Market Up and Away!

By Tamara Lloyd

There is a real buzz in the air at our office as the real estate market has really kicked into action for spring!Slowly but surely more homes are coming onto the market and buyers can’t get enough!Average open home numbers over the past month have averaged 15 groups – I can’t remember a time where we were consistently averaging this.The numbers can be attributed to 2 main factors – lack of stock on the market and our recent focus on targeted Social Media marketing – both these factors are contributing to greater numbers of buyers at open homes than I’ve ever seen in my 15 years of residential real estate sales.

The REIV statistics for the September Quarter have also just come out and they reflect what we are seeing.For the September Quarter Croydon was up 6.6% on the previous quarter whilst Ringwood was up 13.5%.We are still not back where we were 12 months ago with figures still showing annual figures down 9.4% and 7.8% respectively, but it won’t take too long for us to be back peak prices at the rate things are going.

A recent sale we had in Croydon is a fantastic example of how quickly the market has changed.In April this year we had a property on the market for 6 weeks and had an offer which was at market value at the time of $705,000.The owners decided not to sell as they were retiring and this was not enough for them to make the move.Six months later and we have sold for these vendors for exactly $100,000 more – it has just sold for $805,000!!Even I find the change in market in such a short time quite staggering.

So, if you were holding off over the last 6 months, or you weren’t able to get the price you wanted 6 months ago give us a call and we can give you an update of where your home or investment sits now.We can also show you how to maximize your sale price with our targeted Social Media marketing

Give me or one of my team a call on 9725 7444, or 0408 585 319

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