February Market Wrap – Sunny weather brings warm reception to northern Illawarra real estate. Our predictions for Autumn.
It’s is the last day of summer and the sun is shining, just like the month past.
Higher than average numbers at open homes
We’re happy to say this month saw improved numbers to open homes, not just compared to the typically slower month of January, but also compared to late last year. A positive sign. And we love positive signs.
We’ve beat the December and January average of 5-6 people attending open homes with new listings. February saw 10-15 people viewing many of our new homes, including our 4-bedroom dream home at 11 Elanora Place, Coledale.
4 sold and 3 under contract
Another great sign. Buyers are out in force and spending good money.
New owners will be moving into the Bulli 3-bedroom property at 3 National Avenue, having saw the value of the home enough to spend $810,000.
Three other properties sold this month, including the 3-bedroom house in Wombarra at 126 Morrison Avenue for $965,000 and the 3-bedroom villa at 10/11 Hopeton St, Woonona for $625,000.
Hopeful prediction for Autumn
One theme running through conversations with interested buyers has been we’ve all settled into the new year now with gusto.
We’re back at work. School has gone back. Now people are ready to settle into house hunting to find their new start for the new year.
There is a good mix of buyers to meet the different types of properties. We’re seeing types of buyers from both Sydney and local, including downsizers, first home buyers and families.
The time of year is also good for buying. Many think spring and summer are when properties sell best. That only matters if you have an amazing garden that looks best at that time. Otherwise, people just buy and sell when they’re ready, regardless of the time of year.
Based on all these things, the team here at One Agency Downie-Dennison Pender are expecting the market to continue to turnover with a robust and engaged buyer group.
Also, the Reserve Bank’s most recent announcement saw interest rates kept on hold, a reassuring sign for investors.
As we turn the page toward a new season, do let me know if you think I can help you with that journey.