The last few years of this ‘boom market’ have displayed for us, a change in the traditional selling market. This has forced us all to adjust from a selling and buying perspective including, what time to sell and buy.
What we have seen recently has been a change in seasons for selling, typically Spring or Summer but now Autumn and even Winter have been strong in our peak selling periods, especially on the Upper North Shore.
Auction clearance rates across the Upper North Shore over the weekend, and all across Sydney for that matter, were showing strong signs arguing the truth of this.
It has become a sexy incentive for sellers to approach the idea of selling ‘off-market’ avoiding increasing marketing costs and intrusive open homes, however, the evidence is overwhelming in opposition to this.
The proportion in price over ‘reserve’ on properties sold at the weekend, especially on the Upper North Shore can be seen around the 20% and 25% mark in some cases being as high as $600,000 (over). [please enquire for examples]
There is certainly a feeling in the air that the market is really starting to gain a bit of momentum, everywhere one looks.
There was originally 880 properties listed for auction at the weekend with 605 reported to have taken place and 514 sold. There were 36 withdrawn for whatever reasons.
The Clearance rate was up at 80% and the median sale price across Sydney was above $1,300,000 which is still very high.
Thomas Merriman.
Thomas Merriman 