It was an interesting week. Well, it was always going to be with Christmas and holidays drawing near.
There were still a high number of properties scheduled for Auction across Sydney and a high number withdrawn but that is something we have come to live with as prices soar and days on market start to stretch out.
We have found that with the prices peaking in most areas, buyers are hoping, or waiting, for a bit of a reprieve before they purchase and this is extending our days on market. There is no solid evidence yet to prove that this price drop will happen but we have definitely seen the start of ‘market stabilization’ – in certain areas and aspects.
There were originally 783 Auctions scheduled for the weekend and 429 reported to have taken place with 102 withdrawn and 309 selling.
The Clearance rate was 58% and the median sale price was still high at $1,300,000
Thomas Merriman.
Thomas Merriman 