| A lot of locals have been calling me recently to discuss the real estate market, more importantly, the local West Pymblemarket. This is no surprise to me as the West Pymble market has been so tightly held over the last 2 to 3 years during the turbulence in the greater Sydney market.
As Auction clearance rates have varied considerably and prices have fluctuated we have kept an eye on the West Pymble market. We have noticed that due to the large amount of buyer interest and the distinct lack of stock on the market, prices have remained quite respectable.
Of course during the big drop over the 2018/19 market we saw almost 15% fall away with a dramatic uptick at the end of 2019, the strongest 3 month gain in Sydney property price history.
During the COVID-19 c raziness all we have seen is lower stock with only 11 recorded sales for 2020 alone in West Pymble. These properties, selling with a number of different agencies, have been at quite respectable levels.
We had one of the most remarkable West Pymble sales to date on Saturday at 31 Gloucester Avenue, which sold for $179,000 above the reserve price and was picked up by multiple news sources due to this.
Domain.com.au News article
Realestate.com.au News article
Nine news national coverage
This campaign started with a price guide of $1,600,000 and ended up with a reserve price of $1,700,000 ultimately selling for $1,879,000 under the hammer to 1 of the 5 registered bidders.
Notably we had over 100 groups of buyers through the home in 3 weeks and 15 or more contracts issued. We attribute some of this success to our successful database marketing and social media presence attached to our advertising.
If you would like to know more about any other West Pymble sales for the year or talk more about your own real estate prospects, please be in touch with either myself or Logan Knight |
Thomas Merriman 