Highgate Hill Real Estate Agent’s Winter Market Update
Time to sell shrinks with shortage of listings
The pandemic is having some impact on buyer confidence but our experience is there’s still strong demand for local property. Interestingly the “average days on market”, or time it takes to sell a Highgate Hill home, has dropped to 51 days after been as high as 77 last year.
There are just 10 houses for sale in total at the time of writing out of 1,085 houses in the suburb in total! Sub $1m houses are especially meeting strong demand and it’s now common to see multiple offers and strong price results for well-promoted property. Similarly there’s a broad range of buyers searching Highgate Hill apartments, often couples in their 20s to early 30s who want to be walking distance to their workplace. COVID-19 or not, interest in local real estate continues and when there’s more available for sale the turnover graph will rise.