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 South Brisbane apartment, has dropped to 42 days after been as high as 89 during last year.

There are just 2 houses for sale in total at the time of writing. Yes two, in a suburb of 386 houses! Houses in the sub $1m range are especially meeting strong demand. 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 South Brisbane apartments, often couples in their 20s to early 30s who want to be walking distance to dining/bars as well as an easy walk 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.