Spring 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 Spring Hill home, has dropped to 50 days after been as high as 64 at the start of 2020.
Sub $1m houses are continuing to meet strong demand yet there’s fewer for sale than we’ve seen in some time. It’s now common to see multiple offers. Similarly there’s a broad range of buyers searching Spring Hill apartments, often couples in their 20s to early 30s who work in the CBD and 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.