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 local home, has dropped to 24 days after been as high as 35 during last year.
There are just 33 houses for sale in the two suburbs at the time of writing. And there are almost 3,000 houses in total! 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 Auchenflower and Toowong apartments, often couples in their 20s to early 30s who want to be walking distance to shopping/dining as well as transport 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.