West End 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 West End home, has dropped to 33 days after been as high as 74 during last year.
There are just 10 houses for sale in total at the time of writing. Yes ten, in a suburb of 1,535 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 West End apartments, often couples in their 20s to early 30s who want to be walking distance to dining/bars 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.