Real Estate

Higher auction clearance in time for Spring

HERE at Day and Hodgson, we recently took over a sale that had been in the hands of another agent for over four months.

After letting it rest for a fortnight, we had new photos taken and advertising copy written for a more extensive marketing campaign. We listed the property on a Wednesday morning and by the following Monday, contracts were exchanged.
It was only on the open market with us for five days and we achieved a higher sales price than the previous agent. It shows that with proper marketing and negotiation skills by your agent/agency, that a property will not only sell but can achieve the highest price possible. This proves once again that choosing the right agent is so important.
More good news is that Sydney auction clearance rates remained strong at 73 per cent for the weekend of July 27. This is still the highest rate in about two years (and compared to 47 per cent for the same time in 2018) and certainly an encouraging sign for the coming Spring quarter.
But the change of season doesn’t automatically mean more homes for sale.
Most pundits are predicting there won’t be a sharp increase in the number of properties listed for sale because many people won’t want to sell while prices are still low. Sellers may decide to hold out until the market recovers to a point where prices are closer to where they were prior to the property downturn.
However, as we’ve said before, with fewer properties on the market, buyers are more likely not to let something they like slip through their fingers by holding out for a lower price. If you’re a seller, there’s always a buyer, and it’s just a matter of negotiating and finding the price that’s right for both parties.
We’re always on hand to provide you with advice about the market. If you want to buy or sell, we can start the ball rolling and get you a step closer to your property goals. Simply contact us at Day and Hodgson for a friendly, confidential chat of only to set your mind at ease and take a look at the options available.