Good Time To Consider Selling

Here are some thoughts that we found useful to consider selling your property today:

According to REIWA, in the space of 12 months, the Perth residential property market has transformed from being in favour of buyers to being firmly in favour of sellers. With buyers experiencing strong competition with one another, properties are selling faster than they have in years and often at a premium for the seller.

◘ How the market has changed- Earlier this month REIWA revealed the median time to sell a property in Perth in March had dropped to 17 days – the quickest since 2006. This is also down from 43 days in March 2020 – a reduction in median time of 26 days.

◘ A closer look at the data shows 61 per cent of Perth suburbs had a median selling time of 21 days or below in March. When we break that figure down further, we see that 33 per cent of Perth suburbs are experiencing median selling times between seven and 14 days, which is remarkably fast and explains why we have seen CoreLogic’s Perth home value index increase by five per cent this year.

◘ Where are the top performing suburbs?
According to reiwa.com data reveals that the 10 fastest selling Perth suburbs were Leeming Tapping, Kinross, Palmyra, Willagee, Hamilton Hill, Currambine, Clarkson, Kingsley & Scarborough

◘ REIWA.COM data also shows there were 67 suburbs across Perth that recorded an increase in median house sale price during March. The 8 suburbs to record the biggest growth were Cottesloe (+5.4 per cent to $1.95 million), Como (+4.1 per cent to $895,000), Rockingham (+3.8 per cent to $410,000), Lake Coogee (+3.5 per cent $587,500), Wannanup (+3.4 per cent to $530,000), Duncraig (+3.2 per cent to $760,000), Claremont (+2.9 per cent to $1.425 million and Ballajura (+2.5 per cent to $410,000)

Now is the time to sell-There is excellent opportunity for sellers right now to sell their property quickly and at a competitive price.

If you’re thinking about selling, reach out to us here at Force Real Estate for all things real estate via force@forcerealestate.com.au / 9448 4111

Source: reiwa.com.au