Market Snapshot – 2014 v 2013 ( 25/11/2014 )

27.5%.

According to REIWA that’s how many more homes are for sale right now versus the same time last year.

This past week, 600 new listings hit the Perth metro market. The week before that it was around 500. In the past 30 days the amount of homes for sale in the metro area has increased by 15-20% as home owners try to secure contracts prior to Christmas.

This increased competition ( as it is to home owners ) or greater range of choice ( as it is to buyers ) has seen buyers muster the confidence to make less than stunning offers. The fact that 800 properties actually sold in Perth last week shows that some sellers are conceding, more for the sake of convenience than being thrilled by offer prices.

It’s expected that the listing influx will slow between mid December to mid January as home owners don’t wish to be on the market over Christmas but that listing numbers will rise again as we approach late January.

There is usually a slight surge in stock levels in the lead up to Christmas but past years have not seen the drastic increase 2014 has experienced in the past few weeks.

Right now, presentation and correct pricing are more important than ever.

View REIWA’s most up to date statistics here.

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