Some Encouraging News for Home Sellers

Last week, for the first time in months, many more homes were sold than were listed!

REIWA tells us that 953 homes were sold last week.   4 weeks ago that number was just 573.

Last week there were “only” 13,676 homes on the market, compared with almost 15,000 the week before.  While this slight drop in stock levels is great news it’s important to keep in mind that there are still almost 30% more homes on the market right now as compared with this same time last year.

A great way to summarise the state of the market right now is like this;

Homes are still selling. Buyers are still out there. My office, for example, continues to sell as many homes as we always have, month in, month out… The difference is that we are listing more properties in order to sell the same amount.

Buyers have more choice ( a little less choice this week than last week ) and that means that properties which are presented better than average or priced more competitively are seeing more action.

Wayne Heldt

photo-perth-market-snapshot-1-april-2015

In this week’s Perth Market Snapshot, reported sales jumped dramatically because of an increase in activity ahead of Easter and the end of month reporting deadline picking up some lagging sales.

Total reported activity was up by 240 or 34 per cent due to stronger dwelling sales, while there was negligible change in land sales.

Despite the end of quarter surge, aggregate sales data for the 2015 March quarter is down 14 per cent on the 2014 March quarter, with house sales off 12 per cent, multi-residential activity down 16 per cent and land sales off 22 per cent.

The other notable feature this week was the four per cent drop in listings, which are down 600 on last week due to the stronger sales activity and limited new listings being posted ahead of the Easter break, which is the second biggest market downturn across the year after the Christmas break.

Rental listings are continuing to rise, lifting one per cent to pass through the 6,600 mark.

REIWA.