Market Update March 2017
Grant sits down to discuss the Bathurst market for March
So - what a month!
Raine & Horne took 12 properties to auction, 4 selling before auction, 4 selling on the night and two having offer and acceptance within a week of the auction date. This was a sensational result especially for our CBD properties including 247 Rankin St which had in excess of 130 inspections in the 4 week campaign, and huge traffic online. This all resulted in 5 registered bidders on the night and an amazing result selling for 790K.
Sales like this are a real reflection of the stock that the market is demanding, older style CBD homes on large blocks. There are multiple buyers out there looking for it, and we want more.
The results didn’t stop there with the office exchanging 28 properties for the month ranging from 90,000 right up to 1.3 mil, which is a sure sign that the market is hot and there has never been a better time to sell.
A lack of stock in the market is certainly pushing those prices up, as well as the interest rates staying stable for the last 12 months - it is really putting confidence back into the real estate market.
Also a serious lack of residential land for sale is helping those newer build homes sell for a great price in a very quick time frame.
It’s the perfect time to call and have a chat about your home. As always get in touch if you want more information.
See you next time.