Weekly market Pulse - 14th March 2018
There is plenty going on in the property market in the Bundaberg Region. Only two more weekends before the Easter Break where many of the locals leave town for holidays or are tied up with family coming for a visit which really does slow the buying and selling down for a bit over a week. The good news though is February is over, typically the slowest month for sales in the calendar year and we are starting to see the under offer signs go up again.
The one discussion topic we seem to be asked about on a regular basis right now is whether it is a buyer or a sellers market. Let me tell you there is less urgency on the market at present and the buyers are very selective in the properties they look at and less willing to compromise on their needs and wants. There is an increased number of buyers out there willing to offer sellers $10-20k less than the advertised price because they believe the property is better value below the asking price and some sellers are recognizing that and moving and meeting the market. This typically signifies a buyers market however there are still some great prices being achieved at present, and average days on the market with us are well below average so we are calling it as stable for now.
If you do have a property on the market you need to know what’s going on. You either have a property that’s well priced and engaging the market or you have one of these property’s that is a little bit overpriced and you are making other properties look like good value. You need to make sure you get that right. If you need to look at where your property is positioned on the market, make sure you do it sooner rather than later or you may achieve a lower price than possible by sheer number of days on the market.
We have some great homes open for inspection over the weekend, I look forward to seeing you at one of them.