Current Market Conditions - June/July Update
At this time of year, people may think the real estate market has gone into sleep-mode, but in fact even though the cooler weather is here the market is still quite active.
We are currently seeing the majority of sales activity in Port Stephens concentrated in the $200,000 - $600,000 price range.
This includes enquiries for land, units, duplexes and houses. We are also observing an increase in enquiries from First Home Buyers as the incentives for existing homes will cease from 1st October this year.
An example of such activity in this price range is clearly displayed with a home in Anna Bay which was just listed for $369,000. It attracted strong interest from several buyers with a sale being negotiated within 3 weeks of it being put on the market.
As interest rates are trending on the decline, this is actually an opportune time for would-be home buyers and investors to make their move.