Wednesday, March 06, 2013

They say the stats don't lie...


RP Data released their Property Market Summary on the 3rd  March and here is the bottom line for Adelaide…

Home value change:  year to date -0.3%
Annual change:   -0.7%
Median Price:  Houses $390,000, Units $310,000
Average Time on Market and Vendor Discount:
Houses 84 days -7.5%, Units 95 days -7.2% discount
Auction Clearance:  40.4%
Properties on the market:  2,518 new listings -4.6% on last year and total listings 11,168 -0.2% over 12 months.

The picture painted by these statistics for Adelaide isn't exactly glowing. However personally, Toop&Toop have seen a continued strengthening of the market, and we think that right now, the wheel is turning.

We have anecdotal evidence that proposed sales have firmed and demand has certainly increased significantly. Properties which were taken off the market this time last year and have been relaunched are being offered with increased numbers at inspections and sales, with demand from multiple buyers again.

We could say that it is all thanks to our world first 3D videos, our smartrealestate.tv online real estate channel, or our new marketing initiatives for clients...but the market has turned, at least for now!

If you had your property on the market last year, don't worry about the stats, we believe the time is right to go again.

Regards,
Anthony Toop


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