March Market Wrap | March marks a record month

The momentum of this quarter has peaked with an explosive March as we experienced our highest performing month on record. 

Reaching a total of 19 sales, the volume, pace, and prices movements we’re observing are reminiscent of the heightened 2017 market, and in some cases even surpassing it. This week we exchanged 312/19 Baywater Drive for an amount that marks the largest price shift for a two bedroom apartment in the Alora building since 2015. Find out exactly how much - and other insights into the local market - in our monthly report here.

This month’s outstanding outcomes have lifted our sales results to a total of 34 properties so far this year. We topped our February results by 11 more sales over the last four weeks, with almost half of our total, 19 exchanges occurring off market. Our active role in the local sales market accounts for 33% (or ⅓) of all sales in the area, and our current median days are sitting at 26, compared to the local average of 38. 

More broadly across Australia this month, property prices have already eclipsed February’s 2.1% rise, increasing 2.6% as at 29 March - a 3.6% gain since the last quarter. 

Sydney figures have moved quickly, rising 3.6% over March and recording the fastest monthly rise in 33 years, surging 0.8% in the last week alone. With steady rises likely to remain in place, we can expect similar patterns of growth to continue in the coming months. 

Be sure to stay informed. Click this link to download our exclusive monthly report for March as we cover the market’s recent movements, where it’s likely heading, and much more.

 

Alexander Chidiac
When it comes to dealing with buyers and sellers in Wentworth Point, Rhodes, Newington and throughout this part of the inner west, Alex enjoys an exceptional reputation earned from over 10 years’ experience in the industry.

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