We’re bringing the final week of May to a close with the exchange of two properties this week.
Prior to its sales campaign launching and before professional styling, the potential of 334/23 Savona Drive was quickly recognised by a buyer we’d been working with, resulting in another swift off market exchange. This brings our off market sales this year to 23 so far, constituting 39% of our total sales.
We’ve recently observed some owners willing to revisit their pricing expectations and realign them with the current market. These price adjustments on some of our properties for sale have represented great value for buyers, attracting a wider pool of competition, and resulting in favourable outcomes for both buyers and sellers.
Interestingly, we’ve also noted a 37% reduction in new listings within Wentworth Point over May as the number of sales proportionate to new listings has highlighted the consistency in buyer demand. May has seen 32 new listings with 28 sold in contrast to April's 51 new listings and 36 sold.
If the number of new listings continues to slow and current levels of demand remain consistent, we can anticipate that there will be less choice for buyers, likely to generate further competition for the properties that remain available.
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