Transactions and Negotiations……. The team of Carla Fetter and David Sciola at Jellis Craig Armadale, one of Melbourne’s top agents, have adapted to the new conditions rapidly and have sold 16 houses in 31 days, $30 million sales at an average of $1.87 million per home. This agent’s success demonstrates that there are transactions taking place. Congratulations!
And that result was achieved without any real auction activity – its a combination of pre-market, off-market and listings. Five properties that sold never even made it to market according to David Sciola. And the REIV quoted only 75 auctions last weekend versus 554 for the same time last year!
While auctions give you instant real-time market validation, for now, they are “on hold”. The private sale market has taken over and requires insights, information, research, contacts, knowledge and negotiation.
A client asked today “is this the right time to buy?” and our answer was perhaps a little predictable – have you found the right property that meets your needs now? If you have, like we said last week, buy it!
Call or email us if you have any questions or want to discuss how TODAY’s market works.