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Recent Activity
This Spring and Summer stock levels available in generally lower. Statistics indicate that the available properties on the market are down. Primarily due to the properties actually publically listed versus off market. The off market listed properties volume is presently high.
August September October November
2022 45 38 35 35
2023 52 41 12
Why?
A lot of indecision has caused a “gridlock” effect which is holding back many sellers. Although there are often more than ample prospective buyers in the market for such desirable suburbs, the over fear is going on the market and not being able to secure another property.
27% of the market are down sizers. This dempgraphic typically have little or no mortgage and are selling for higher values, and buying at lower levels bank free. Equally, they hold some of the nicest and most established homes.
On balance, there are many younger families looking to up size to the family home and yard. Essentially, the market needs to join these two demographics together.
Selling in such a time – there are clear advantages – little or no competition, this would be the perfect sales time. It would only take between 5-10 new properties to come to market to ignite activity. Is this yours?
Underlying Trend…
Watching the market monitor is not the same as watching a listed share trade on the stock market. it appears the science and strategies in place for selling can be either extremely successful or the reverse – poorly executed.
There are currently 9 houses on the market in the immediate area that have not converted to sale due to either:
* Poor pricing – over priced
* Wrong demographic target marketing
What is popular at present?
In the upper end, the finsihed “turnkey” home is doing well. Typically a renovated home with all the tick boxes and or pool. The fact is that around $4m-$6m is strong because building costs are still inflated but slowly on their way down and back to reality.
Recent House Sales are key examples of this;
* 47 Wyuna Avenue, Freshwater Sold $5,300,000
* 13 Robert St, Freshwater Sold $5,950,000
* 44A Brighton St, Freshwater Sold $4,450,000
* 6 Adina Rd, Curl Curl Sold $6,663,000
* 1 Sterland Avenue, North Manly Sold $4,200,000
Common features of all these were, no water views, 4 to 5 bedrooms, more than one living area, modern to almost new and a pool.
Apartment Sales of note:
* 9/18 Marmora St, Freshwater Sold $4,950,000
* 17/18 Marmora St, Freshwater Sold $4,360,000
* 104/11 Lawrence St, Freshwater Sold $2,850,000
* 2/63 crown Rd, Queenscliff Sold $2,320,000
Common features of the units; modern, lift access or ground floor, secure underground parking, popular location and recognised good building.
Time to Sell – Yes
There are still 9 perfectly available selling weeks available left in the year before shutdown and Christmas. One should always consider the potential of a longer settlement, and these are negotiable items when offers are made.
The RBA is effectively waiting for the release of two figures; unemployment and CPI which are due on Oct 19 & Oct 25th before considering the November cash rate direction.
Latest Median Values October 2023 – Source Core Logic
Houses Units
Freshwater $3,482,212 $1,127, 568
Curl Curl $3,804,803 $1,404, 443
Queenscliff $3,584,996 $1,221,390
North Manly $3,226,922 $1,061,295
North Curl Curl $3,309,360 $1,266,660
Manly $4,301,014 $1,788,839
Dee Why $2,643,184 $ 959,503
SOLD Wyadra Avenue, FRESHWATER
Overall, our experience with James Smyth and Smyth Estate Agents was exceptional.
If you’re searching for a real estate agent who is honest, possesses integrity, and consistently goes above and beyond for their clients, James is the perfect choice. We couldn’t be happier with the outcome of our sale, and we are grateful for James’ dedication and professionalism throughout the entire process.
The speed at which James sold our property was truly remarkable, and it is a testament to his excellent negotiation skills and strategic marketing approach. He leveraged his extensive network and conducted a highly effective off-market campaign that attracted qualified buyers and resulted in a successful sale.
One aspect we truly appreciated was James’ willingness to provide advice and feedback regarding our sale. He took the time to understand our goals and priorities, offering valuable insights that helped us make informed decisions. We always felt supported and confident in James’ recommendations.
We have known James for several years and from the moment we engaged James as our agent, it was evident that he possesses a strong sense of honesty and integrity. Throughout the entire process, James consistently demonstrated professionalism and a deep understanding of the real estate market. His expertise and knowledge of the local area were invaluable in guiding us through the selling process.
We would highly recommend James Smyth from Smyth Estate Agents for anyone looking to sell their property. James recently sold our property in Freshwater within a remarkable six-day off-market campaign, exceeding our expectations in every way.Sold within 6 Days!!
I guess it was so long ago, but just recently my youngest daughter raced into ask me about ‘The Block’. She watches it every time it’s on, and asked me if I was ever on it?
She was not thought of at this time in 2004, and I had never talked about it, but answered yes. She was in absolute shock and surprise, and couldn’t wait to tell her friends. She had found it on youtube feed and had watched before the interrogation with me.
Well here you go, a blast from the past…
What’s intriguing is that I still can be seen at every auction we hold – working our buyers, and just the simple quiet and confident words which produce another bid!
I did achieve the highest auction price out of 4 auctioned. No more TV appearances – too stressful.
Enjoy!
