Marsden Park SALES - Feb 2020’🏄
This month in Marsden Park we witnessed a total of 10 unconditional completed home sales,
For the sake of this report I disregard land sales but its worth noting its been a HUGE month in that department with 9+ Private land sales recorded.
(If You have land to sell let me know, People are asking me every day if I have anything)
What we are witnessing is a market super charged with newfound enthusiasm.
The sudden spike is due to 2 main factors we believe :
1. Pent Up Demand - Many buyers chose to sit on the sidelines last year and wait for the news lady to tell them its safe to go out and buy property.
And because so many buyers chose not to participate until things improved the market is now full of buyers who have been saving, Waiting, Watching & are jumping at the opportunity to try get a bargain now that the sentiment of the market has turned very positive.
2. Lack Of Stock - Just as many Buyers chose to sit on the sidelines and wait, So did many sellers who have also been waiting for the media to tell them “OK Markets going up, SELL..” So what this lack of selling confidence has caused is a severe under supply or shortage of property available on the market, Thus driving the prices up due to simple supply & demand principles.
Short term outlook from here : POSITIVE
While its important to understand the two drivers of the current market state listed above will not last forever, The short term out look (March - May) looks very positive for Sellers who can suddenly get an increased amount for their property (while stock remains low & buyer activity remains high) & Also Buyers who have a window of time to pick up under priced property left over from stock priced for last years market (mostly in H&L packages & Spec Homes)
Sydney’s volatile market conditions are not so easy to navigate, And it comes in big waves up & down but the successful are those who learn to read the wave patterns, time the market to suit their strategy & take advantage of it when it is in front of them.
These are unique conditions that don’t come often, If you want to ride call me & get on a board or you will need to catch the next break !
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