This week, while still mid-winter, marks the end of a calm and slow period of real estate with only a handful of auctions and sales taking place over the quiet winter school holiday period and even the weeks preceding.
August, always a great month for above average clearance rates and competitive auction results, will be busier than usual, pointing towards an earlier start to the Spring selling season in 2021.
Selling conditions are strong, stock is still tight and savvy vendors are getting in before the proper Spring rush, which tends to culminate in the greatest number of listings in October and November.
But all that is about to change with Team Fetter/Sciola launching at least 18 auction campaigns over the next six weeks – all quality period homes in Stonnington.
Prices have continued to surprised over recent weeks, albeit on very low volume, and there is no evidence that the market won’t continue this run at least until the end of the year.
There doesn’t seem to be as much panic or FOMO buying as earlier in the year, so buyers needn’t be despondent.
Realistic and motivated buyers with reasonable budgets have been able to secure good properties after a couple of months of looking, which is a positive sign.
Value is hard to come by but it’s still there if you dig deep enough and have a bit of luck.
Keep an eye out for our new listings and off market opportunities over the coming weeks. Things are about to get busy!
Kind regards,
David.
David Sciola 