Market Update - 30 June 2023

From 870 auctions (3% less than the previous week) scheduled in Sydney last week the auction clearance rate (SQM Research) was 56.1%, sitting about 4% below the May average.

Locally, across the 2037, 2038, 2040, 2050, 2048, 2049 postcodes, there were 21 auctions scheduled and the overall clearance rate was 67%, with a massive 86% selling prior to auction, showing a strong desire from vendors to secure a buyer to ensure their properties are sold.

Having a look at “days on market” across the inner west, properties languishing on the market for over 180 days are now the lowest in number for 2023 and properties on the market for 90-180 days are the lowest in volume for the past 18 months.

Some kind words from a purchaser/vendor:

Thank you, Simon and the team at Pilcher Residential. Over the last 15 years we have purchased 2 properties through Simon. This week we sold our current home with Pilcher Residential. We can honestly say that working with Simon on each transaction has been painless.....and dare I say enjoyable. How many purchasers/vendors can say that? If you are thinking of selling or buying...do yourself a favour and have a chat with Simon. I guarantee you’ll be glad you did.