Market Update - 7 July 2023

From 829 auctions (5% less than the previous week) scheduled in Sydney last week the auction clearance rate (SQM Research) was 52.8%, a three-month low.

Locally, across the 2037, 2038, 2040, 2050, 2048, 2049 postcodes, there were only 15 auctions scheduled and the overall clearance rate was 73%, with a 64% selling prior to auction, showing once again a desire from vendors to secure a buyer to ensure their properties are sold.

Behind the scenes there’s a lot more activity than you’d imagine with many properties changing hands off-market. Last week we were successful in helping two Annandale clients secure great sale prices for their homes, one of which was on the market for just two days.

Some kind words from a very happy vendor!

When it comes to selling your home choosing an agent is the most important decision you’ll make. I interviewed 3 agents before making my decision. I was so happy with my choice. In this tuff market you need someone who is a great negotiator, who you can trust. I got an amazing marketing campaign and the best personal service from such a great team. You feel like family. We got the price we wanted and although I never want to do this again, I couldn’t recommend the team at Pilcher Residential more.