Market Update - 7 September 2023

Spring has Sprung! What an exciting week we’re having after the launch of 6 new listings last week! Buyers were out in droves on the weekend and one of our new Annandale listings at 28B Susan Lane, sold last night after just 5 days on the market!

There were 1105 auctions scheduled in Sydney last week, making it the second highest number of auctions since May 2022 and the clearance rate was 53.6%, which is about average for the past 8 weeks.

Locally, across the 2037, 2038, 2040, 2050, 2048, 2049 postcodes, there were 36 auctions scheduled and the overall clearance rate was 75%, with 60% selling prior and on our home turf, I’m excited to say that both Annandale and Lilyfield had 100% clearance rate from 12 auctions across the two suburbs.

As the market continues to improve the Inner West is now showing the lowest number of properties on the market in the dreaded 180+ days category since April 2022 and given the high percentage of properties being snapped up before auction, this positive trend is expected to continue.

If you are contemplating selling this year, the deadline dates are:

• To sell and settle before Christmas you’ll need photography etc done by September 19.
• To sell before Christmas and settle in 2024 you’ll need photography etc done by October 23.

Some kind words from a Vendor:

We had the pleasure of having Simon sell our terrace home in Annandale recently. We would thoroughly recommend Simon to anyone looking to sell or buy in the area. His knowledge and professionalism were second to none. In a difficult market, Simon made the whole process seamless and painless. We commend his attention to detail, planning and marketing.