Despite the change in climate, however, it is becoming increasingly clear that the underlying level of buyer demand for real estate in most parts of Melbourne has remained relatively solid.

In fact, there were some figures released this week that confirmed just how resilient the real estate market in 2022 has been.

The market analysts at Domain have published their latest ‘Time on Market’ data, and the figures might surprise a lot of homeowners. These figures confirmed that whilst properties are taking slightly longer to sell than was the case late last year, the average time on market of a property offered for private sale is still markedly shorter than the time properties were taking to sell prior to the pandemic.

Whilst this is a national trend, the figures for Greater Melbourne show that the average time on market for properties offered for private sale in August this year was 51 days. This compares with an average of more than 70 days back in the first three months of 2020.

Numbers like these provide yet another reason for anyone considering selling this Spring to make their plans with confidence, as do our recent sales results in the City of Hume.

Of course, now that the AFL Grand Final is behind us, the property market in our area is positioned for a relatively uninterrupted run through to December. So if you’re interested in finding out how much your own property could achieve in the current market, feel free to give us a call this week at Barry Plant Gladstone Park on 9330 1088.

Regards,

Nick Pugliese - Sales Manager

and Bill Karp - Director

Barry Plant Real Estate

Gladstone Park