Thursday, April 28, 2011

Illawarra Real Estate. Time to buy?

There has been a lot of conflicting media reports on real estate over the last couple of months. now the time to buy in the Illawarra?
Most of the negative sentiment has focused on statistics supplied for the major capital cities (and some standout slow performers like Noosa and SE Queensland).
Our team work at the 'coalface' every day. This means they see trends ahead of the formal stats and they are telling me Wollongong is NOT experiencing the same negativity.
We have secured 11 sales in a little over a month. Median Days on Market (an indication of demand) is 38 - down from 70 for the year on our figures.
The Median selling price is 95% of the original list price and 97.5% of the 'For Sale' price at sale time.
Numbers, numbers, numbers...even those listed above can be confusing. However, pulling them apart shows continuing demand for our region.
And...have you noticed how many sale boards have SOLD on them?
So...Yes - now is the time to buy!

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