Spring Has Sprung

October 15, 2014

 

September 2014 was one of the best months for sales in the Byron Shire since 2006-2007.

There are three types of real estate markets.

Markets with a head wind, markets with no wind and markets with a tail wind

In our part of the world, much of the last 7 years has been either sailing into a head wind, called the aftermath of the global financial crisis or becalmed with no wind and fluky breezes. This meant some months sales were strong and in other months sales were patchy and/or few and far between

September 2014 was neither.

There was a tailwind and for our company it meant $11,000,000 worth of sales right across the Shire.

The average price of property sold by First National was $725,000 and there were a number of sales above $1,000,000.

There were 15 unconditional contracts and the average days on market for these properties were 77 well below the average for our competitors (according to REA).

3 properties were sold successfully at auction and 12 by private treaty.

October has started very strongly with sales being recorded all over the Shire and in many instances there are multiple buyers on properties.

There has not been a better time to sell since 2006.

Cheers

Chris Hanley

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