What’s happening in the Market at the Moment?

It’s a question I get asked on a regular basis and although I can usually give a short answer, this is a very complicated question, and by looking at only certain aspects of what is actually going on and not the whole picture may result in a false answer.

So I have decided to have a look at what I believe is important in the overall market place and rate how each facet is going and come up with an overall rating.

In short my answer to the question would be that the current market rating is an 8 out of 10. It is a very good market.

Things that need to be looked at and rated between 1 (poor) to 10 (excellent) are: –

Current Ratings

The Number of buyers in the market place at present?

9

Their overall confidence?

7

Their ability to purchase, or do they need to sell?

8

The number of listings currently on the market?

8

The number of new listings coming on soon?

8

The balance of listings to buyers?

9

New listings selling times?

9

Old listings selling times?

5

Are selling prices reaching agents advice?

9

Are selling prices rising or falling?

6

 

As I stated earlier I believe we are in a very good market. There are still a few listings coming onto the market that are not selling for one reason or another, but on the other hand some are selling before even being advertised.

Land has all but dried up in our area and this has certainly helped the house market.

Our market is driven by how other markets are performing, particularly the Northside of Brisbane, and at the present much of this market is going well.

Last week I sold 5 properties, which is very good for our area, and with a large number of buyers currently in the market, now is as good a time to sell as there has been for many years.

I hope this information has helped answer the question of how the market it going. Feel free to call me anytime you would like to discuss any real estate matters.

I intend to write this blog on a more regular basis now that I have regular the activity happening in my new office.

Cheers

Michael Flanigan