Suitable pricing key to sale
The latest Real Estate Institute of WA data shows 45 per cent of sellers are having to discount their property to sell and the average amount by which they’re discounting is almost 7 per cent.
If you’re selling or considering selling, you need to adapt to the current market conditions.
Discounting your property can often mean it takes longer to sell.
Here are some tips: on the market for an extended period is because it’s over-priced.
If you’re struggling to sell and not willing to compromise on price, consider selling your property via auction.
Auctions are gaining in popularity in WA and are a considerably faster way to sell, taking an average of just 28 days.
While listing numbers are showing some stability in the Perth market, stock levels are well above the long-term average.
Selling via auction can help your property stand out from the competition and separate genuine buyers from those just browsing.
With plenty on offer for buyers, you’ll need to take a little more care and effort when it comes to presenting your property.
While you don’t need to do a full renovation, making some cosmetic improvements to the property, including the garden and any fencing, can help.
If you are buying and selling simultaneously under similar market conditions, the state of the market is almost irrelevant.
While you might not sell for a price you want, you’ll also be buying in a market that favours buyers with plenty of choice and competitive prices.
When you’ve made the decision to sell, do your research and find out how the market is performing in your local area.
Speak to REIWA agents as they’ll be best placed to give you an idea of what’s going on in and around your area.
You can also access the latest market data and suburb profiles on reiwa.com.
There are buyers out there and we know if your property is priced correctly from the start, it will be snapped up by those eager to buy their first home, trade up, or downsize.