If you take a look at the attached report which covers all property sales in your neighbourhood since January this year, you will see there have been a total of 29 confirmed sales to date with buyers having spent a whopping R84,750,000 compared to the same period last year which saw 31 sales realising R81,442,000.
When making further comparisons with last year’s data for the same period (not shown in the report) two things strike me most:
- ~ In 2013 the average number of days on market was 66.48 and in 2014 the average so far is only 39.62.
- ~ The difference between asking price and sale price in 2013 was -9.91% and in 2014 it is around -6.18%.
Convincing evidence that we are solidly in a seller’s market! There is not a lot for sale and buyers are in a weaker position to negotiate because choices are limited. As a result what is available sells quickly and much closer to asking price than usual.
To illustrate this further my last sale in Tokai was concluded in late April – it generated 68 buyer enquiries in just two weeks and sold for over the asking price, such is the pent-up demand for houses in the area.
As a proactive and invested agent in your area, and part of a proven local team, I sincerely look forward to assisting you with any property-related matters whenever you may need our services.