Tokai Property Snapshot – First quarter 2015 vs. first quarter 2014:
Statistics show that there were 15 freehold sales last year for a total of R43 595 000 (an average selling price of R2 906 333) compared to 7 this year for a total of R23 100 000 (an average of R3 300 000). So whilst the number of sales is down this year the average selling price is up and again illustrates the state of the market at the moment which is favouring sellers all the way.
This is further backed up by the number of days on market; an average of 41 days in 2014 compared to 23 days in 2015. It’s taking about half the time to sell for a higher average price because of the low stock situation.
Buyers are locals, 50% of whom are cash buyers and the rest are bonded. Another interesting snippet is the differential between asking and selling price. In 2014 it was an average of -6.8% with not much change in 2015 at -6.4%.
With the low stock situation we’ve got an interesting ‘bubble’ of higher asking prices in Tokai at the moment. There are currently 17 homes for sale at an average asking price of R4 237 000. People are shaking their heads in disbelief at how the prices have jumped, but will they sell for those prices?
What is your house worth in today’s market? If you are you thinking of selling there could be no better time to do so. Please contact Tokai specialist, Lisa Rowell on 082 844 0800 for an up to date evaluation on your home.
Source:Propstats; “Sold” freehold properties in Tokai and The Hamlets, excluding Zwaanswyk and Lifestyle Estates for the periods 1 Jan – 1 April 2014 and 2015.
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.
The Tokai Neighbourhood Crime Watch and ADT are inviting residents of Tokai and their staff to their workshop aimed at educating you and your staff on how to remain safe in your home at all times and how to keep your property secure.
This is an excellent opportunity to make sure that your staff know the basics about home security and thus can prevent criminals from trying to gain entry into your property.
Date: 19 June 2014
Time: 10am – 12pm
Address: Christ Church, corner of Parish and Constantia Main Road, Constantia
A Xhosa speaking interpreter will also be there to assist.
Should you wish to attend the event, email firstname.lastname@example.org with the number of people attending from your home for seating purposes.
The LifeMatters Foundation is partnering with the Blue Route Tokai Spur to make a difference on the 3 June 2014, from 18:00 – 21:00. A fun event providing the opportunity to raise funds and create awareness around literacy, numeracy and life skills programs offered in Retreat, Steenberg and Westlake Primary Schools.
How it works: Bring your friends and family to Spur and enjoy a meal. The difference will be that when you pay for your meal between 18:00 and 21:00, the LifeMatters Foundation will receive 10% of the total profits made over that time period.
Support is needed so spread the word and help fill the Silver Mountain Spur!
The inaugural Freedom Ride Cape Town bicycle event will take place at Pollsmoor Prison in Tokai and proceed to the Parade / City hall to honor Nelson Mandela and to demonstrate how bicycles can unite and connect communities. Participants will gather at 07:30 at the entrance to the prison and after a short opening ceremony the race will start at 08:00. For more information email Andrew Wheeldon
KAPS (Karoo Animal Protection Society) is an organization providing a mobile welfare service for animals in deprived areas of the Little Karoo. A monthly garage sale of donated goods on behalf of KAPS will be held on Saturday the 31st of May, from 09:15 – 11:30am at 7 Moorland Crescent, Tokai. Follow the purple ribbons along Keyser River Drive (Road between Tokai Medicross and Blue Route Mall).
Items on sale vary from clothing, shoes, handbags to collectibles, books and gadgets.
For more information click here.
Steenberg Vineyards presents ‘Unveiling of the Black Swan’ on the 17 May 2014 at Catharina’s Restaurant on the Steenberg Farm, Tokai. Tickets are R650 per person and include a five course culinary voyage focusing on Steenberg Sauvignon Blanc. The event starts at 12:30. For more information call Chanel Bradley 021 713 2211 or email: email@example.com
Enjoy a movie night with Steenberg and Bistro 1682 in Tokai. Enjoy a hearty winter meal (vegetarian options are available), popcorn, Steenberg wine gums, cheese and crackers, and a movie for R190 per person.
Wine is available for purchase prior to the start of the movie.
For more information click here Tokai community event notice was brought to you by Chas Everitt – Tokai Click here to view Tokai property for sale
Every Friday night the The Night Market @ The Range takes place a The Range Function and Conference Centre in Tokai. The market is the perfect place to meet and ‘Chill’ after a hard working week. Choose from different food stalls, wines from local wine estates and a choice of craft beers. Parents have the chance to relax to background music while children have a wide variety of activities to choose from.
Open every Friday from 04:30pm – 09:30pm. Entrance and parking is free.
For more information click here or call 021 713 2340.