Is AUCTION the BEST WAY toSELL in 2023.?

5 Feb

Hooweee, howdy and happiest of Sunday's, I tell you why we're a little EXTRA excited this week..? Well yes KIDS are back at school.. As much as we love them to bits, after almost 2 months together it's time.. So wishing all those little squirts that have started back this past week ALL the very best for another exciting school year ahead..

So over recent months, during this rate rising cycle, it has been very interesting to see how consumer behaviour has started to shift, adapt and change.. I've always been the strongest believer that AUCTION really is the one and only best method of sale for most homes and sellers. I mean the sale is unconditional, there is strict control of the terms and settlement preferences, once it's SOLD on the day of auction, there no worries for the owner they can go shopping for their next home the very next day.. However after 8 successive Interest Rate Rises in a row, we have noticed an emerging trend, that unless we are selling an upgraders, or upsizers style of home, to the type of educated and experienced buyer that has done it 2, 3 or even 4+ times before. Buyers, especially 1st home buyers have been very hesitant to get involved, often sitting back on the sidelines and not engaging.. So what's the solution..?

Well to still set a timeline by which an owner would like their sale process concluded by, Sales by EXPRESSIONS of INTEREST has been working extremely well and providing a much fairer balance between buyers and sellers of offering sellers the comfort of a timeline, whilst also offering buyers the fairness that if they are concerned about: 'Will the bank value it for the purchase price.?' or 'Will I secure formal finance approval.?' It provides them the balanced option to include conditions such as 'Subject to Finance' to give them the confidence to go and BUY their next home. With this flexbility, we have seen many more buyers engaging in Expression of Interest Sale Campaigns, and multiple offers still being generated on the majority of homes sales in January..

So for the foreseeable future at least, is it time to rethink who is your target market.? Could a fresh and blended sales approach be the best option to consider.? For any further info on this topic, or to meet with our team, feel free to reach out.. If you would also like to read one of Tim Lawless's 'Executive Manager of Research from CoreLogic' recent articles about auction clearance rates and market trends, simply, simply CLICK HERE or HIT the IMAGE below..

This Week C+M Also COVERS:

What's the BEST way to SELL in 2023.?
What's My Property WORTH.?
C+M Market Activity & Clearance Rates..
Your Suburbs SOLD Results
Wish Of The Week..

Book a CURRENT PRICE Check?

Curious to get an UPDATE on where your property value sits this 2023. If you'd like to BOOK in your complimentary new years 'PRICE CHECK' online today.

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The week's PRE-MARKET and YET to be Photographed homes:

2/67 View St, Glenroy: LOW Maintenance Home, Coming Soon
9 Irvine St, Pascoe Vale: SIDE by Side Brand New Home, Coming Soon
3/25 Prospect St, Glenroy: TWO Bed, 2 Bath Townhome, Coming Soon

The week's NEWEST home to market at C+M Residential:

76A Melbourne Ave, Glenroy: LOW Maintenance Home: $600k - $650k
19A John St, Oak Park: STREET Facing Townhome: Contact Agent
1/116 Bindi St, Glenroy: SINGLE Level Newbie: $495k - $545k
2/116 Bindi St, Glenroy: BRAND New Gem: $465k - $495k
126 Justin Ave,Glenroy: NEST Or Invest: $585k - $615k
27A Archibald St, Pascoe Vale: LARGE Family Home: $1m
1/110 Winifred St, Oak Park: CLASS & Character: $755k - $815k
2 Win-Malee St, Hadfield: SOUGHT After Locale: $975k - $1.065m
108 Valley Cres, Glenroy: FAMILY Home In The Valley: Contact Agent
153 Riggall St, Broadmeadows: OH, The Views: $675k - $735k
2/22 Langton St, Glenroy: TOWNHOME With All The Luxuries: $585k - $635k

The week's local SOLD results at C+M Residential:

36 Maude Ave, Glenroy: SOLD @ Private Sale: $870,000
3/116 Bindi St, Glenroy: SOLD @ Privae Sale: $530,000
24B Leonard Ave, Glenroy: SOLD @ Private Sale: $845,000
4/18 Curie Ave, Glenroy: SOLD @ Private Sale: $730,000

Auction Clearance STATS:
4th Feb'23

*preliminary results based on Sundays Data from realestate.com.au

  
    STATISTIC
    DATE
    No. or %    
  

    Results Available
    This Week
    372
  

    SOLD @ Auction
    This Week
    159
  

    SOLD Prior
    This Week
    68
  

    Clearance Rate
    This Week
    63%
  

    SOLD after Auction
    This Week
    7
  

    Withdrawn
    This Week
    47
  

    Total Scheduled
    This Week
    483
  

    PASSED IN
    This Week
    91
  