Will Low Listings Persist in 2023.?

29 Jan

Hello and happy Australia Day weekend, with the final opportunity to relax in true Australian spirit before 2023 really kicks into gear, kids returning to school and most of the nation getting back into their full worklife rythym. We would like to send C+M's warmest Australia Day wishes and hope you pop a snag or prawn on the barbie to celebrate friends..

Today we take a closer look at an emerging trend of unusually LOWER levels of listing supply and volume of sales numbers, that being LESS homes for sale and fewer homes SOLD.. So far the flow of listings over the past 4 weeks was -25.9% BELOW the previous 5 year average and -20.3% lower than the same period a year ago. This shortage of listings follows less confidence from sellers to come to market, with the total number of home SOLD estimated to be -27.3% lower than the same time in 2021 and -6.6% below the 5 year average. This ONE factor alone so far has seen January yield unusually HIGHER buyer activity through property open homes, given buyers currently have less options to choose from.

Early indicators show that the market this year will be a fine balancing act of:

MORE or TOO many homes coming to market, seeing softening prices
To LIMITED flow of homes, potentially seeing prices stablise and remain steady

So ALL eyes will be on this space to see how the coming months unfold. With week 11 of every year in March, traditionally representing the PEAK flow of new listings nationally.

To read the FULL ARTICLE by Tim Lawless 'Executive Manager of Research from CoreLogic', simply CLICK HERE or HIT the IMAGE below..

This Week C+M Also COVERS:

Will LOW Listings Persist in 2023.?
What's My Property WORTH.?
C+M Market Activity & Clearance Rates..
Your Suburbs SOLD Results
LAST CHANGE Santa Letters..

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.

It's quick and easy. Simply CLICK HERE or HIT the IMAGE below, and follow the 3 easy Steps...

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

126 Justin Ave,Glenroy: STREET Facing Townhouse, Coming Soon..
27A Archibald St, Pascoe Vale: STREET Facing Family Home, Coming Soon..
1/110 Winifred St, Oak Park: CUTE As A Button, Coming Soon..
2 Win-Malee St, Hadfield: SOUGHT After Locale, Coming Soon..
108 Valley Cres, Glenroy: FAMILY Home, Coming Soon..
153 Riggall St, Broadmeadows: NEAR New Home, Coming Soon..
76A Melbourne Ave, Glenroy: LOW Maintenance Home, Coming Soon
19A John St, Oak Park: STREET Facing Townhome, Coming Soon..
2&3/116 Bindi St, Glenroy: TWO Single Level Newbies, Coming Soon..

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

4/46 Gladstone Pde, Glenroy: STYLISH Single Level Living: $595k - $625k
123 Outlook Drive, Glenroy: PICTURE Perfect Family Home: $697k - $755k
1/2 South St, Hadfield: STREET Facing Stunner: $775k

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

2/12 Hubert Ave, Glenroy: SOLD @ Private Sale: $615,000
4/21 Prospect St, Glenroy: SOLD @ Private Sale: $730,000
8 Isla Ave, Glenroy: SOLD @ Private Sale: $1,335,000

Auction Clearance STATS:
28/01/23

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

  
    STATISTIC
    DATE
    No. or %    
  

    Results Available
    This Week
    188
  

    SOLD @ Auction
    This Week
    86
  

    SOLD Prior
    This Week
    22
  

    Clearance Rate
    This Week
    59%
  

    SOLD after Auction
    This Week
    2
  

    Withdrawn
    This Week
    23
  

    Total Scheduled
    This Week
    300
  

    PASSED IN
    This Week
    55
  