| January 2020 - Macarthur Region Wrap Up - By Natasha Williams |
Each month I will be sharing what we have been seeing in our local Macarthur Region real estate market. Kicking off 2020 with our first month wrap-up of the market trends we have seen throughout January heading into an exciting new decade for our region.
2020 is looking like a very positive year in our local Macarthur real estate market. Following the strong finish in sales closing out 2019, January has continued to show high numbers and interest in buyers across the Macarthur Region.
The current shortage of stock available on market mixed with a high demand of buyers looking to secure a home is swinging momentum in our game. This supply and demand trend is now pushing our market in an upward direction with sellers gaining more of an upper hand after a few years of downturn.
We are seeing good numbers of inspections each week coming through homes and highly active buyers committing on properties quickly. This has been helped by the new incentive for first home buyers giving them more borrowing power and we are seeing them gain confidence in moving ahead in purchasing a home early this year.
Based on what we have seen through January we will start to see the current days on market reduce over the opening months of 2020.
Don’t be fooled, there is still a resistance to price from buyers, however the properties that are meeting the market are benefiting with strong buyer competition in negotiations. Those who are above the current market value are still sitting around getting stale with very low buyer activity. It is the good old saying unfortunately “your homes are only worth what the current market is prepared to pay for it”. If you are serious about selling your home, pricing is a key player to achieving maximum return in the property game.
Suburb Statistics - Past 12 Month vs Last Month
I have selected 4 of our local suburbs this month to show you statistically how our market is travelling so far in 2020 compared to the previous 12 months. This month we will look at Gregory Hills, Kearns, Mount Annan and Harrington Park
Gregory Hills 2557 - 12 Months
# of sales - 153
# of listings - 196
Median price - $735,000
Dom - 74
Median rent - $520 p/w
Gregory Hills 2557 - Jan 2020
# of sales - 8
# of listings - 108
Dom - 48
Median price - $662,500
Median rent - $500 p/w
Kearns 2558 - 12 Months
# of sales - 32
# of listings - 24
Median price - $581,000
Dom - 55
Median rent - $465 p/w
Kearns 2558 - Jan 2020
# of sales - 4
# of listings - 2
Dom - 51
Median price - $630,000
Median rent - $450 p/w
Mount Annan 2567 - 12 Months
# of sales - 156
# of listings - 139
Median price - $717,000
Dom - 38
Median rent - $480 p/w
Mount Annan 2567 - Jan 2020
# of sales - 7
# of listings - 15
Dom - 42
Median price - $730,500
Median rent - $460 p/w
Harrington Park 2567 - 12 Months
# of sales - 170
# of listings - 187
Median price - $833,000
Dom - 59
Median rent - $560 p/w
Harrington Park 2567 - Jan 2020
# of sales - 10
# of listings - 43
Dom - 51
Median price - $900,000
Median rent - $530 p/w
Hot Tip for Sellers this month:
If you are planning on selling, get in quickly, do not hold off hoping that the market is improving. As supply increases to meet the current buyer demand, you are reducing the power of negotiating in a competitive environment with multiple buyers right now. As more homes come on the market the active buyers start to have more choice and your home is then competing against more options for them. My advice is to get in early before the tide turns and maximise what return now before you miss the boat. “Those who over analyse the market are generally the ones who miss out”
How do you choose the right neighbourhood? To determine the right neighbourhood for you, consider your pace of life - are you young and is the proximity to friends and entertainment important or are you looking for a quieter suburb.
If you have family plans consider schools, transport and amenities and safety of suburb. Consider where you work and the daily commute.
Out & About Macarthur:
AnnanRoma 2020 - Sunday February 23 - Pop it in your diaries!
The Macarthur regions much loved Food, Wine, Beer & More festival returns to a FREE one day format in 2020, with a February 23 event on Lakeside Lawn.
International cuisines,BBQ and smoked meats, burgers, desserts, gourmet condiments and more. Brewers and bubbles, cider. craft beer and wine cellar doors all showcasing their products for you to enjoy.
Roaming entertainment, live music, market stalls and lots of family fun with kids entertainment and activities.
Beautifully showcased at The Australian Botanic Gardens Mt Annan, combined with an awesome music line up and the best in food, wine and more sets up a great weekend, get the family organised and put this one in the diary!
Case study - Sale of the month story:
6 Starr Close, Camden - SOLD Off-Market
The vendors of this property engaged our services as they were relocating overseas. Following signing agency agreements for the sale of their home our team arranged the preparation phase obtaining quotes for repairs and maintenance for the vendors. We arranged access for these minor items to be completed including painting, gardens, removal of a few items and cleaning of the home prior to marketing and professional photos being taken.
We then launched the property to our database of buyers for off- market inspections. We held private inspections with these buyers, who we know well, as well as inviting others to a VIP invite only Open Home.
One of the clients I invited was a current vendors who I took through the property in a private inspection. They were looking to upgrade from their villa which I was selling for them to a family home in the local area. Having received an offer that they accepted on their villa the timing was perfect for them to look at securing their next home. Knowing what your clients require is one of my strengths and following the acceptance of the offer on their home I lined up a few inspections to suit. Following their inspection and further discussions to determine where things were at for them, we successfully managed to match them up with exactly what they were looking for and ticked all of their boxes within their budget.
Offers were presented and we negotiated an agreeable offer between both parties. Contracts were signed and packing began. They were super excited about getting the keys and have moved into their new home with the unpacking being completed on the weekend just gone.
Thank you for trusting me and MY Property Consultants with the sale of your villa and helping you secure your new home. I wish you and your family all the best and hope you make plenty of wonderful memories together in your new family home!
What My Clients Say:
Natasha was recommended by a work colleague and my partner and I have been incredibly happy with the service that she has provided. Natasha has been a wealth of knowledge and support throughout the whole process. She has provided us with all the useful, need-to-know knowledge involved with selling our family home to upgrade to another including tips that has helped make the whole experience less stressful for us.
She has always explained what was to be expected in coming weeks so that we weren't left guessing what we had to do next. Her communication is excellent, and we have found her highly reliable and friendly. Her expertise and professionalism is second to none, she doesn't miss a beat. I have felt like Natasha was a friend throughout the process and I am so grateful for everything she has done for myself and my little family. I will be recommending Natasha to everybody! Purchasers - Eden and Jessie
Want to know what your home is worth ?
Click on the link below to request your No Obligation FREE market report today - https://macarthurnsw.areahomevalues.net/
Natasha Williams - My Property Consultants
0449 281 201