This is a very interesting subject at the moment, with a lot of industry commentary suggesting that now is a difficult time to sell. However, sales data from the backend of PriceFinder and online typically reflects activity from 2–3 months ago. Here’s what we can share from our most recent experience in the market.
We listed a property at 13/25 Dudley Street, Highgate Hill less than 3 weeks ago with a focused marketing campaign including professional photos, a highlighted listing on Realestate.com.au, and a Matterport 3D Tour. We deliberately did not put a “For Sale” sign outside the property given the reduced foot traffic at the time.
Due to the COVID-19 situation, all viewings were done by private inspection only. Within the first week, we had 4 offers — from 4 buyers who inspected in person and 2 viewing virtually from interstate. The property was listed at $410,000 and ultimately achieved a sales price above the advertised price.
While in theory most people are saying it’s not a great time to sell, we are yet to see the true effects of COVID-19 in the market. From all indications, while there are more restrictions on how selling is conducted, nothing has changed in terms of buyer demand for well-marketed properties.
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