Welcome to the May 2023 Kincade International Realty Newsletter.
The results are in for April 2023 and the market has picked up in many suburbs and confidence seems to be back in the market.
In my meetings over the last few weeks, I have traveled to Europe and the US as well as around NSW. I am again constantly asked how the market is doing. Everyone's uncertainty is evident as clients and colleagues are attentive to my response.
It is difficult to answer this question broadly, as many suburbs and price points are uniquely different; however, here are my thoughts on where we are:
I believe that if your property is correctly priced it will sell in a timely manner. I have seen this in many circumstances over the last 3 months. It is really important to adhere to the latest CMA reports (Comparable Market Analysis). Sellers who respect the market conditions will sell their property. Inventory is tight and therefore well-presented properties that are priced correctly will sell.
I also would encourage sellers to review all 3 selling options, including private treaty, expressions of interest, and auction. In a Buyers market, it is important to understand your buyer pool and how many buyers are interested in your property. Kincade agents are committed to advising you on the best route forward for your property disposal and helping you to choose the best route for you and your family. Our knowledge of the current market is second to none. I would encourage clients to reach out to us for a free market appraisal.
The Luxury market has seen prices holding firm during this current cycle. this is due to a lack of quality inventory and cash buyers.
If you are a Buyer, there are some great opportunities in the market and I would encourage you to contact us at Kincade International Realty, for a discussion on how we can help you navigate this current real estate market.
The recent and future increases in interest rates will fuel more negative news. However, due to the lack of inventory/stock across all price points, sales prices, in reality, have been pretty stable, if the property is valued correctly and taken to market with the correct pricing.
