May Real Estate Market Update Girraween NSW Area
Another bustling month in real estate saw another 20 properties sold by the team here at Elders. Several properties saw sensational results with one particular home at 29 Andrews Avenue, Toongabbie attracting 76 buyer inspections to the first open home and selling for $106,000 above the promoted price. Another property at 54 Gilba Road, Girraween sold for an astronomical $155,000 above the promoted price when it made $804,000 after its first open home on the market.
A record was broken last weekend at 104 Girraween Road, Girraween which saw a staggering 138 groups through its first open home on the market, the highest since the 109 groups we had at 19 Collins St, Seven Hills back in 2013
With such a large number of buyer inspections through all of our properties in May alone there is no doubt that buyers are still out on the hunt however the recent budget release, talk of potential interest rises towards the end of the year and media articles saying that ‘the boom is over’ and ‘prices in Sydney dropped 2% over May’ we are seeing buyers being a little more cautious on purchasing property or offering a staggering amount.
Why on one hand do we have properties seeing as high as 60 – 100 buyers through the first open home and on the other hand we have properties where we only see 10–15 groups attending?
The answer is that there has been a shift in the marketplace toward a more property centric results basis and a shift in buyer’s attitudes that is less frenzied and a little more discerning than it has been. The most important selling advice we can give now is to set your home apart from the rest in order to ensure that you are getting maximum exposure and interest from the market.
This is done by going back to the basics of ensuring that the home is well presented, thoroughly and professionally marketed in all available mediums, priced accordingly to the current market and that your agent has the best negotiation skills in the marketplace.
These aspects of selling a property may have fallen to the wayside for some agents and owners over the past 12 months but with what we are seeing in the market place they are now key to see the best price achieved for the property.
About Jhai Mitchell
Jhai is an award winning Internet Marketing Real Estate Agent for Elders Toongabbie and Kings Langley. After running his own internet marketing business he has now set his own sites for the real estate industry. He observed that 90% of real estate agents did not know how to market themselves online. Jhai is now fixed on one goal. To teach real estate agents that they can market online so much better than they currently are.
Since then he has been consistently quoted in the Sydney Morning Herald and Real Estate Business online. He is a regular guest blogger on TheHomePage.com.au, sharing his expertise of marketing aspects for the Real Estate Industry. His biggest passions are his wife, martial arts, dogs and most of all property.