Sotheby's’ Post

The following stats serve as further evidence of the fluctuating dynamics within the current Sydney market. The alignment of keys areas such as auction price guides, seller expectations and market trends is crucial to ensure the engagement of buyers. The recent week for BresicWhitney highlights the effectiveness of having these keys areas aligned, backed by a strong clearance rate during our week of auctions. Well done to Rhonda Yim and Hanna Kim for their excellent result in Petersham, featured below. 23 Scheduled Auctions 14 Sold Prior 7 Sold at Auction 6.6 Average registered per auction 18.3 Average number of bids Average Sale Price $2.62m   91.3% BW Clearance rate

Why Consider Buying at Auction? - - - 1. Clear and Open Process 🏠 Auctions offer a straightforward and transparent way to buy property. You can see who you're up against in real-time. Importantly, as the buyer, you decide the price, not the seller. There's no hidden negotiation, so you're on the same footing as other buyers, keeping your control. 2. Saves Time ⌛ Buying at auction is usually faster because it skips long negotiation periods. There's no waiting for "Expressions of Interest" deadlines - the auction date is set, ensuring a definite outcome whether you show up or not. 3. Reduced Competition 💸 As not every buyer has unconditional finance, this often results in decreased competition, potentially leading to better pricing opportunities for you as the buyer. Some buyers tend to feel overwhelmed or uncomfortable bidding at an auction, let me partner with you to make the process easier. Call me at 0431 562 535. #BuyersAgentsBrisbane #RealEstateBrisbane #BrisbaneProperty #BrisbaneBuyersAgent #BrisbaneRealEstate #PropertyInvestmentBrisbane #BrisbanePropertyMarket #BrisbaneHomes #BrisbanePropertyInvestor #BrisbanePropertyBuyers

Welcome to our weekly market update for our sales team with results and buyer activity for the last 7 days: * 4 properties sold – 4/43 Station Rd Auburn - $491,000 sold “off market with 2 competing buyers) ; 250 Nottinghill Rd Regents Park - $1,000,000 ( sold a few weeks after the auction); 15 Haywood Pl Greystanes - $1,100,000 ( sold a few weeks after the auction) ; 27 Neilson St Granville - $1,300,000 (sold at auction with 7 registered bidders) * 5 properties currently under contract * 3 new properties came to market * Open homes - 21 open homes If you have any questions on the market, leave a comment, send a message , or call our team on 97494949 #realestate #property #marketupdate #marketreport #howsthemarket #realestateagent #realestateadvice #realestatenews #sellingahome #buyingahome #thinkingofbuyingorselling

🏡💼 Market Resilience: Auction Trends Post-Rate Hike 📈🔨 Despite a fresh rate increase, auction markets remained steady! Adelaide led with a 74.6% clearance, with Melbourne (66.6%) and Sydney (70.5%) following suit. 📍🔍 The nation saw a 64.1% clearance rate, a slight dip from last week but still stronger than last year. Listings soared to 2086, hinting at an active market. 📊📈 Some top sales from around AU: Sydney: A 4-bedroom house at 11 Read St, Bronte, took the crown with a whopping sale of $5,800,000. 🌊🏠 Melbourne: The highest bid was won by a 4-bedroom house at 20 Fairy St, Ivanhoe, fetching an impressive $3,470,000. 🍃🏡 As we brace for a potential December rate rise, the real estate scene remains robust, reflecting confidence among sellers and choice for buyers. 🏠💪 #AuctionUpdate #RealEstateTrends #MarketWatch #PropertyInsights

Welcome to our weekly market update for our sales team with results and buyer activity for the last 7 days: * 4 properties sold – 106 Joseph St Lidcombe - sold for $1,426,000 36a Gibbs St Auburn - sold for $1,271,000 12 Elm rd Auburn - sold at auction for $1,166,600 32 Berith st Auburn - sold before auction for $900,000 * 4 properties currently under contract * 4 new properties came to market * Buyer interest still strong If you have any questions on the market, leave a comment, send a message , or call our team on 97494949 #realestate #property #marketupdate #marketreport #howsthemarket #realestateagent #realestateadvice #realestatenews #sellingahome #buyingahome

Another busy week of auctions scheduled for Sydney over the weekend saw the preliminary clearance rate drop back slightly to the mid 60’s. A similar result was experienced this exact same time last year. Price growth is still occurring, albeit at a much slower pace. Agents are reporting that the number of buyers per property has decreased making it more challenging to put deals together. It’s times like these you need to ensure your selling agent has solid and proven negotiation techniques. Understanding their approach is a key factor for us when helping our clients choose the best agent to sell their home. DM us if you’d like to find out how we do it! 🏠✨❤️ #mondaymarketwrapup #auctionclearance #vendoradvocate #sellersadvocate #sellformore #innovativepropertyadvocates #kathrynfantov

Another busy week of auctions scheduled for Sydney over the weekend saw the preliminary clearance rate drop back slightly to the mid 60’s. A similar result was experienced this exact same time last year. Price growth is still occurring, albeit at a much slower pace. Agents are reporting that the number of buyers per property has decreased making it more challenging to put deals together. It’s times like these you need to ensure your selling agent has solid and proven negotiation techniques. Understanding their approach is a key factor for us when helping our clients choose the best agent to sell their home. DM us if you’d like to find out how we do it! 🏠✨❤️ #mondaymarketwrapup #auctionclearance #vendoradvocate #sellersadvocate #sellformore #innovativepropertyadvocates #kathrynfantov

Auction clearance rates across the country finished at 71.8% over the past weekend. Sydney led the way with 76.8%, followed by Melbourne 70.1% and Adelaide 69.4%. Nationally, clearance rates over the last 4 weeks have slowly trended downwards. With higher clearance rates at the beginning of 2024, we saw that reflected in house values rising. With the slow trend downward, should we expect house prices to stagnate? - Week ending 11th Feb: 76.2% - Week ending 18th Feb: 75.4% - Week ending 25th Feb: 73.5% - Week ending 3rd March: 71.8% https://lnkd.in/gvCDrfkX

Sotheby's has made historic changes to its fee structure. They've reduced buyer's premium and introduced a uniform commission rate for sellers. It'll be interesting to see what effect this has on the market and how the competition responds. The new buyer's premium rate will be 20% on purchases of a hammer value up to USD$6 million and then 10% of the portion of the hammer price above USD$6 million. The new seller’s commission rate is now 10% on the first USD$500,000 of the hammer price per lot across all categories. No seller's commission will be charged above USD$500,000 per lot. #auction #artmarket #sothebys #buyerspremium #sellerscommission #artinvestment #collectors @sothebys