It’s widely recognised that Spring is real estate season, but here in the beautiful Gold Coast homes sell consistently year round. Over time, any property market has natural fluctuations, and the Gold Coast is no exception. It’s important whether you are buying or selling to know how to use these fluctuations to your advantage. Let me share with you some common real estate terminologies about differing markets and how they can help you.
What is a buyers market?
- Buyers dictate the selling price
- There are more properties for sale than buyers to purchase them
- Properties can take longer to sell
- Prices remain stable or sometimes fall
What is a sellers market?
- Sellers dictate their prices, and sometimes properties sell for over the listing price
- There are more buyers looking than properties to purchase
- Properties sell quickly
- Prices generally rise
- Sellers can receive offers from more than one buyer
What is a balanced market?
- Prices are generally stable, and sales happen within a reasonable amount of time
- A good number of buyers visit properties
- Number of properties for sale generally equals number of buyers looking
- Sellers consider reasonable offers
A note to sellers: the largest number of potential buyers will be attracted to your property in the first 30 days. Your property needs to be priced to suit the market in which you are selling- don’t put yourself in the situation where it will take longer to sell and you aren’t attracting the buyers that you want!
I’ve been in the real estate industry for many years and have successfully navigated the flurries and storms of market fluctuations. I would love to meet with you, listen to your needs, and use my knowledge to give you peace of mind. Let’s talk about how we can best match your financial goals, needs, and desired outcomes to the current Gold Coast property market for buyers and sellers.