The market is in a funk! 

Good news for buyers: the current market conditions present some unique opportunities.

On the Upside:

• Increased Stock Levels: More properties mean more choices for you.

• Less Investor Activity: With fewer investors, you’ll face less competition.

• Price Reductions: I'm seeing a significant number of price reductions, indicating that prices are stabilizing.

• Fewer Bidders: The average number of bidders per property is decreasing, reflecting a market with less qualified buyers.

On the Downside:

• Unrealistic Price Expectations: Some sellers still have inflated expectations and may not be motivated to sell.

• Determining Fair Value: It can be tricky to assess what constitutes a fair price for properties.

• Agent Perceptions: If you're not pre-approved and ready to act, agents may overlook you.

Here’s the relevant data that matters:

If you’re a serious buyer looking to make a move in 2024, now is the time!

Don’t wait for others to recognize the opportunities - once they do, competition will ramp up, and prices are likely to rise.

Keep in mind that the media often reports on market trends with a three-month lag. While they may not be highlighting softening prices just yet, discussions about potential interest rate decreases in 2025 - especially following recent cuts by the US Federal Reserve - suggest that the market could swing back in favour of sellers soon.

With just 13 weeks until Christmas (you're welcome!), and a standard 6-week settlement period in NSW, now is the time to act if you want to be in your new home by the holidays.

Let’s schedule a call and get started on your home search today!