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Monthly Market Report with Greg Earney – edition 5

19 Mar 2014 Methven 0 Comment

 

Market report image

Greg Earney (Director at our Mooroolbark office) and Georgia Hester (Director at our Lilydale office) present the 5th edition of our Monthly Market Report.February was a month of incredible sales, and Greg makes the observation that the first two months of 2014 has seen the market as strong and bouyant as he’s seen in his now 18 years real estate experience.  Our Lilydale office has had its best month on record in 5 years, with plenty of activity in the market. The Lilydale team has been doing great work with Deanna Ripepi having her best month yet in January, and Leanne Stacey having her best month yet in February.

Interest rates are at an all-time low and stock levels are also still very low. We are seeing a push from buyers who want to get into the market before prices rise with first home buyers and investors getting back into the market as well.   The last week of February saw 19 sales with a very low average number of days on market for each property. Open houses are still seeing around 20-30 groups through.   However it’s hard to be sure about how long the market will remain in this state – recent announcements from Toyota and Qantas among others means a lot of uncertainty in the economy. It is anyone’s guess as to when the market will slow down, but most agree that it will. For this reason, anyone who is considering moving or selling this year will probably find that the earlier they do so, the better the result they will achieve.

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