Methven 
The most frequent question we are being asked at the moment is “should I sell now or should I wait until spring or a later time when restrictions have eased?” We wish our answer was a simple one but unfortunately during this time nothing is simple! The one thing we can say is what the market is doing now. Unfortunately we don’t have a crystal ball and we don’t know what the market will be like in the future but for those who are wanting to sell and are in a position to place their homes on the market now we are suggesting they go for it. Yes, there is an element of chance, because things seem to be changing on a weekly basis, but so far June and July have been exceptionally good selling periods with some incredible sale prices being achieved! Surprisingly the market is excellent!
In July our team made an incredible 57 sales (almost 2 a day!) and we actually sold more this July than we did in July 2019! The average days on market was 24.5 days and we conducted a whopping 600+ buyer inspections for the month. The fact is sellers are still selling, and buyers are still buying with many (approximately 45%) of our sales having multiple buyers offering on the same property.
COVID-19 has certainly changed the world, but it hasn’t ended it! The number of houses currently for sale has dropped approximately 35% from ‘normal’ levels, which has seen the median house prices for Maroondah and the Yarra Ranges overall remain steady with some suburbs seeing a slight increase and other suburbs a slight decrease. The fact that at this stage prices haven’t fallen like they were predicted to should be very reassuring for those considering selling, but for how long will prices hold is the question as a more bleak outlook for the economy and property prices seems likely.
People will always need a roof over their heads, and there’s always homeowners wanting to upsize, downsize or relocate. We cannot predict where things will be in the next 3 to 6 months, but judging by the economic forecast, things aren’t looking promising for the country moving forwards. We firmly believe that if you have any plans to move in the next 3 to 6 months, and going by how strong the market currently is, our advice would be to sell now – but be warned, that advice could very quickly change in the weeks or months ahead.
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