20 Feb Planning on selling? Research the market…
Planning on selling within the next 6 months? Here’s some tips on researching the market;
There are many data sources that you can use to determine the current market conditions in the suburb or area in which you are selling.
Some of these sources are free and readily available, while others are available at a cost. These may include specific sales records for your surrounding streets.
You may consider consulting some of the following sources:
The Allhomes site contains information about current properties for sale and rental, past sales, suburb statistics, agents and maps. It includes easy to use ‘Research’ and ‘Search’ tools.
- Realestate.com.au https://www.realestate.com.au/sold
Realestate.com has information about current properties for sale and rental, past sales, suburb statistics, agents and maps. It also has a section specifically for people who are looking for property in a retirement village or community.
- Property Value https://www.propertyvalue.com.au/
‘Property Value’ is part of the Corelogic RP Data company, and this site is tailored specifically for the general public. Suburb, property sales and rental information can be explored, analysed and compared with integrated maps to view the area when pricing comparable properties.
- Australian Property Monitors http://www.apm.com.au/
This site features a ‘Home Price Guide’ section for sellers. You can view price history by street and post codes, get current price estimates, view a 10‑year price trend and gain a price forecast for your property.
- Local and regional newspapers
There is a real estate section in most weekend newspapers, with a lift-out guide usually provided in Saturday newspapers. These property guides list all recent sales results for the local area and they feature current properties for sale, where the seller has chosen to use print advertising. The up‑to‑the‑minute sales data can take up to three months to reflect in official databases and property websites, so keeping your eye on the local paper can be of great value to stay in the loop with what is happening in your region right now.
- Seek advice
After completing your own research, and once you have an idea of where your property sits in the market, it is also advisable to hear what other people (professional or otherwise) have to say.
You could ask friends or colleagues who have recently sold or bought property about their experience, and also listen to suggestions about any improvements that may enhance your property to increase its value.
You can also call or email some local real estate agents to ask them about the current market.
Some of the questions you might ask include:
- Information about recent sales in your street or suburb.
- How supply and demand is looking in the area or your specific suburb at the moment.
- Whether they can give you an appraisal for your property including a Comparative Market Analysis.
I would love to help with any questions or enquiries you may have, so please feel free to contact me here http://www.karenmurphyagent.com.au/appraisal/