13 Dec Spring 2017 Market Wrap-Up
Welcome to our first summer market update! Luton’s 9 offices across Canberra had an amazing November exchanging contracts on 158 properties.
Prices ranged from $273,500 for a renovated 1 bedroom unit in Campbell to $5.75 Million for a stunning executive home on a huge block in Deakin, setting a new suburb record!
During November Luton held a company record of 112 Auctions. 82 of those properties sold prior to or on auction day at a clearance rate of 73%. Demonstrating the strength of the Canberra marketplace, a year high average of 4.33 bidders registered for each of these auctions.
Luton conducted 236 auctions over the Spring quarter, with over 700 registered bidders. Many of those bidders who missed out are looking for the right property now.
Allhomes are reporting previous history has shown that January is usually one of their busiest months of the year on their site with many buyers having more time to search the site as they are on holiday. Allhomes also report that 70% of their customer experiences are now by mobile phone. Buyers are out in the suburbs looking at property and using their phones to see what else is available.
Even though we are winding down towards the end of the year, the real estate market never goes to sleep. We are seeing more vendors electing to start Auction marketing campaigns in December with an auction date in January 2018.
If you’re considering moving. I’d love the opportunity to discuss the potential of an off-market sale at a premium price.
On behalf of Luton’s 160 strong team we appreciate your support throughout the year and hope you have a safe and happy holiday season.