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Limited stock means buyers act early

As we have been saying for several weeks now, whilst there are certainly challenges at the moment for many Victorians as we deal with the implication of Covid-19, it is clear that there are still good numbers of people who are willing and able to purchase real estate right now.

With the number of properties available for sale being reduced, this means that a lot of prospective purchasers are acting quickly when they find a suitable property, rather than waiting for a specified date in the future such as at an auction or one of our Sale by Set Date® campaigns.

In fact, we saw three prime examples of this trend in the past week or so, including:

Essendon: 3/139 Woodland Street. This well-maintained two-bedroom apartment (pictured) on the doorstep of Woodlands Park was due to be auctioned this weekend, but strong interest from two buyers saw a bid-off conducted during the week, with the sold sign going up at $522,250.

Moonee Ponds: 1/117 Waverley Street. This architecturally intriguing two-bedroom home set at the front of a boutique grouping with the riverside parks right across the street was another of this week’s scheduled auctions to find new owners before the set date. Once again two bidders competed, with the contracts being signed during the week.

Niddrie: 44A Haldane Road. This modern, single-level three-bedroom home combined a smooth-flowing contemporary floorplan with a convenient location within walking distance of the Keilor Road retail precinct. The decision to utilise our unique Sale by Set Date® marketing strategy proved a positive one when a strong sale at $800,000 was completed almost three weeks prior to the proposed closing date for offers.

With Open Houses returning to the streetscape on a limited basis this week, and good attendance numbers being recorded at many of them, the scene is now set for a few more astute home sellers to hit the market and make the most of the current imbalance between multiple buyers and limited sellers.

If you would like some experienced guidance on how to make the most of the current conditions, feel free to give us a call at Barry Plant Barry Plant Moonee Valley on 9373 0000.

Regards,

Bill Karp

Director – Barry Plant Real Estate

Essendon & Keilor East