Another year is upon us! Filled with excitement, hope and maybe just a little uncertainty, we are just at the beginning of a new year, a new chapter, a new adventure.
I am sure we are not the only ones evaluating, reflecting on the year gone, and dreaming of the year to come. Already we have been lucky enough to meet some wonderful locals in 2023 that have done just that; taken a moment to assess what they are looking for from their property.
We have met wonderful couple looking to downsize and make life more low maintenance and easy for retirement, a professional couple looking to capitalise on the growth of their rental property to then sell and invest in their family home. With all the changes and challenges everyone has experienced over the last few years, we have met many locals looking to make an adjustment to a different lifestyle.
What all our clients have in common at the moment, is an awareness of change. That there has been a considerable shift in the economy and that reflects heavily in the real estate market. One of the most notable changes recently is the number of days on market in Ocean Grove. Pricefinder has reported that out of the current 208 listings for sale, 133 of those have been on the market longer than 60 days.* This is in stark contrast to the average 33 days on market over 2020 and 2021.
Educating our clients on the market is at the forefront for our agents this year, encouraging them to conduct research themselves and take expert advice from not only their agents but also brokers or financial advisors. The most beneficial offering we have for 2023 is to provide information.
Another insight that we are passing to our clients – the right time to sell or buy a property, is when it is right for you. It’s important that you are making the decision that is best for you, your family and your situation. While market trends may play a role in your decision that should not be the sole reason you decide to sell or buy a property. In 2023, do what is right for you!
*Pricefinder report from 13/01/2023 looking at current listings in Ocean Grove 3226.