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Wollongong Real Estate Market Update: Selling in Winter

A Molenaar x McNeice property with a cozy fireplace. Winter Real Estate Wollongong.Autumn may have brought a chill to the air, but Wollongong’s real estate market remained anything but frosty in May. The latest figures reveal a dynamic month of activity, with strong buyer interest and impressive sales figures. Read on to find out more about Real Estate in Wollongong.

Many assume that Autumn and Winter represent a quiet month in the real estate world, with colder temperatures and less sun making attending open homes less appealing. However, we at Molenaar x McNeice know better. Whilst there is a roughly 20% drop in open home attendees in the colder months, houses spend less time on the market and still achieve great sales prices, revealing that dedicated buyers are still active and serious about finding their dream home.

Selling in Winter represents a unique proposition in the real estate market in Wollongong, where ‘tire kickers’ and those who are ‘just browsing’ stay home, and you get more time with people ready to buy today.

Below is more information on the Wollongong real estate market in Autumn and Winter.

Sales Surge: A total of 37 properties changed hands in May, showcasing a healthy level of transactions and demonstrating continued confidence in the Wollongong market. Comparatively in November of 2023, a time of year that is considered the height of the calendar year buzz in Real Estate in Wollongong there were 38 properties sold by Molenaar x McNeice.

Value Soars: The combined value of homes sold by our sales team reached $41.37 million, reflecting the desirability and value of properties within the region.

Buyer Buzz: Open homes were bustling with activity, drawing in a total of 813 potential buyers over the course of May. This highlights a strong pool of active buyers eagerly seeking their slice of the market. Last year in November during the typical ‘busy time in the market, our team had 1009 buyers come through our properties. This indicates a 20% drop in open home attendees, however represents that the decrease has not affected the performance of the market whatsoever.

Price Point: The average sale price for the month settled at $1.109 million, a figure that may raise eyebrows for some but underlines the value proposition that the Real Estate Market in Wollongong continues to offer.

Time to Sell: Properties moved swiftly, averaging just 35 days on the market. This suggests a competitive environment where well-priced and presented homes are finding buyers efficiently.

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Auctions Reign Supreme: The auction clearance rate of 87.5% showcases the effectiveness of this method for sellers in the current climate. Competitive bidding and strong results are still present and it has shown that there is no deterring of buyers despite the cool change.

Looking at this information, you can see that the real estate market in Wollongong has great opportunities for sellers and buyers in the colder months, despite the general misconception that Summer is the peak of real estate activity.

If you’re serious about buying or selling, don’t be afraid to seize the opportunity to get your property on the market with the help of your friendly real estate experts at Molenaar x McNeice!

You can click here to book a free, no-obligation, agent appraisal or property estimate and find out what your property is worth, and get the ball rolling on selling in Winter.

 

What This Means for You – Tips for the Winter Property Market: 

  • Sellers: If you’ve been considering listing your property, now might be an opportune time. Buyer demand is high, and properties are selling relatively quickly.
  • Buyers: Don’t hesitate. While prices remain robust, there are still opportunities to be found. Attending open homes and being ready to act decisively is key. Make sure you have your finance approved and are ready to make the jump on a property quickly to avoid missing out.
  • Investors: Wollongong’s rental market remains tight, making it an attractive option for those seeking rental yield.

Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Always consult with a qualified professional before making any real estate decisions.

Jordy Woolley
dynamic | innovate | style Jordy’s journey at Molenaar and McNeice epitomises the spirit of innovation. She first joined us as an experienced property manager where she hit the ground running with her fierce drive to redefine what property management can look like. Less than 12 month...View Profile ›
Molenaar x McNeice
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