The latest Days on Market data (October 2020) from the Real Estate Institute of Victoria revealed that the average Victorian home is spending just 33 days on the market before being sold, the lowest recorded since 2009.
REIV President Leah Calnan says that the Victorian real estate market is starting to shine post COVID-19 restrictions with homes across the State taking less time to sell. Victorian real estate agents are enthusiastically servicing buyers returing to the market. “With homes in Victoria taking less time to sell, optimism is returning to the Victorian Real Estate Market.” Ms Calnan said “Days on Market is a strong indicator of buyers desire. Competition between buyers is heating up, and people aren’t waiting to purchase the property they want.” Property Partners are experiencing this first hand with incredible buyer enquiry levels, short days on market and multiple offers. Our recent sale in Warburton was on for 8 days with 7 offers and SOLD in excess of the top price range.