Victorian Homes snapped up quickly post COVID 19 restrictions eased.

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.
Calculated as a rolling monthly average for properties sold by private treaty, Days on Market data is a metric that reflects the level of buyer interest in the market.
REIV President Leah Calnan said Victorian real estate agents are enthusiastically servicing buyers returning to the market. “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 also experiencing high demand in the Yarra Valley and Dandenong Ranges areas from people moving out from the Melbourne Suburbs, recently selling a Warburton Property on the market for 8 days with 7 offers and selling well above the top price range. Optimism is high for us.