Kellyville Ridge 2023 Housing Market Recap: A Year of Robust Activity
The real estate landscape in Kellyville Ridge for 2023 unfolded as a dynamic and thriving market, witnessing 113 houses changing hands. A breakdown of key statistics reveals a balanced mix of sales methods, impressive property values, and efficient transactions.
Sales Methods: Private Treaty is still the most favoured.
The real estate landscape in Kellyville Ridge for 2023 reveals a distinctive trend, with a noteworthy 75% of houses sold through private treaty, in contrast to the remaining 25% transacted at auction. This dichotomy in sales methods sheds light on the dynamics and preferences within the local housing market.
The dominance of private treaty sales, accounting for 75% of all transactions, signifies a prevailing preference for a more traditional and negotiable approach. This method allows buyers and sellers to negotiate directly, providing flexibility and a personalised touch to the transaction process.
Median Sold Price: Strong Value Proposition
In 2023, the median house price in Kellyville Ridge surged to an impressive $1,535,000, marking a notable increase of 2.3% from the previous year. This upward trend underscores the sustained strength and desirability of the local real estate market. The rising median price reflects the intrinsic value placed on properties in Kellyville Ridge, attracting buyers who recognise the quality and investment potential of homes in this vibrant suburb. As the median price continues to climb, it not only signifies the housing market's resilience but also positions Kellyville Ridge as a sought-after destination suburb for those looking to make a rewarding investment in residential real estate.
Highest Sold Price: Premium Offerings
At the top end of the spectrum, 9 Teague Street, Kellyville Ridge, transacted by private treaty at an impressive $2,366,000, highlighting the diversity and premium offerings within Kellyville Ridge. This highest sold price emphasises the suburb's appeal to those seeking upscale and distinctive real estate and shows that private treaty is a viable selling method for a premium property selling in the area.
Transaction Efficiency: Swift Turnovers
Houses in Kellyville Ridge experienced swift turnovers, with an average of just 32 days on the market. This efficiency suggests a competitive environment where buyers and sellers are able to quickly reach agreements, contributing to the overall vibrancy of the real estate scene.
Auction Dynamics: Effective and Transparent
The auction market in Kellyville Ridge boasted a healthy clearance rate of 64.61%, indicating effective and transparent transactions. Of the 65 scheduled auctions, 13 properties were successfully sold prior to auction, 29 at auction, 19 passed in, and 4 were withdrawn. These numbers provide valuable insights into the competitive dynamics and negotiation strategies employed by both buyers and sellers.
In summary, Kellyville Ridge's 2023 housing market stands as a testament to its desirability and resilience. With a mix of sales methods, strong property values, efficient transactions, and a transparent auction market, the suburb continues to attract those seeking a vibrant and diverse community. As we move forward, these insights will undoubtedly shape the future trajectory of real estate in Kellyville Ridge.
2023 Market Summary for All Houses:
The number of houses sold: 113
Percentage sold through private treaty: 25%
Percentage sold through auction: 75%
The median sold price: $1,535,000
The highest sold price: $2,366,000
Average days on the market: 32 days
Median land size: 480 sqmAuction clearance rate: 64.61%
Auction Scheduled: 65
Sold prior auction: 13, Sold at auction: 29, Passed in: 19, Withdrawn: 4
2023 Market Summary for 3-Bedroom Houses:
The number of houses sold: 12
The median sold price: $1,290,000
The highest sold price: $1,590,000
Average days on the market: 27 days
Median land size: 352 sqm
2023 Market Summary for 4-Bedroom Houses:
The number of houses sold: 71
The median sold price: $1,519,000
The highest sold price: $2,366,000
Average days on the market: 26 days
Median land size: 480 sqm
2023 Market Summary for 5 or More-Bedroom Houses:
The number of houses sold: 30
The median sold price: $1,761,000
The highest sold price: $2,280,000
Average days on the market: 47 days
Median land size: 498 sqm
Know your property market in Kellyville Ridge
Staying well-informed about the Kellyville Ridge property market is crucial for making sound real estate decisions. For the most up-to-date insights and personalised guidance, consider contacting Irving Gunawan, your best real estate agent for Kellyville Ridge. Connect with him directly at 0468 956 677 to discuss your specific real estate needs.
Knowing your Kellyville Ridge property's current market value is essential. Begin by obtaining a free market appraisal for Kellyville Ridge, allowing you to gauge the prevailing market conditions. For additional resources, explore answers to frequently asked questions by home sellers about the process of selling property in Kellyville Ridge.
Your Kellyville Ridge Expert:
Irving Gunawan
Principal / Licensed Real Estate Agent
Irving G Property
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