This property market update will provide insight into the local house market in Stanhope Gardens NSW 2768 for Q3 2022 (1 July 2022 - 30 September 2022).
âžž Related: Stanhope Gardens Property Market
The number of houses sold
In Q3 2022, there were 28 houses sold in Stanhope Gardens. This number is less than the last year's Q3 when 39 houses were sold, indicating demand is decreasing. Half of the properties sold were 4-bedroom houses, 8 of them were 5+-bedroom houses and 5 of them were 4-bedroom houses.
Median sold prices
The median price for all houses in Q3 2022 was $1,360,500 (an 8.8% increase from the Q3 2021 median price of $1,250,000 and a 7.8% decrease from the Q2 2022 median price of $1,475,000).
For a three-bedroom house, the median was $1,110,000 (higher than the Q2 median of $1,087,500)
For a four-bedroom house, the median was $1,415,000 (lower than the Q2 median of $1,440,000).
For a five-bedroom or more house, the median was $1,424,250 (lower than the Q2 median of $1,750,000).
âžž Related: Know your property value in Stanhope Gardens
The highest sold prices
The highest price sold was $2,055,000 for 24 Singleton Avenue, Stanhope Gardens, a four-bedroom house with a two-bedroom granny flat.
The highest price sold for a three-bedroom house was $1,172,000.
The highest price sold for a four-bedroom house was $1,655,000.
Method of selling
In Q3 2022 in Stanhope Gardens, 23 houses were sold through private treaty / by negotiation (82.2%), and only five houses were sold at auction (17.8%). In this quarter there were 14 auctions scheduled for Stanhope Gardens, making the auction clearance rate for Q3 to be 35.7%.
For comparison, in 2022 (Q1 - Q3): 71 of properties (85.5%) were sold by private treaty and 12 properties (14.5%) were by auction. The Stanhope Gardens auction clearance rate for 2022 is 36.4% based on 33 auctions result. âžž Related: Choosing auction vs private treaty.
Average days on the market
In Q3 2022, the average days on the market for all properties were 34 days, eight days quicker to sell than in Q2 2022 (42 days) and two days quicker than the average in 2022 (36 days). These shorter days on the market indicate a higher buyer demand or competition compared with Q2 2022 and 2022. The quickest sale took 7 days whereas the longest sale took 75 days.
Conclusion
This year's Stanhope Gardens Q3 compared with Q3 2021, showed a lower number of sold properties, but higher median prices of $1,360,500. The highest price for a house sold was $2,055,000. The majority of houses (23 houses) were sold by private treaty and only five were sold at auction. Stanhope Gardens's Q3 auction clearance rate is 35.7% which is below average. Compared with Q2, Q3 had a shorter time on the market indicating higher buyer competition.
Know your Stanhope Gardens property market
To get the latest information on the Stanhope Gardens property market, connect with Irving Gunawan your top-rated Stanhope Gardens real estate agent to discuss your real estate needs at 0468 956 677.
It's important to stay updated with your property's market price, so if you want to know the value of your property in this current market, you can start with a free property appraisal for Stanhope Gardens. You can also read the answers to the most asked question by home sellers about selling property in Stanhope Gardens.
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