This property market update will provide insight into the local house market in Stanhope Gardens NSW 2768 for September 2021.
âžž Related: Stanhope Gardens August 2021 housing market.
The number of houses sold (indication for the supply).
In Stanhope Gardens this September, ten houses have been sold. This number is less compared with the average number of houses sold in September within the past three years, where 14 homes sold.
Five sold were single-storey houses and four double-storey houses. Most of the properties sold were 4-bedroom houses.
Property selling methods: auction vs private treaty.
Two houses were sold through auction, while the other eight houses were sold by negotiation / private treaty (80%). September's auction clearance rate for Stanhope Gardens is 100%.
For comparison, in 2021: 87.88% of properties were sold by private treaty, and 12.12% at auction. The Stanhope Gardens auction clearance rate for 2021 is 72.72%.
âžž Related: Choosing auction vs private treaty.
Average days on the market (indication for the demand)
In September 2021, the average days on the market for all properties were 36 days, 18 days quicker to sell than the average within 12 months.
A double-storey house is slightly sold quicker (average of 32 days) than a single-storey house. (average of 40 days).
A three-bedroom house is the most popular with buyers, as it takes the shortest time on the market (average of 24 days), followed by a four-bedroom (average of 36 days) and a five-bedroom house (62 days).
This data is consistent with 2021 so far, where a three-bedroom house takes the shortest time on the market (average of 39 days), followed by a four-bedroom (average of 46 days) and a five-bedroom house (78 days).
Median sold prices.
The median price for all houses was $1,200,000 (25% increase from September 2020 median price of $960,000 but lower than 2021 median price of $1,300,000)
The highest price for a double-storey house was $1,709,000 (The highest this year is 1,755,000).
The highest price for a single-storey house was $1,250,000 (The highest this year is $1,510,000).
The median for a three-bedroom house was $1,165,000 (higher than 2021 median of $895,000).
The median for a four-bedroom house was $1,232,500 (higher than 2021 median of $1,157,000).
The median for a five-bedroom house sold was $1,654,500 (higher than 2021 median of $1,480,000).
Conclusion.
In summary, the property market in Stanhope Gardens remains strong, backed by solid demand for Stanhope Gardens property by the buyers, indicated by short days on the market. The median selling price across three to five-bedroom houses in the suburb also outperforming the 2021 median price.
It's important to stay updated with your local property market, so if you want to know the value of your property in this current market, you can start with Stanhope Gardens house value assessment. You can also read the answers to the most asked question by home sellers about selling property in Stanhope Gardens.
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