This property market update will provide insight into the local house market in The Ponds NSW 2769 for October 2021 during the easing of the Covid-19 lockdown.
➞ Related: The Ponds September 2021 housing market.
The number of houses sold (indication for the supply).
In October 2021, there were 21 houses sold in the Ponds. This number is similar to the average number of houses sold in October within the past three years and the previous month, indicating a steady supply.
Eighteen of the properties sold were 4-bedroom houses (85.71%) and three was at least 5-bedroom houses (14.29%).
Property selling methods: auction vs private treaty.
Seven houses were sold through auction (33.33%), while the other eleven were sold through private treaty / by negotiation (66.67%). The Ponds auction clearance rate for October was 77.77%.
For comparison, in 2021: 81.07% of properties were sold by private treaty, and 18.93% were by auction. The Ponds auction clearance rate for 2021 is 72.15%.
➞ Related: Choosing auction vs private treaty.
Average days on the market (indication for the demand)
In October 2021, the average days on the market for all properties were 22 days, twenty days shorter to sell than the average in 2021, which indicates a high buyer demand or competition.
A five-bedroom house is the most popular with buyers as it takes a shorter time to sell on the market with an average of 20 days compared with a four-bedroom house with 23days.
This trend is in contrast with all the houses sold in 2021 where a four-bedroom home takes a shorter time on the market (average of 39 days) compared with a five-bedroom house (average of 48 days).
Median sold prices.
The median price for all houses was $1,610,000 (46.36% increase from the October 2020 median price of $1,100,000 and 6.27% increase compared to last month).
The median for a four-bedroom house was $1,519,000 (higher than last month median of $1,515,000 and the 2021 median of $1,355,000).
The median for a five-bedroom house was $1,832,000 (higher than last month median of $1,577,500 and the 2021 median of $1,500,000).
The Highest Sold Prices.
The highest price sold in October 2021 for The Ponds was $1,990,000.
The highest price sold for a four-bedroom house was $1,880,000.
The highest price sold for a five-bedroom house was $1,990,000.
Conclusion.
In summary, the Ponds property market in October 2021 showed high median prices, a high auction clearance rate and a short time on the market, indicating a strong seller market supplemented by high demand from the buyers. The ease of the Covid-19 lockdown further aided this strong housing market. Based on time on the market, a five-bedroom house is quicker to sell than a four-bedroom house. October median selling price was significantly higher than October last year and increased from September median price, indicating the selling price's upward trend.
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 a free property appraisal for The Ponds. You can also read the answers to the most asked question by house sellers about selling a house in The Ponds.
Irving Gunawan | Ray White Kellyville
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