Go Meet the Market
I have to start with an apology this week and say a large SORRY to a number of people I have spoken to regarding sales statistics in February. I rather foolishly told them that I thought there would likely be around 80 sales for the whole of February. So why the apology? 80 sales wouldn’t be a huge number of sales for the busiest selling month of the year. It’s because I was totally and utterly wrong!!
There were in actual fact 35 sales. 35! This is the lowest February figure since records began in 1992. The trend is continuing of downward numbers of sales and increased number of listings. The listings available in Upper Hutt at the time of writing (14 March) number 402, this figure has been around 370380 for the best part of a year, to see this increase and sales decline should be a worry for vendors.
So are we in a buyers market? Not yet would be my answer but I don’t believe we are too far away, so what recourse do vendors have to ensure they sell? Very simply, go meet the market, because the market isn’t coming to meet you. I am aware that a lot of people do test the market, I do have some advice for them, if you don’t need to sell, then don’t try because in all likelihood in a market like this you probably won’t succeed
On the bright side and there’s always a bright side, if you are selling and moving in the current market it won’t just be you who will not get their dream price, it will likely be the property you are buying, in essence creating a win/win situation. As I’ve said before, my glass is half full rather than half empty.
If you are thinking of selling your home please call me on the numbers below or contact me via email firstname.lastname@example.org alternately fill in your details here on my website www.steveslicker.com
0275 661 949