Homes are selling much quicker in Sydney and Melbourne

21 November 16

 

Although values have been increasing for almost 4.5 years, homes continue to sell quite rapidly with a relatively low level of discounting occurring from vendors.

The vendor discount and time on market metrics are important measures of current market conditions.  The vendor discounting metric looks at properties selling for less than their original list price and looks at the percentage difference from initial list price to ultimate sale price.  The time on market metric shows the average number of days between when a property is first listed and when it ultimately sells.  It’s important to note that each of these measures is based on private treaty sales and therefore excludes auctions.

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