The market for real estate in Bentleigh is still competitive, which is benefiting those who are selling.
Fortunately, the continuous rise of home values is showing no signs of abating over the next few months. While the interest rates remain at a historic low, it would be logical to count on real estate in Bentleigh to carry on selling relatively quickly.
According to CoreLogic RP Data, another reason for the hot market and sense of urgency amongst buyers is the supply of homes. In most cities it is actually lower than the at the same time last year.
Currently, homes in our capital cities are taking 37 days to sell on average – close to a record low. On the other hand, property in Melbourne is taking just 32 days. What's important to note too, is that these figures are from just private treaty sales, not auctions.
A lot can be taken just from looking at these statistics according to CoreLogic RP Data senior research analyst Cameron Kusher.
"If the days on market are short it is typically indicative of a seller's market where homes are selling rapidly and buyers have little time to ponder a purchase decision," Kusher said.
And the same is true for the opposite. If real estate in Bentleigh was on the market for an extended period of time, the trade would be more suited for buyers as they would have more time to consider, not to mention further room for negotiation.
At the moment, the market is certainly more fitting for those who are looking to sell. However, as mentioned earlier, the growth of real estate in Bentleigh is unwavering at the moment and therefore still makes for a good investment if you are looking to buy.
Want to know more? You should talk to Matt Hurlston and the team at Ray White Carnegie. We can take you through the whole process, regardless of whether you're buying or selling.