Millwater Property Update
With Mike Pero Real Estate Millwater
Those of you have been reading the column for some time (thank you) will know that I call it how I see it, without the spin you see from many agents and agencies. Hopefully, you will appreciate it when I say things are pretty good in the Millwater market right now.
As always, though, that comes with some caveats. We have seen a significant improvement in buyer activity over the last few weeks and, importantly, there are more cash buyers entering the market. Those buyers are still cautious around the spending of that money, but with good sales volumes and low listing numbers in the last couple of months, the choices are getting slimmer and decisions are happening faster. The average ‘days to sell’ is continuing to decrease month on month as older stock is sold or removed from sale, and the pace and momentum of the market increases. We see this as likely to continue through November and some of December – as usual, we expect the market to take a break from mid-December until late January.
At the same time, new listings are still at very low levels and seemingly unlikely to change significantly this side of Christmas. This creates an opportunity for those with their property in the market over the next few weeks – more buyers and less competition generally equals better sales. However, and this is where the caveats come in, pricing is down on many properties. We have seen several months where agents and desperate vendors have been pushing prices down to increase turnover, and the general level in Millwater is now lower than it was at the beginning of the year.
We believe it has gone down further than it needs to, so there should be some slight recovery in prices in the next few weeks. Certainly the sales we have achieved in recent days suggests this is the case; however, with pricing down 5-10% from peak, the recovery is only likely to be a small portion of that. Great properties are achieving good sales prices. Unfortunately, not all Millwater property falls into this category and buyers have become fussy and punitive on those properties that do not reach the required standard.
Often, it is possible to significantly improve a property in a short period of time prior to marketing; sometime it takes a longer approach. The key elements we currently see buyers focusing on are street appeal, privacy, parking, good outdoor entertaining spaces and flow, plus appropriately-sized rooms with good layout. If you want to know what can be done with your property to assist the sales process, even if you are thinking 2-3 years away, feel free to give me a call. I am happy to have a look, a chat, and probably save you some money along the way.
In the meantime we are now short of quality property to sell, so if you are having thoughts about selling please get in touch, we are happy to give you an obligation free assessment of where your property sits in the market.
021 665 423
About Mike Pero Real Estate Millwater
Grayson and Sarah live and work in Millwater and know the market extremely well. Their clients attest to their enthusiastic and professional approach as well as the high value proposition that the Mike Pero Real Estate brand provides.
Clients appreciate that because they are locals they not only have an in depth knowledge of the current market but also strive to make a fabulous impression by delivering optimum results.
“We are proud to be the business owners of Mike Pero Real Estate Millwater, servicing the area from Millwater to Long Bay and across to Albany."
- Grayson and Sarah
Contact us at Mike Pero Real Estate for more information on residential sales in the Millwater area.
"The dream team strikes again. For the second time we have had the pleasure of having Grayson, Sarah and the team at Mike Pero Millwater market and sell our property. They made the process easy and took care of all of the details for us. The professional photos were fantastic and made all the difference for our online marketing. Second to none, real estate professionals we would recommend to everyone."
Shane & Nicole Woods | Prospect Tce and Skipjack Pass
"My sincere thanks go to Grayson Sarah and Vanessa from Mike Pero for achieving the successful sale of my property in Millwater. Grayson is happy to spend as much or as little time with you as you require to find out all about the exciting but sometimes stressful process of selling a beloved home. No question went unanswered from him - or Sarah and Vanessa for that matter -and they work so well as a team. I would highly recommend them to anyone thinking of selling their home as not only do they achieve great results they have your best interests at heart."
Kathryn Deakins | Blake Greens
"We have used Sarah and Grayson from Mike Pero Millwater on three occasions to sell our homes. On every occasion we received good market information and the final result exceeded our financial expectations. Appointments were always kept and phone calls always returned without delay. Open home feedback was prompt and accurate.
Grayson and Sarah helped us finish creating our retirement fund in under 5 years. We are really happy we were loyal to a fantastic team who always exceeded our expectations."
Mark and Donna Bradford | Madison Terrace, Bartlett Drive and Botanical Drive
Grayson and Sarah were brilliant from the get go - the transparency and communication, including regular updates helped us feel connected to the marketing plan with the end goal always in mind. We felt like we were dealing with real people that understood us and our family needs. Being a part of Maddren Homes and in the business of building/selling homes, professionalism and quality are important to us and with Grayson and Sarah we felt we got looked after every step of the way. They were professional and approachable and we were constantly kept informed - we felt like our home was always a priority and they were focused on achieving a great outcome for us, which they did! We’d recommended listing with Mike Pero, as we would again in a heartbeat. We wish them every success. The kids were rapt their playhouse was even sold. The Anderson Family | Outlook Terrace