Need to know more about the property market in Randburg. Every property market cycle is demanding. We cover the major trends in the current Randburg property market. In the SA property market in most parts of SA, including Randburg, we are experiencing a buyer’s market.
The property market in Randburg is a buyer’s market?
It means that as prices keep rising, affordability becomes stretched. Oftentimes property prices keep going up and sometimes above what we call the House Price Index or HPI. Last year the HPI was at 4%. This year it is down to 1.9%.
What is the HPI or house price index?
This means that property prices are no longer going up at 4% but rather 1.9%. An accurate property valuation will take this into account. This also means that if you want 12%+ growth you are quite possibly not going to get it.
Is your property not selling in Randburg?
Could be for a few reasons actually. But mainly, now and in the current buyer’s market, it is because the price you want is not the price you will get at the sale of your property. If your property has been on the market for more than 3 – 4 months and it has not sold this is mainly due to the competition in your area being better or your price is simply not accurate for a sale in the current market.
Price easing for the property market in Randburg
Price easing is a term we use to describe the need to come down with your asking price to simply stimulate buyer interest. There is what I call the sweet spot in the current market. Simply, the sweet spot is the price at which enquiries start to come in. Enquiries lead to viewing and viewings lead to offers which lead to a property transfer. Price easing in the current market is most certainly recommended to ensure that we are able to find buyers with an appetite to buy your home. In order to stimulate buyer interest in your property that may already be on the market consider price easing for better results and more traction. I am also hoping that when you do consider price easing you already have the best photos of your property that money can buy.
Keeping a property listing fresh to attract all the buyers
A seasoned estate agent does not compete with other agents. A seasoned estate agent competes for buyers. And that means you get your win-win. Keeping a property listing fresh, means tweaking a description and rotating photos on a regular basis. Social media is a key consideration for you if you are selling a property. If your seasoned estate agent is giving your property a digital marketing presence in the current market you are luckier than most. A tech-savvy estate agent who provides your property with a further presence online is always highly recommended.
Navigate the property market in Randburg
KW Select powers my real estate agent business in Randburg with advanced technology solutions to support a successful residential property sale. Keller Williams is the largest real estate franchise in the world. Whether you are buying a property in Randburg, or Selling a property in Randburg we can and will assist. Get all the latest residential property trends in Randburg. Accurate pricing is key. We also cover all the different property mandates. We know what it will cost you to sell a property in Randburg. We also know the costs you will need to consider when buying a property in Randburg. Get an accurate and market-related property valuation for your property and let’s make sure we sell it in under 85 days according to the FNB Property Barometer from June 2023. Call 083 550 1220 for all your residential real estate needs.