What do Parkhurst property prices look like for 2024?
As a Parkhurst property owner prices hold steady and show continued growth over time. Continued growth is in line for Parkhurst. In the image below, you will see that the trend for growth is standing at just a little below R3m. There is generally a drop of about 12% between the asking price and the sales price. This means that pricing a Parkhurst property for sale is critical and leaves us all pushing the trend a little upward as much as we can. Ultimately it’s our buyers who determine the price of a property when it sells in Parkhurst. There has only been 1 property registration in 2024 for a sale that was concluded in late 2023. The trend will lift as the sales from November and December 2023 start to pull through. 4 and 5-bedroom homes as shown below from Property24 highlight the demand and the higher prices for bigger homes.
Headlines for Parkhurst property owners
To date and as of the end of January 2024 there have been 191 property sales and registrations in 2023. Mostly made up of freestanding homes, the Parkhurst sales price achieved as an average for 2023 across 174 sales is highlighted at R2,800,000.
A quick view of what is on the market?
According to the most prominent property portal in SA, P24, there are currently 220 Parkhurst properties on the market as of the end Jan 2024 across many different price bands. The most difficult price band at the moment is the first-time homebuyer category up to R1,5m. The high-interest rates have hurt the growth of our young first-time property buyers. But, as the rates settle and start to come down, this will stimulate the buyer’s market.
It will take on average 3 months to sell a Parkhurst property in Parkhurst
According to FNB, it takes around 3 months or 91 days to sell a property in the current market. Add to that 3 months to transfer property, if we list today you could be onto the next journey of your life by the middle of the year. If it’s time to sell, now really is the time to list your property. You want to be ready when the interest rates start dropping to appeal to buyers looking to move into the beautiful suburb of Parkhurst with its great amenities. Schools, retail hubs, access to major business hubs and more. Call Sandy from Sell with Sandy on (083) 550 1220.
Is it time to sell your property in Parkhurst?
If it is time to sell, let us know. KW Select in Randburg belongs to the largest real estate franchise in the world. We have some pretty amazing technology that helps us as agents leverage buyers from other properties to your new listing. We pride ourselves on being a tech-driven company with a brilliant human touch. I would love to pop in to help you assess what your biggest asset is worth in 2024. When you are ready let me know. You get brilliant service, a great track record and phenomenal exposure when you Sell with Sandy. Call me on 083 550 1220 to schedule a valuation of your biggest asset. Get the best price when you sell.