There is most certainly a price correction for the Randburg property market. And let’s confirm that a seller’s market is when demand exceeds buyers’ demand and what the market will pay for a property, the market corrects. It’s a natural process but it’s painful if you are stuck in 2020 prices where House Price Growth is averaging 2% growth per annum.
A buyer’s market for Randburg property
Yes, and we know this. The Randburg property market is experiencing a buyer’s market. This is when supply exceeds demand. This is especially true when the price asked for a property is not the price that the market will pay for a Randburg property. Also, the key is that there are 7 months of inventory sitting on the market in the Randburg property space.
Is your Randburg property not selling?
Maybe it’s time to get a fresh perspective on what the Randburg property market trends are showing. The market now, in 2024 is not what the market was in 2022. Yes, we had a little short-lived seller’s market during the COVID days when we were all stuck at home and unable to work or walk after 8 am…. Do you remember those days when we were unable to buy flip-flops or cooked chicken from Woolies? Yes, we remember those days well. The market was a little stuck and when we got out of level-5 the market boomed and it boomed for a while. But we have moved into a buyer’s market and we are here to stay for a while.
If you really do need to sell your Randburg property and you need a Take-2 give me a call
If it’s time to sell and you have your property listed and it is just not selling, call Sandy from Sell with Sandy on 083 550 1220. Chances are you have a 2022 price in place when the market is simply and stubbornly not responding and rewarding you with the offer you need on your Randburg property.
HPI is sitting at 2%
I would love to help you get the most for your Randburg property when you sell. But the market decides on the price at which you will sell your Randburg property. Right down to the price per square meter for your home and against your ERF. If you consider the implications of the FNB Property Barometer and you track the House Price Index or HPI as I do you will know the HPI is tracking at 2%.
Need a market-related property valuation?
Call Sandy from Sell with Sandy on 083 550 1220. Or visit my Sell with Sandy website for more info.