Point Cook Real Estate Market Wrap 2017
G’day everyone, it’s Amar from Black & White Real Estate and welcome to the first market update for the year 2018.
First up, a very happy new year to you all, what a fantastic year 2017 was for the property prices and the real estate market in the area of Point Cook.
So looking back, there were a total of 1365 sales that happened over the last 12 months in Point Cook. That’s a staggering number by any stretch of the imagination when you think about the fact that it was achieved in just twelve months.
However, you may be surprised to know that it was a drop from the previous year which was 2016. That’s demonstrated by a couple of things, first up, there are not enough houses on the market for sale at this stage, which means there is more demand than supply. This is further proven by the fact that median house prices in Point Cook have constantly risen, and it’s now currently sitting at $610,000.
The average days on the market or the average number of days that it takes to sell a house has also reduced and is now at 26 days, which means that in more than likely scenario you should be sold within the first 4 weeks of your selling campaign.
Further to that, the growth year on year has been phenomenal. 2016 saw a growth rate of just under 11%, that’s gone up further and currently as of December we were at 16.5% growth rate for houses in Point Cook.
So that’s a little bit of a summary and hopefully, you guys had a fantastic start to the year. I will see you all more often going into the future. Thank you again for tuning in, have a fantastic week, if you are still on holidays then enjoy and I look forward to seeing you guys back. If you have any questions, I am around, the business is up and running again so feel free to give us a call and we will help you through any of your real estate needs.
Thank you and I will see you guys next time. Bye for now!
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